Strs Ohio raised its position in Southern Copper Co. (NYSE:SCCO – Free Report) by 23.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 180,280 shares of the basic materials company’s stock after buying an additional 34,230 shares during the period. Strs Ohio’s holdings in Southern Copper were worth $13,746,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Boyd Watterson Asset Management LLC OH acquired a new stake in Southern Copper in the 4th quarter worth about $25,000. Accurate Wealth Management LLC purchased a new position in Southern Copper in the 4th quarter worth approximately $25,000. Clearview Wealth Advisors LLC purchased a new position in Southern Copper in the 1st quarter worth approximately $26,000. Sanctuary Wealth Management L.L.C. purchased a new position in Southern Copper in the 4th quarter worth approximately $27,000. Finally, Loomis Sayles & Co. L P purchased a new position in Southern Copper in the 1st quarter worth approximately $29,000. 7.74% of the stock is currently owned by institutional investors and hedge funds.
Southern Copper Stock Down 1.5 %
Southern Copper stock opened at $76.78 on Friday. Southern Copper Co. has a fifty-two week low of $42.42 and a fifty-two week high of $82.05. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.38 and a current ratio of 4.17. The firm has a 50 day moving average price of $71.43 and a 200 day moving average price of $73.06. The company has a market capitalization of $59.36 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 18.04 and a beta of 1.24.
Southern Copper (NYSE:SCCO – Get Free Report) last posted its quarterly earnings results on Thursday, April 27th. The basic materials company reported $1.05 EPS for the quarter, topping the consensus estimate of $1.04 by $0.01. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.72 billion. Southern Copper had a net margin of 26.46% and a return on equity of 33.71%. Research analysts expect that Southern Copper Co. will post 3.76 earnings per share for the current year.
Southern Copper Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 23rd. Shareholders of record on Tuesday, May 9th were paid a $0.95 dividend. The ex-dividend date was Monday, May 8th. This represents a $3.80 annualized dividend and a dividend yield of 4.95%. Southern Copper’s dividend payout ratio (DPR) is 115.94%.
Wall Street Analyst Weigh In
SCCO has been the topic of a number of research reports. The Goldman Sachs Group lowered shares of Southern Copper from a “neutral” rating to a “sell” rating and raised their target price for the stock from $65.00 to $66.00 in a research note on Tuesday, May 9th. StockNews.com initiated coverage on shares of Southern Copper in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Barclays lifted their price target on shares of Southern Copper from $53.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, April 21st. Morgan Stanley lifted their price target on shares of Southern Copper from $67.00 to $74.00 in a research report on Wednesday, June 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Southern Copper from $55.00 to $56.00 in a research report on Wednesday, May 3rd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Southern Copper presently has an average rating of “Hold” and a consensus target price of $62.86.
Insiders Place Their Bets
In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 500 shares of the business’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $70.21, for a total value of $35,105.00. Following the completion of the transaction, the director now owns 5,514 shares in the company, valued at $387,137.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 1,500 shares of company stock worth $113,840 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.
Southern Copper 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.