Southern Copper Corporation $SCCO Shares Purchased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of 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 & Exchange Commission. The institutional investor owned 83,119 shares of the basic materials company’s stock after acquiring an additional 3,599 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Southern Copper were worth $11,925,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. BNP Paribas Financial Markets increased its holdings in shares of 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 valued at $49,992,000 after acquiring an additional 121,111 shares in the last quarter. Norges Bank acquired a new position in shares of Southern Copper during the fourth quarter valued at about $97,645,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Southern Copper during the fourth quarter valued at about $2,121,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Southern Copper by 50.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,268 shares of the basic materials company’s stock valued at $1,043,000 after acquiring an additional 2,439 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in Southern Copper by 0.8% in 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 period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Ratings Changes

SCCO has been the topic of several research reports. Bank of America downgraded shares of Southern Copper from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $162.00 to $175.00 in a report on Thursday, February 26th. UBS Group increased their price target on shares of Southern Copper from $140.00 to $145.00 and gave the stock a “sell” rating in a report on Thursday, May 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern Copper in a report on Friday, March 27th. Morgan Stanley increased their price target 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. Finally, The Goldman Sachs Group upgraded shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target on the stock in a report on Friday, April 10th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and eight have given a Sell rating to the stock. Based on data from MarketBeat, Southern Copper presently has a consensus rating of “Reduce” and an average price target of $145.14.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $194.64 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. Southern Copper Corporation has a fifty-two week low of $88.73 and a fifty-two week high of $223.88. The company has a market capitalization of $159.43 billion, a price-to-earnings ratio of 32.17, a P/E/G ratio of 1.89 and a beta of 1.09. The company has a 50 day simple moving average of $179.72 and a two-hundred day simple moving average of $171.94.

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

Southern Copper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.1%. The ex-dividend date was Wednesday, May 13th. Southern Copper’s dividend payout ratio is presently 66.12%.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the sale, the director directly owned 1,807 shares of the company’s stock, valued at $321,320.74. The trade was a 9.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 500 shares of company stock worth $88,412. Corporate insiders own 0.07% of the company’s stock.

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.