Skandinaviska Enskilda Banken AB publ Increases Stake in Southern Copper Co. (NYSE:SCCO)

Skandinaviska Enskilda Banken AB publ boosted its stake in Southern Copper Co. (NYSE:SCCO) by 11.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,329 shares of the basic materials company’s stock after buying an additional 1,761 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Southern Copper were worth $1,867,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SCCO. Norden Group LLC purchased a new position in shares of Southern Copper in the 1st quarter valued at approximately $1,820,000. Los Angeles Capital Management LLC raised its holdings in Southern Copper by 471.0% in the first quarter. Los Angeles Capital Management LLC now owns 31,655 shares of the basic materials company’s stock worth $3,372,000 after purchasing an additional 26,111 shares in the last quarter. Cetera Investment Advisers raised its holdings in Southern Copper by 395.1% in the first quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock worth $4,133,000 after purchasing an additional 30,966 shares in the last quarter. Corient Private Wealth LLC lifted its position in Southern Copper by 149.6% during the fourth quarter. Corient Private Wealth LLC now owns 50,057 shares of the basic materials company’s stock valued at $4,308,000 after buying an additional 29,999 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Southern Copper by 1.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,014,356 shares of the basic materials company’s stock valued at $87,306,000 after buying an additional 18,883 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

Southern Copper Stock Up 2.4 %

SCCO opened at $106.07 on Tuesday. The stock has a market capitalization of $82.86 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 1.02 and a beta of 1.17. The firm has a 50 day moving average price of $101.79 and a 200-day moving average price of $108.14. Southern Copper Co. has a twelve month low of $68.93 and a twelve month high of $129.79. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67.

Southern Copper (NYSE:SCCO) last announced its 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 during the quarter, compared to analyst estimates of $2.96 billion. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. Equities research analysts forecast that Southern Copper Co. will post 4.33 earnings per share for the current year.

Southern Copper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.40 annualized dividend and a yield of 2.26%. Southern Copper’s payout ratio is 79.73%.

Analyst Ratings Changes

A number of brokerages have weighed in on SCCO. UBS Group assumed coverage on shares of Southern Copper in a research note on Friday, July 12th. They set a “neutral” rating and a $120.00 target price for the company. Morgan Stanley raised their price objective on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. Five investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Southern Copper currently has a consensus rating of “Hold” and a consensus price target of $89.57.

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.