Amalgamated Bank Acquires 215 Shares of Southern Copper Corporation (NYSE:SCCO)

Amalgamated Bank grew its holdings in Southern Copper Corporation (NYSE:SCCO) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,034 shares of the basic materials company’s stock after purchasing an additional 215 shares during the quarter. Amalgamated Bank’s holdings in Southern Copper were worth $564,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SCCO. Proficio Capital Partners LLC bought a new position in Southern Copper during the 4th quarter worth approximately $84,000. Charles Schwab Investment Management Inc. boosted its stake in Southern Copper by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 237,437 shares of the basic materials company’s stock worth $21,638,000 after acquiring an additional 4,889 shares during the last quarter. Raymond James Financial Inc. bought a new position in Southern Copper during the 4th quarter worth approximately $8,420,000. PNC Financial Services Group Inc. boosted its stake in Southern Copper by 2.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 17,367 shares of the basic materials company’s stock worth $1,583,000 after acquiring an additional 412 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in Southern Copper by 28.0% during the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 114 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Price Performance

NYSE SCCO opened at $102.22 on Friday. The company has a quick ratio of 3.22, a current ratio of 3.71 and a debt-to-equity ratio of 0.70. Southern Copper Corporation has a 12-month low of $74.11 and a 12-month high of $118.64. The company has a market capitalization of $81.38 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02. The firm’s 50 day moving average is $95.35 and its 200-day moving average is $93.43.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. Southern Copper had a net margin of 30.00% and a return on equity of 39.39%. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.05 billion. Equities research analysts anticipate that Southern Copper Corporation will post 4.66 earnings per share for the current fiscal year.

Southern Copper Announces Dividend

The firm also recently disclosed a dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a dividend yield of 2.98%. Southern Copper’s dividend payout ratio (DPR) is presently 61.27%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SCCO. JPMorgan Chase & Co. reduced their price objective on shares of Southern Copper from $83.50 to $79.00 and set a “neutral” rating on the stock in a research note on Thursday, July 3rd. UBS Group lowered shares of Southern Copper from a “buy” rating to a “neutral” rating and set a $105.00 price target on the stock. in a research note on Tuesday, July 1st. Hsbc Global Res raised shares of Southern Copper from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 24th. Itau BBA Securities raised shares of Southern Copper from an “underperform” rating to a “market perform” rating in a research note on Wednesday, June 11th. Finally, Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Tuesday, May 20th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $91.60.

Southern Copper Company Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.