Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Position in Southern Copper Co. (NYSE:SCCO)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its position in shares of Southern Copper Co. (NYSE:SCCO) by 9.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,916 shares of the basic materials company’s stock after selling 10,022 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Southern Copper were worth $6,666,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Janiczek Wealth Management LLC increased its stake in Southern Copper by 17.5% during the 2nd quarter. Janiczek Wealth Management LLC now owns 981 shares of the basic materials company’s stock worth $70,000 after buying an additional 146 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Southern Copper by 26.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 32,875 shares of the basic materials company’s stock valued at $2,507,000 after acquiring an additional 6,935 shares in the last quarter. SevenBridge Financial Group LLC boosted its holdings in Southern Copper by 11.7% in the second quarter. SevenBridge Financial Group LLC now owns 5,520 shares of the basic materials company’s stock valued at $396,000 after purchasing an additional 580 shares during the period. Vontobel Holding Ltd. grew its stake in Southern Copper by 3.4% during the 2nd quarter. Vontobel Holding Ltd. now owns 9,137 shares of the basic materials company’s stock worth $655,000 after purchasing an additional 303 shares in the last quarter. Finally, Dfpg Investments LLC grew its stake in Southern Copper by 15.0% during the 2nd quarter. Dfpg Investments LLC now owns 12,318 shares of the basic materials company’s stock worth $946,000 after purchasing an additional 1,611 shares in the last quarter. 7.40% of the stock is owned by institutional investors and hedge funds.

Southern Copper Trading Up 5.6 %

NYSE:SCCO opened at $74.08 on Wednesday. The company has a quick ratio of 2.94, a current ratio of 3.70 and a debt-to-equity ratio of 0.80. Southern Copper Co. has a 52-week low of $56.26 and a 52-week high of $87.59. The stock’s 50 day moving average price is $74.04 and its 200 day moving average price is $75.06. The company has a market capitalization of $57.27 billion, a PE ratio of 19.86 and a beta of 1.28.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Tuesday, October 24th. The basic materials company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.72 by $0.08. Southern Copper had a net margin of 27.66% and a return on equity of 35.91%. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.49 billion. On average, research analysts anticipate that Southern Copper Co. will post 3.38 EPS for the current year.

Southern Copper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Wednesday, November 8th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date is Tuesday, November 7th. Southern Copper’s dividend payout ratio is currently 107.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SCCO shares. Jefferies Financial Group assumed coverage on Southern Copper in a research note on Monday, September 18th. They issued a “hold” rating and a $91.00 price objective for the company. StockNews.com initiated coverage on shares of Southern Copper in a research note on Thursday, October 5th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Southern Copper from $52.50 to $55.50 and gave the company an “underweight” rating in a research report on Thursday, August 17th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.17.

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.