US Bancorp DE Sells 2,915 Shares of Southern Copper Co. (NYSE:SCCO)

US Bancorp DE decreased its holdings in Southern Copper Co. (NYSE:SCCO) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 quarter.

Several other institutional investors have also added to or reduced their stakes in SCCO. Creative Financial Designs Inc. ADV lifted its stake in Southern Copper by 172.0% in the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 141 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Southern Copper by 2.6% during the third quarter. Janney Montgomery Scott LLC now owns 173,419 shares of the basic materials company’s stock valued at $20,059,000 after buying an additional 4,435 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Southern Copper by 11.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 112,086 shares of the basic materials company’s stock worth $12,965,000 after purchasing an additional 11,640 shares during the last quarter. National Pension Service grew its holdings in Southern Copper by 15.8% in the third quarter. National Pension Service now owns 26,713 shares of the basic materials company’s stock worth $3,090,000 after purchasing an additional 3,639 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in Southern Copper by 30.8% in the third quarter. Amalgamated Bank now owns 7,620 shares of the basic materials company’s stock worth $881,000 after purchasing an additional 1,796 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on SCCO shares. JPMorgan Chase & Co. upgraded shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research note on Monday, December 2nd. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their target price for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $94.81.

Southern Copper Stock Up 5.1 %

SCCO opened at $90.30 on Thursday. Southern Copper Co. has a fifty-two week low of $81.12 and a fifty-two week high of $129.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The company has a fifty day moving average of $93.95 and a two-hundred day moving average of $101.28. The stock has a market capitalization of $70.93 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.90 and a beta of 1.12.

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

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were paid 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 dividend yield of 3.10%. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s payout ratio is currently 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.