Southern Copper Corporation $SCCO Stock: Jefferies Financial Group Inc. Lowers Holdings

Jefferies Financial Group Inc. decreased its position in shares of Southern Copper Corporation (NYSE:SCCO) by 13.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,760 shares of the basic materials company’s stock after selling 3,938 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Southern Copper were worth $5,220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in Southern Copper in the 2nd quarter worth about $1,729,500,000. Bank of America Corp DE acquired a new stake in shares of Southern Copper during the second quarter valued at about $318,448,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Southern Copper by 2.2% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,290,648 shares of the basic materials company’s stock valued at $224,908,000 after purchasing an additional 27,744 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Southern Copper during the second quarter worth about $149,739,000. Finally, Bollard Group LLC increased its stake in shares of Southern Copper by 14.0% in the first quarter. Bollard Group LLC now owns 861,950 shares of the basic materials company’s stock valued at $148,307,000 after buying an additional 105,763 shares during the period. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Down 2.6%

Shares of NYSE:SCCO opened at $168.16 on Friday. The stock has a market cap of $141.98 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 1.59 and a beta of 1.15. The company has a quick ratio of 3.93, a current ratio of 4.31 and a debt-to-equity ratio of 0.59. Southern Copper Corporation has a 12-month low of $119.25 and a 12-month high of $223.88. The business’s 50 day moving average is $192.02 and its 200 day moving average is $185.32.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Wednesday, October 21st. The basic materials company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.12. The business had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.49 billion. Southern Copper had a return on equity of 51.61% and a net margin of 37.16%. During the same period in the prior year, the firm posted $1.34 EPS. On average, sell-side analysts forecast that Southern Copper Corporation will post 8.01 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Tuesday, November 3rd will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $5.20 dividend on an annualized basis and a yield of 3.1%. This is a positive change from Southern Copper’s previous quarterly dividend of $1.10. Southern Copper’s payout ratio is presently 68.06%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SCCO. Wells Fargo & Company set a $190.98 price target on shares of Southern Copper and gave the company an “equal weight” rating in a research report on Friday, October 23rd. Zacks Research lowered shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Wall Street Zen lowered Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. UBS Group raised shares of Southern Copper from a “sell” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Tuesday. Finally, CICC Research lowered shares of Southern Copper to a “market perform” rating in a report on Sunday, July 26th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, Southern Copper has an average rating of “Reduce” and a consensus price target of $159.47.

Southern Copper Profile

Southern Copper Corporation is an integrated mining company focused primarily on the exploration, mining, processing, and refining of copper. Its operations also produce molybdenum, zinc, lead, silver, and other mineral products. The company operates mines and processing facilities in Peru and Mexico, including the Toquepala and Cuajone operations in Peru and the Buenavista and La Caridad operations in Mexico. Its activities extend across the mining and metals value chain, from extracting ore to producing refined metals and concentrates.