Los Angeles Capital Management & Equity Research Inc. lowered its stake in Southern Copper Corp (NYSE:SCCO) by 0.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 530,535 shares of the basic materials company’s stock after selling 2,957 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Southern Copper were worth $22,887,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its stake in Southern Copper by 319.6% during the 3rd quarter. Fisher Asset Management LLC now owns 4,595,692 shares of the basic materials company’s stock worth $198,258,000 after purchasing an additional 3,500,463 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Southern Copper by 2.8% during the 3rd quarter. Acadian Asset Management LLC now owns 3,609,257 shares of the basic materials company’s stock worth $155,705,000 after purchasing an additional 99,708 shares during the last quarter. Northern Trust Corp boosted its stake in Southern Copper by 0.8% during the 2nd quarter. Northern Trust Corp now owns 1,039,201 shares of the basic materials company’s stock worth $48,707,000 after purchasing an additional 8,354 shares during the last quarter. Oakmont Corp boosted its stake in Southern Copper by 259.7% during the 2nd quarter. Oakmont Corp now owns 798,450 shares of the basic materials company’s stock worth $37,423,000 after purchasing an additional 576,450 shares during the last quarter. Finally, Personal Capital Advisors Corp boosted its stake in Southern Copper by 3.7% during the 3rd quarter. Personal Capital Advisors Corp now owns 780,304 shares of the basic materials company’s stock worth $33,662,000 after purchasing an additional 27,841 shares during the last quarter. 7.97% of the stock is currently owned by hedge funds and other institutional investors.
NYSE SCCO opened at $39.05 on Friday. Southern Copper Corp has a 52 week low of $35.59 and a 52 week high of $58.09. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.88 and a current ratio of 2.71. The firm has a market cap of $30.71 billion, a PE ratio of 25.79 and a beta of 0.67.
Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, October 24th. The basic materials company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). Southern Copper had a return on equity of 14.97% and a net margin of 13.24%. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Sell-side analysts expect that Southern Copper Corp will post 2.18 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $1.60 annualized dividend and a dividend yield of 4.10%.
SCCO has been the topic of several recent research reports. Scotiabank set a $40.00 target price on shares of Southern Copper and gave the stock a “sell” rating in a research note on Monday, August 6th. Citigroup raised shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $43.00 target price on the stock in a research note on Monday, October 8th. Santander cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. B. Riley lowered their target price on shares of Southern Copper from $55.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 19th. Finally, UBS Group raised shares of Southern Copper from a “neutral” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Friday, November 2nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $46.13.
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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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