Teza Capital Management LLC Cuts Stake in Southern Copper Co. (NYSE:SCCO)

Teza Capital Management LLC trimmed its stake in Southern Copper Co. (NYSE:SCCO) by 90.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,576 shares of the basic materials company’s stock after selling 32,793 shares during the quarter. Teza Capital Management LLC’s holdings in Southern Copper were worth $326,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in Southern Copper in the fourth quarter valued at approximately $52,738,000. Renaissance Technologies LLC raised its holdings in shares of Southern Copper by 1,417.7% during the 4th quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company’s stock valued at $37,173,000 after purchasing an additional 381,035 shares in the last quarter. Northern Trust Corp lifted its position in shares of Southern Copper by 44.9% in the fourth quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company’s stock worth $104,484,000 after buying an additional 355,013 shares during the last quarter. Marshall Wace LLP boosted its position in Southern Copper by 49.6% during the fourth quarter. Marshall Wace LLP now owns 998,923 shares of the basic materials company’s stock worth $91,032,000 after purchasing an additional 331,319 shares during the period. Finally, Driehaus Capital Management LLC grew its stake in Southern Copper by 26.8% in the 4th quarter. Driehaus Capital Management LLC now owns 1,028,848 shares of the basic materials company’s stock valued at $93,759,000 after buying an additional 217,546 shares during the last quarter. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Trading Down 0.1%

Shares of NYSE:SCCO opened at $91.58 on Wednesday. The company’s 50-day moving average price is $90.63 and its two-hundred day moving average price is $94.55. Southern Copper Co. has a one year low of $74.11 and a one year high of $125.60. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The stock has a market capitalization of $72.91 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05.

Southern Copper (NYSE:SCCO) last released its earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.05 billion. On average, equities analysts forecast that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Dividend Announcement

The company also recently announced a dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were paid a $0.70 dividend. The ex-dividend date was Friday, May 2nd. This represents a yield of 2.98%. Southern Copper’s dividend payout ratio (DPR) is currently 61.27%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SCCO shares. UBS Group reduced their price target on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Hsbc Global Res raised Southern Copper from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 24th. Scotiabank upped their target price on shares of Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research report on Monday, March 10th. StockNews.com downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. cut their price objective on Southern Copper from $84.00 to $83.50 and set a “neutral” rating on the stock in a report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Southern Copper currently has an average rating of “Hold” and a consensus target price of $91.50.

Southern Copper 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.