5,759 Shares in Southern Copper Co. (NYSE:SCCO) Purchased by MBB Public Markets I LLC

MBB Public Markets I LLC purchased a new position in Southern Copper Co. (NYSE:SCCO) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,759 shares of the basic materials company’s stock, valued at approximately $620,000.

A number of other institutional investors have also added to or reduced their stakes in SCCO. Price T Rowe Associates Inc. MD lifted its holdings in shares of Southern Copper by 18.1% in the first 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. Fisher Asset Management LLC boosted its holdings in shares of Southern Copper by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 3,349,984 shares of the basic materials company’s stock valued at $288,333,000 after purchasing an additional 39,422 shares during the last quarter. Capital World Investors purchased a new position in shares of Southern Copper during the first quarter valued at about $340,373,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Southern Copper by 54.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,541,396 shares of the basic materials company’s stock worth $164,190,000 after purchasing an additional 544,312 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Southern Copper by 1.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,014,356 shares of the basic materials company’s stock worth $87,306,000 after buying an additional 18,883 shares in the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Stock Up 1.2 %

Shares of NYSE:SCCO opened at $117.11 on Wednesday. The firm has a market capitalization of $91.48 billion, a PE ratio of 38.92, a price-to-earnings-growth ratio of 1.17 and a beta of 1.17. The business has a 50 day simple moving average of $102.92 and a two-hundred day simple moving average of $109.13. Southern Copper Co. has a 1 year low of $68.93 and a 1 year high of $129.79. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.81 and a quick ratio of 2.27.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Friday, July 19th. The basic materials company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.13 by $0.09. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $2.96 billion. On average, equities analysts predict that Southern Copper Co. will post 4.29 EPS 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 $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.05%. The ex-dividend date was Friday, August 9th. Southern Copper’s dividend payout ratio is currently 79.77%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SCCO. UBS Group began coverage on Southern Copper in a research note on Friday, July 12th. They issued a “neutral” rating and a $120.00 price objective on the stock. Morgan Stanley boosted their price target on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Five investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $89.57.

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.