North Dakota State Investment Board Takes Position in Southern Copper Corporation $SCCO

North Dakota State Investment Board bought a new stake in shares of Southern Copper Corporation (NYSE:SCCO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,942 shares of the basic materials company’s stock, valued at approximately $422,000.

Other institutional investors have also recently modified their holdings of the company. Hopwood Financial Services Inc. bought a new stake in shares of Southern Copper during the 3rd quarter valued at $25,000. United Community Bank bought a new stake in shares of Southern Copper during the 3rd quarter valued at $30,000. Caitlin John LLC bought a new stake in shares of Southern Copper during the 3rd quarter valued at $30,000. International Assets Investment Management LLC bought a new stake in shares of Southern Copper during the 4th quarter valued at $37,000. Finally, Bayforest Capital Ltd bought a new stake in shares of Southern Copper during the 4th quarter valued at $38,000. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Price Performance

Shares of SCCO stock opened at $179.68 on Friday. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. Southern Copper Corporation has a twelve month low of $88.73 and a twelve month high of $223.88. The company has a market cap of $147.18 billion, a P/E ratio of 29.70, a P/E/G ratio of 1.77 and a beta of 1.07. The business has a fifty day simple moving average of $177.58 and a 200 day simple moving average of $169.41.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.04. The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $3.96 billion. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%. On average, sell-side analysts forecast that Southern Copper Corporation will post 6.93 EPS for the current fiscal year.

Southern Copper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th will be given a $1.00 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $4.00 annualized dividend and a yield of 2.2%. Southern Copper’s dividend payout ratio (DPR) is currently 66.12%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SCCO shares. JPMorgan Chase & Co. upped their price objective on Southern Copper from $117.50 to $127.00 and gave the stock an “underweight” rating in a research report on Friday, April 10th. Scotiabank restated an “underperform” rating and set a $135.00 price objective (up from $133.00) on shares of Southern Copper in a research report on Friday, May 15th. Weiss Ratings restated a “buy (b)” rating on shares of Southern Copper in a research report on Friday, March 27th. Wells Fargo & Company set a $171.00 price objective on Southern Copper and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $145.14.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the transaction, the director directly owned 1,807 shares in the company, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 500 shares of company stock valued at $88,412 in the last ninety days. 0.07% of the stock is currently owned by company 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.