Southern Copper Co. (NYSE:SCCO) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lessened its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 81.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 407 shares of the basic materials company’s stock after selling 1,766 shares during the quarter. National Bank of Canada FI’s holdings in Southern Copper were worth $44,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors bought a new stake in Southern Copper during the first quarter worth approximately $340,373,000. Price T Rowe Associates Inc. MD raised its stake in shares of Southern Copper by 18.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock worth $827,804,000 after buying an additional 1,192,111 shares in the last quarter. Norges Bank acquired a new stake in shares of Southern Copper in the fourth quarter valued at $71,802,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Southern Copper by 54.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,541,396 shares of the basic materials company’s stock valued at $164,190,000 after buying an additional 544,312 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in Southern Copper during the first quarter worth about $27,163,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

SCCO has been the subject of several research reports. UBS Group assumed coverage on shares of Southern Copper in a research report on Friday, July 12th. They set a “neutral” rating and a $120.00 price objective for the company. Morgan Stanley lifted their price target on shares of Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a research report on Friday, June 21st. Finally, Scotiabank cut their price objective on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating for the company in a research report on Tuesday, May 21st. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $89.57.

Southern Copper Trading Up 0.7 %

NYSE SCCO opened at $98.69 on Monday. The firm’s 50 day moving average price is $103.30 and its two-hundred day moving average price is $107.26. The stock has a market cap of $77.09 billion, a price-to-earnings ratio of 32.79, a PEG ratio of 0.99 and a beta of 1.17. Southern Copper Co. has a twelve month low of $68.93 and a twelve month high of $129.79. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.27 and a current ratio of 2.81.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.09. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $2.96 billion. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. Equities analysts anticipate that Southern Copper Co. will post 4.33 EPS for the current year.

Southern Copper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.60 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.43%. Southern Copper’s dividend payout ratio is 79.73%.

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, copper, molybdenum, silver, gold, and lead.