Southern Copper Co. (NYSE:SCCO) Position Trimmed by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC trimmed its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 16.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,597 shares of the basic materials company’s stock after selling 2,961 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Southern Copper were worth $1,680,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SCCO. Capital World Investors acquired a new position in Southern Copper in the 1st quarter worth approximately $340,373,000. Price T Rowe Associates Inc. MD boosted its stake in 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 purchasing an additional 1,192,111 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Southern Copper by 54.6% in 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. Los Angeles Capital Management LLC boosted its stake in 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 worth $47,760,000 after purchasing an additional 411,630 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in Southern Copper in the 1st quarter worth approximately $27,163,000. 7.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. UBS Group assumed coverage on shares of Southern Copper in a research report on Friday, July 12th. They issued a “neutral” rating and a $120.00 target price for the company. Morgan Stanley increased their target price 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 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, the stock has an average rating of “Hold” and a consensus price target of $89.57.

Southern Copper Stock Up 1.2 %

Southern Copper stock opened at $117.11 on Wednesday. The company has a market capitalization of $91.48 billion, a P/E ratio of 38.92, a P/E/G ratio of 1.17 and a beta of 1.17. The firm’s fifty day simple moving average is $102.92 and its 200-day simple moving average is $109.13. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67. Southern Copper Co. has a 1-year low of $68.93 and a 1-year high of $129.79.

Southern Copper (NYSE:SCCO) last released 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 net margin of 26.15% and a return on equity of 34.98%. Sell-side analysts forecast that Southern Copper Co. will post 4.29 earnings per share for the current fiscal year.

Southern Copper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.05%. Southern Copper’s dividend payout ratio is currently 79.77%.

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.