Commonwealth of Pennsylvania Public School Empls Retrmt SYS Boosts Holdings in Southern Copper Corporation $SCCO

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Southern Copper Corporation (NYSE:SCCO) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,119 shares of the basic materials company’s stock after buying an additional 3,599 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Southern Copper were worth $11,925,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. BNP Paribas Financial Markets increased its position in Southern Copper by 53.3% during the fourth quarter. BNP Paribas Financial Markets now owns 348,452 shares of the basic materials company’s stock worth $49,992,000 after purchasing an additional 121,111 shares during the last quarter. Norges Bank purchased a new stake in shares of Southern Copper during the 4th quarter worth approximately $97,645,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Southern Copper in the 4th quarter valued at $2,121,000. Northwestern Mutual Wealth Management Co. raised its position in Southern Copper by 50.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,268 shares of the basic materials company’s stock worth $1,043,000 after buying an additional 2,439 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in Southern Copper by 0.8% during the 4th quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company’s stock worth $865,000 after buying an additional 50 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SCCO shares. JPMorgan Chase & Co. boosted their price objective on shares of Southern Copper from $117.50 to $127.00 and gave the stock an “underweight” rating in a research report on Friday, April 10th. Morgan Stanley increased their price objective on shares of Southern Copper from $155.00 to $160.00 and gave the stock an “underweight” rating in a report on Thursday, April 9th. Scotiabank reiterated an “underperform” rating and set a $135.00 price objective (up from $133.00) on shares of Southern Copper in a report on Friday, May 15th. Barclays started coverage on shares of Southern Copper in a research report on Thursday, May 21st. They set an “underweight” rating and a $148.00 target price for the company. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Southern Copper in a research report on Friday, March 27th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and eight have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $145.14.

Southern Copper Trading Up 1.7%

Shares of SCCO opened at $194.64 on Tuesday. The business’s 50-day moving average price is $179.72 and its 200 day moving average price is $171.94. The stock has a market capitalization of $159.43 billion, a P/E ratio of 32.17, a P/E/G ratio of 1.89 and a beta of 1.09. Southern Copper Corporation has a 1-year low of $88.73 and a 1-year high of $223.88. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.04. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%.The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $3.96 billion. Analysts expect that Southern Copper Corporation will post 6.93 earnings per share for the current year.

Southern Copper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $4.00 dividend on an annualized basis and a yield of 2.1%. Southern Copper’s payout ratio is currently 66.12%.

Insider Buying and Selling

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the transaction, the director owned 1,807 shares of the company’s stock, valued at $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 500 shares of company stock valued at $88,412 over the last quarter. 0.07% of the stock is currently owned by insiders.

About Southern Copper

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.