Southern Copper Co. (NYSE:SCCO) Shares Acquired by TIAA Trust National Association

TIAA Trust National Association boosted its position in shares of Southern Copper Co. (NYSE:SCCO) by 20.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,569 shares of the basic materials company’s stock after acquiring an additional 430 shares during the period. TIAA Trust National Association’s holdings in Southern Copper were worth $234,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Pathstone Holdings LLC increased its holdings in Southern Copper by 2.0% in the third quarter. Pathstone Holdings LLC now owns 12,523 shares of the basic materials company’s stock valued at $1,448,000 after buying an additional 247 shares during the last quarter. Cerity Partners LLC grew its holdings in Southern Copper by 30.9% in the 3rd quarter. Cerity Partners LLC now owns 13,516 shares of the basic materials company’s stock worth $1,563,000 after buying an additional 3,193 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Southern Copper by 578.3% during the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 347 shares during the period. D.A. Davidson & CO. increased its stake in Southern Copper by 2.1% during the 3rd quarter. D.A. Davidson & CO. now owns 22,775 shares of the basic materials company’s stock valued at $2,634,000 after buying an additional 466 shares during the period. Finally, Brooklyn Investment Group acquired a new position in shares of Southern Copper during the third quarter valued at approximately $93,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SCCO. UBS Group raised Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Thursday, March 13th. Scotiabank raised their target price on Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a research report on Monday, March 10th. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a research report on Monday, December 2nd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $94.42.

Southern Copper Price Performance

NYSE SCCO opened at $94.11 on Friday. The company has a market cap of $74.93 billion, a P/E ratio of 21.78, a P/E/G ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a 1 year low of $84.33 and a 1 year high of $127.34. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The company has a fifty day simple moving average of $94.41 and a 200 day simple moving average of $100.64.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. On average, sell-side analysts predict that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were given a dividend of $0.70 per share. The ex-dividend date was Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a yield of 2.98%. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s payout ratio is 64.81%.

About Southern Copper

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.