DekaBank Deutsche Girozentrale Buys 118 Shares of Southern Copper Co. (NYSE:SCCO)

DekaBank Deutsche Girozentrale grew its stake in shares of Southern Copper Co. (NYSE:SCCO) by 0.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 23,758 shares of the basic materials company’s stock after acquiring an additional 118 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Southern Copper were worth $2,557,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Prudential PLC increased its stake in Southern Copper by 1.0% in the second quarter. Prudential PLC now owns 10,667 shares of the basic materials company’s stock valued at $1,149,000 after acquiring an additional 109 shares during the last quarter. American Financial Advisors LLC raised its holdings in shares of Southern Copper by 1.0% during the 2nd quarter. American Financial Advisors LLC now owns 11,718 shares of the basic materials company’s stock worth $1,262,000 after buying an additional 117 shares in the last quarter. Wahed Invest LLC lifted its position in shares of Southern Copper by 9.0% during the 4th quarter. Wahed Invest LLC now owns 1,451 shares of the basic materials company’s stock worth $125,000 after buying an additional 120 shares during the last quarter. Parsons Capital Management Inc. RI boosted its stake in Southern Copper by 0.5% in the second quarter. Parsons Capital Management Inc. RI now owns 26,271 shares of the basic materials company’s stock valued at $2,830,000 after buying an additional 141 shares in the last quarter. Finally, GoalVest Advisory LLC grew its position in Southern Copper by 0.7% in the second quarter. GoalVest Advisory LLC now owns 19,777 shares of the basic materials company’s stock valued at $2,131,000 after acquiring an additional 145 shares during the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $101.30 on Thursday. The firm has a market cap of $79.13 billion, a PE ratio of 33.65, a price-to-earnings-growth ratio of 1.00 and a beta of 1.17. Southern Copper Co. has a 52 week low of $68.93 and a 52 week high of $129.79. The firm’s fifty day moving average is $102.35 and its 200-day moving average is $107.48. 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 released its quarterly earnings results on Friday, July 19th. The basic materials company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.09. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $2.96 billion. Sell-side analysts predict that Southern Copper Co. will post 4.33 earnings per share for the current year.

Southern Copper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, August 9th. This represents a $2.40 annualized dividend and a yield of 2.37%. Southern Copper’s payout ratio is 79.73%.

Analyst Ratings Changes

SCCO has been the subject of a number of research reports. UBS Group began coverage on shares of Southern Copper in a report on Friday, July 12th. They issued a “neutral” rating and a $120.00 target price for the company. Morgan Stanley boosted their target price on shares of Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, June 21st. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $89.57.

Southern Copper 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.