US Bancorp DE Lowers Position in Southern Copper Co. (NYSE:SCCO)

US Bancorp DE decreased its position in shares of Southern Copper Co. (NYSE:SCCO) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,956 shares of the basic materials company’s stock after selling 2,915 shares during the period. US Bancorp DE’s holdings in Southern Copper were worth $4,826,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV grew its stake in shares of Southern Copper by 172.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after buying an additional 141 shares during the last quarter. Deseret Mutual Benefit Administrators grew its stake in shares of Southern Copper by 210.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 257 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Southern Copper by 143.4% during the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 281 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of Southern Copper during the 3rd quarter worth approximately $47,000. Finally, Larson Financial Group LLC grew its holdings in shares of Southern Copper by 578.3% during the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 347 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Southern Copper Trading Up 5.1 %

NYSE:SCCO opened at $90.30 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The firm has a market capitalization of $70.93 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a one year low of $81.12 and a one year high of $129.79. The business has a fifty day moving average price of $93.95 and a 200-day moving average price of $101.28.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) 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%. Sell-side analysts forecast that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Tuesday, February 11th. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio is 64.81%.

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.