4,728 Southern Copper Corporation $SCCO Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its position in Southern Copper Corporation (NYSE:SCCO) by 2.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 214,010 shares of the basic materials company’s stock after selling 4,728 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Southern Copper were worth $43,367,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Southern Copper during the 2nd quarter worth $1,078,000. Fund Advisors of America Inc FL acquired a new stake in Southern Copper in the second quarter worth approximately $870,000. RFG Advisory LLC grew its holdings in shares of Southern Copper by 143.7% in the 2nd quarter. RFG Advisory LLC now owns 21,727 shares of the basic materials company’s stock worth $3,786,000 after acquiring an additional 12,811 shares during the last quarter. HighTower Advisors LLC grew its position in Southern Copper by 11.9% in the second quarter. HighTower Advisors LLC now owns 58,421 shares of the basic materials company’s stock worth $10,180,000 after acquiring an additional 6,195 shares in the last quarter. Finally, Equitable Holdings Inc. bought a new stake in Southern Copper during the 2nd quarter valued at approximately $505,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Up 2.0%

Shares of Southern Copper stock opened at $177.04 on Thursday. The firm has a market cap of $147.71 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 1.60 and a beta of 1.15. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.31 and a quick ratio of 4.56. The company has a 50-day moving average of $196.50 and a 200 day moving average of $185.56. Southern Copper Corporation has a 1 year low of $119.25 and a 1 year high of $223.88.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, October 21st. The basic materials company reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.12. Southern Copper had a return on equity of 51.61% and a net margin of 37.16%. The company had revenue of $4.70 billion for the quarter, compared to analysts’ expectations of $4.49 billion. During the same quarter last year, the business earned $1.34 earnings per share. As a group, sell-side analysts anticipate that Southern Copper Corporation will post 8.03 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Tuesday, November 3rd will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.9%. This is a boost from Southern Copper’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Tuesday, November 3rd. Southern Copper’s payout ratio is presently 68.06%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SCCO. Zacks Research cut shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. CICC Research cut Southern Copper to a “market perform” rating in a report on Sunday, July 26th. Wall Street Zen upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Weiss Ratings downgraded shares of Southern Copper from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 30th. Finally, Barclays set a $163.27 price objective on shares of Southern Copper and gave the company an “underweight” rating in a report on Monday, October 26th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $159.26.

Southern Copper Company Profile

Southern Copper Corporation (NYSE:SCCO) is a mining and metals company engaged primarily in the exploration, development, extraction, processing and production of copper. The company also produces molybdenum, zinc, silver and lead, along with related byproducts. Its operations include open-pit mines, underground mines, concentrators, smelters, refineries and other processing facilities.

Southern Copper operates mainly in Peru and Mexico. Its Peruvian assets include the Toquepala and Cuajone copper mines, while its Mexican operations include the Buenavista del Cobre and La Caridad mines, as well as associated processing and infrastructure facilities.