Public Employees Retirement System of Ohio lifted its position in Southern Copper Corp (NYSE:SCCO) by 12.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 184,131 shares of the basic materials company’s stock after buying an additional 20,428 shares during the period. Public Employees Retirement System of Ohio’s holdings in Southern Copper were worth $6,284,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Voya Investment Management LLC lifted its holdings in Southern Copper by 1.7% in the 3rd quarter. Voya Investment Management LLC now owns 18,069 shares of the basic materials company’s stock valued at $617,000 after acquiring an additional 302 shares during the last quarter. Coastal Investment Advisors Inc. increased its holdings in shares of Southern Copper by 63.8% in the second quarter. Coastal Investment Advisors Inc. now owns 1,310 shares of the basic materials company’s stock valued at $52,000 after buying an additional 510 shares in the last quarter. Signaturefd LLC lifted its position in shares of Southern Copper by 100.6% during the 3rd quarter. Signaturefd LLC now owns 1,344 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 674 shares during the last quarter. Prudential PLC lifted its position in shares of Southern Copper by 10.9% during the 2nd quarter. Prudential PLC now owns 7,100 shares of the basic materials company’s stock valued at $276,000 after acquiring an additional 700 shares during the last quarter. Finally, PM CAPITAL Ltd boosted its stake in shares of Southern Copper by 0.5% during the 3rd quarter. PM CAPITAL Ltd now owns 148,875 shares of the basic materials company’s stock worth $5,081,000 after acquiring an additional 700 shares in the last quarter. 6.25% of the stock is currently owned by institutional investors.
SCCO has been the topic of a number of recent research reports. Bank of America restated a “buy” rating and issued a $46.00 target price on shares of Southern Copper in a report on Thursday, August 15th. ValuEngine downgraded Southern Copper from a “hold” rating to a “sell” rating in a report on Monday, November 25th. Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal” rating and set a $36.00 price target for the company in a research report on Monday, September 23rd. JPMorgan Chase & Co. set a $32.00 price target on Southern Copper and gave the company a “hold” rating in a research report on Wednesday, August 21st. Finally, Zacks Investment Research cut Southern Copper from a “hold” rating to a “sell” rating and set a $36.00 price target on the stock. in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Southern Copper has an average rating of “Hold” and a consensus price target of $39.22.
Southern Copper (NYSE:SCCO) last released its earnings results on Friday, October 25th. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.50. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. Southern Copper had a return on equity of 21.86% and a net margin of 20.68%. On average, research analysts forecast that Southern Copper Corp will post 2 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, November 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.22%. Southern Copper’s dividend payout ratio is 80.00%.
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 and lead.
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