Pacer Advisors Inc. Increases Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Pacer Advisors Inc. lifted its stake in Southern Copper Co. (NYSE:SCCOGet Rating) by 88.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,049 shares of the basic materials company’s stock after purchasing an additional 23,999 shares during the quarter. Pacer Advisors Inc.’s holdings in Southern Copper were worth $3,875,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Yousif Capital Management LLC purchased a new position in shares of Southern Copper in the 4th quarter worth approximately $815,000. Gateway Investment Advisers LLC boosted its holdings in shares of Southern Copper by 20.2% in the 4th quarter. Gateway Investment Advisers LLC now owns 120,941 shares of the basic materials company’s stock worth $7,463,000 after purchasing an additional 20,289 shares during the period. LPL Financial LLC boosted its holdings in shares of Southern Copper by 13.1% in the 3rd quarter. LPL Financial LLC now owns 61,699 shares of the basic materials company’s stock worth $3,464,000 after purchasing an additional 7,140 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Southern Copper in the 4th quarter worth approximately $16,790,000. Finally, Berger Financial Group Inc purchased a new position in Southern Copper during the 4th quarter valued at $304,000. Hedge funds and other institutional investors own 6.83% of the company’s stock.

A number of equities analysts recently issued reports on SCCO shares. Barclays dropped their price objective on Southern Copper from $62.00 to $61.00 and set an “equal weight” rating for the company in a report on Wednesday, June 8th. StockNews.com cut Southern Copper from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 10th. Finally, Morgan Stanley dropped their price objective on Southern Copper from $66.00 to $52.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Southern Copper currently has an average rating of “Hold” and a consensus target price of $60.88.

Shares of SCCO stock opened at $52.85 on Thursday. Southern Copper Co. has a twelve month low of $52.52 and a twelve month high of $79.32. The stock has a market capitalization of $40.86 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 1.62 and a beta of 1.12. The stock has a fifty day simple moving average of $61.50 and a two-hundred day simple moving average of $65.52. The company has a current ratio of 3.34, a quick ratio of 2.75 and a debt-to-equity ratio of 0.76.

Southern Copper (NYSE:SCCOGet Rating) last issued its earnings results on Tuesday, May 3rd. The basic materials company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.01. Southern Copper had a return on equity of 42.00% and a net margin of 30.61%. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Research analysts predict that Southern Copper Co. will post 4.14 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Shareholders of record on Tuesday, May 17th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 9.46%. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date was Monday, May 16th. Southern Copper’s dividend payout ratio is currently 112.87%.

Southern Copper Profile (Get Rating)

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 and lead.

Further Reading

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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