National Bank of Canada FI Sells 1,766 Shares of Southern Copper Co. (NYSE:SCCO)

National Bank of Canada FI lowered its stake in Southern Copper Co. (NYSE:SCCO) by 81.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 407 shares of the basic materials company’s stock after selling 1,766 shares during the quarter. National Bank of Canada FI’s holdings in Southern Copper were worth $44,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in Southern Copper by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 226,664 shares of the basic materials company’s stock worth $19,509,000 after acquiring an additional 5,521 shares during the period. Ieq Capital LLC bought a new position in shares of Southern Copper in the fourth quarter worth about $202,000. Panagora Asset Management Inc. lifted its position in shares of Southern Copper by 45.7% during the 4th quarter. Panagora Asset Management Inc. now owns 29,458 shares of the basic materials company’s stock worth $2,535,000 after purchasing an additional 9,239 shares during the last quarter. Financial Advocates Investment Management bought a new stake in Southern Copper during the 4th quarter valued at approximately $259,000. Finally, Independent Advisor Alliance acquired a new stake in Southern Copper in the 4th quarter valued at approximately $809,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Scotiabank cut their price target on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating for the company in a report on Tuesday, May 21st. UBS Group initiated coverage on shares of Southern Copper in a report on Friday, July 12th. They issued a “neutral” rating and a $120.00 price target for the company. Finally, Morgan Stanley boosted their price objective on shares of Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a report on Friday, June 21st. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $89.57.

Southern Copper Trading Up 0.7 %

Shares of Southern Copper stock opened at $98.69 on Monday. The company’s fifty day moving average price is $103.30 and its two-hundred day moving average price is $107.26. The firm has a market capitalization of $77.09 billion, a PE ratio of 32.79, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. Southern Copper Co. has a 52-week low of $68.93 and a 52-week high of $129.79. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.81 and a quick ratio of 2.27.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.09. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $2.96 billion. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. On average, analysts expect that Southern Copper Co. will post 4.33 EPS for the current year.

Southern Copper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a dividend of $0.60 per share. The ex-dividend date was Friday, August 9th. This represents a $2.40 annualized dividend and a dividend yield of 2.43%. Southern Copper’s dividend payout ratio (DPR) is presently 79.73%.

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.