Strs Ohio boosted its position in shares of Southern Copper Corp (NYSE:SCCO) by 39.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 167,188 shares of the basic materials company’s stock after buying an additional 47,188 shares during the quarter. Strs Ohio’s holdings in Southern Copper were worth $7,836,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Piedmont Investment Advisors LLC bought a new stake in shares of Southern Copper during the 2nd quarter valued at $122,000. Navellier & Associates Inc bought a new stake in shares of Southern Copper during the 2nd quarter valued at $139,000. Gables Capital Management Inc. bought a new stake in shares of Southern Copper during the 1st quarter valued at $185,000. Commerce Bank bought a new stake in shares of Southern Copper during the 1st quarter valued at $211,000. Finally, Greenleaf Trust bought a new stake in shares of Southern Copper during the 1st quarter valued at $215,000. 7.32% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Quintanilla Daniel Muniz sold 1,600 shares of the stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $51.20, for a total transaction of $81,920.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is currently owned by corporate insiders.
SCCO stock opened at $43.79 on Tuesday. The company has a quick ratio of 2.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.91. Southern Copper Corp has a 1 year low of $38.34 and a 1 year high of $58.09.
Southern Copper (NYSE:SCCO) last released its earnings results on Wednesday, August 1st. The basic materials company reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.11). Southern Copper had a return on equity of 15.50% and a net margin of 13.78%. sell-side analysts forecast that Southern Copper Corp will post 2.44 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 21st. Shareholders of record on Wednesday, August 8th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Monday, August 6th. This is a boost from Southern Copper’s previous quarterly dividend of $0.30.
A number of analysts recently commented on the stock. ValuEngine upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, June 6th. Berenberg Bank restated a “sell” rating and issued a $39.00 price objective on shares of Southern Copper in a research report on Saturday, June 2nd. JPMorgan Chase & Co. upgraded shares of Southern Copper to a “sell” rating and set a $45.00 price objective for the company in a research report on Tuesday, June 5th. Finally, Scotiabank set a $40.00 price objective on shares of Southern Copper and gave the company a “sell” rating in a research report on Monday, August 6th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $47.31.
Southern Copper Profile
Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Chile, and Ecuador. 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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