Southern Copper Co. (NYSE:SCCO) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its position in Southern Copper Co. (NYSE:SCCO) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 229,866 shares of the basic materials company’s stock after purchasing an additional 2,366 shares during the period. Canada Pension Plan Investment Board’s holdings in Southern Copper were worth $24,766,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in SCCO. Capital World Investors acquired a new stake in shares of Southern Copper in the 1st quarter valued at approximately $340,373,000. Price T Rowe Associates Inc. MD lifted its holdings in 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 valued at $827,804,000 after acquiring an additional 1,192,111 shares during the period. Norges Bank purchased a new stake in shares of Southern Copper during the 4th quarter worth $71,802,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Southern Copper by 54.6% during the 1st 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 period. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Southern Copper by 1,300.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 443,285 shares of the basic materials company’s stock valued at $47,760,000 after purchasing an additional 411,630 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

SCCO stock opened at $103.60 on Monday. 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 quick ratio of 2.27 and a current ratio of 2.81. The stock’s 50 day moving average price is $101.92 and its 200 day moving average price is $107.99. The firm has a market cap of $80.93 billion, a P/E ratio of 34.43, a PEG ratio of 1.02 and a beta of 1.17.

Southern Copper (NYSE:SCCO) last posted its earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share (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. On average, sell-side analysts expect that Southern Copper Co. will post 4.33 earnings per share for the current fiscal year.

Southern Copper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Friday, August 9th. Southern Copper’s payout ratio is currently 79.77%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday. UBS Group initiated coverage on Southern Copper in a research note on Friday, July 12th. They set a “neutral” rating and a $120.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Southern Copper currently has a consensus rating of “Hold” and an average target price 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.