Nuveen Asset Management LLC Sells 11,458 Shares of Southern Copper Co. (NYSE:SCCO)

Nuveen Asset Management LLC cut its stake in Southern Copper Co. (NYSE:SCCO) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 295,107 shares of the basic materials company’s stock after selling 11,458 shares during the quarter. Nuveen Asset Management LLC’s holdings in Southern Copper were worth $26,893,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its stake in shares of Southern Copper by 22.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 137,019 shares of the basic materials company’s stock valued at $12,487,000 after acquiring an additional 24,933 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Southern Copper in the 4th quarter valued at approximately $8,420,000. Charles Schwab Investment Management Inc. grew its position in shares of Southern Copper by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 237,437 shares of the basic materials company’s stock valued at $21,638,000 after purchasing an additional 4,889 shares during the period. Geneos Wealth Management Inc. acquired a new position in shares of Southern Copper in the 4th quarter valued at approximately $308,000. Finally, Vantage Investment Partners LLC grew its position in shares of Southern Copper by 21.8% in the 4th quarter. Vantage Investment Partners LLC now owns 139,554 shares of the basic materials company’s stock valued at $12,718,000 after purchasing an additional 24,987 shares during the period. 7.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SCCO has been the subject of several research analyst reports. Wall Street Zen lowered Southern Copper from a “buy” rating to a “hold” rating in a research report on Tuesday. Hsbc Global Res upgraded Southern Copper from a “moderate sell” rating to a “hold” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price objective on Southern Copper from $84.00 to $83.50 and set a “neutral” rating for the company in a research report on Monday, April 14th. Scotiabank boosted their price objective on Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research report on Monday, March 10th. Finally, UBS Group decreased their price objective on Southern Copper from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $91.50.

Southern Copper Trading Down 0.6%

NYSE:SCCO opened at $90.36 on Friday. Southern Copper Co. has a twelve month low of $74.11 and a twelve month high of $119.97. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The business has a 50 day moving average price of $90.38 and a two-hundred day moving average price of $94.38. The company has a market cap of $71.94 billion, a P/E ratio of 20.92, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, topping 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 firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.05 billion. As a group, analysts expect that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Dividend Announcement

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

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.