Bank of New York Mellon Corp Has $23.63 Million Stock Position in Southern Copper Co. (NYSE:SCCO)

Bank of New York Mellon Corp lowered its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 10.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 259,341 shares of the basic materials company’s stock after selling 31,402 shares during the period. Bank of New York Mellon Corp’s holdings in Southern Copper were worth $23,634,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Southern Copper by 7.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 230,495 shares of the basic materials company’s stock worth $26,661,000 after buying an additional 15,386 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Southern Copper by 15.3% during the 4th quarter. Nordea Investment Management AB now owns 108,753 shares of the basic materials company’s stock worth $9,969,000 after buying an additional 14,391 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Southern Copper by 384.4% in the 3rd quarter. Two Sigma Advisers LP now owns 90,173 shares of the basic materials company’s stock worth $10,430,000 after purchasing an additional 71,558 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Southern Copper by 74.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock worth $162,283,000 after purchasing an additional 599,610 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Southern Copper by 22.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 137,019 shares of the basic materials company’s stock worth $12,487,000 after purchasing an additional 24,933 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Up 0.2 %

SCCO stock opened at $91.02 on Monday. The stock’s 50 day simple moving average is $93.83 and its 200 day simple moving average is $101.07. Southern Copper Co. has a fifty-two week low of $84.33 and a fifty-two week high of $129.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The company has a market cap of $71.50 billion, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. On average, research analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were paid a dividend of $0.70 per share. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Tuesday, February 11th. Southern Copper’s dividend payout ratio is 64.81%.

Analyst Ratings Changes

A number of brokerages have issued reports on SCCO. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price for the company in a report on Monday, December 2nd. Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $94.81.

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.