FIL Ltd Raises Position in Southern Copper Corp (NYSE:SCCO)

FIL Ltd increased its holdings in Southern Copper Corp (NYSE:SCCO) by 204.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 106,157 shares of the basic materials company’s stock after buying an additional 71,291 shares during the period. FIL Ltd’s holdings in Southern Copper were worth $4,212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of SCCO. Toronto Dominion Bank acquired a new stake in shares of Southern Copper during the 1st quarter worth approximately $32,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Southern Copper by 2,425.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,111 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 1,067 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of Southern Copper during the 1st quarter worth approximately $55,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Southern Copper during the 4th quarter worth approximately $98,000. Finally, CENTRAL TRUST Co grew its stake in shares of Southern Copper by 12.9% during the 1st quarter. CENTRAL TRUST Co now owns 4,481 shares of the basic materials company’s stock worth $178,000 after purchasing an additional 511 shares during the period. Institutional investors own 6.84% of the company’s stock.

Shares of NYSE:SCCO opened at $37.43 on Friday. Southern Copper Corp has a 1 year low of $29.01 and a 1 year high of $50.77. The company has a market cap of $28.76 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 1.13 and a beta of 0.78. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.91 and a current ratio of 2.83.

Southern Copper (NYSE:SCCO) last announced its earnings results on Monday, April 29th. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Southern Copper had a net margin of 20.84% and a return on equity of 22.04%. Sell-side analysts expect that Southern Copper Corp will post 2.43 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were issued a $0.40 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 4.27%. Southern Copper’s payout ratio is currently 80.00%.

SCCO has been the topic of a number of recent analyst reports. Goldman Sachs Group initiated coverage on Southern Copper in a research report on Tuesday, February 19th. They set a “buy” rating on the stock. Zacks Investment Research upgraded Southern Copper from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Tuesday, April 16th. Citigroup upgraded Southern Copper from a “sell” rating to a “buy” rating and increased their target price for the company from $33.00 to $41.00 in a research report on Tuesday, February 19th. TheStreet upgraded Southern Copper from a “c+” rating to a “b-” rating in a research report on Monday, March 11th. Finally, HSBC upgraded Southern Copper from a “reduce” rating to a “hold” rating and set a $37.00 target price on the stock in a research report on Tuesday, March 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Southern Copper presently has an average rating of “Hold” and a consensus price target of $53.65.

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About Southern Copper

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 and lead.

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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