Southern Copper Co. (NYSE:SCCO) Shares Bought by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc raised its holdings in Southern Copper Co. (NYSE:SCCO) by 1.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,558 shares of the basic materials company’s stock after purchasing an additional 108 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Southern Copper were worth $1,138,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SCCO. Fidelis Capital Partners LLC purchased a new stake in shares of Southern Copper in the first quarter worth about $26,000. Riverview Trust Co acquired a new position in Southern Copper in the first quarter valued at approximately $27,000. Fortis Group Advisors LLC boosted its position in Southern Copper by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 151 shares in the last quarter. Hanseatic Management Services Inc. acquired a new stake in shares of Southern Copper during the 2nd quarter worth approximately $53,000. Finally, Blue Trust Inc. grew its stake in shares of Southern Copper by 215.4% during the 2nd quarter. Blue Trust Inc. now owns 1,126 shares of the basic materials company’s stock worth $120,000 after purchasing an additional 769 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SCCO shares. UBS Group assumed coverage on shares of Southern Copper in a research note on Friday, July 12th. They issued a “neutral” rating and a $120.00 target price for the company. Morgan Stanley increased their target price on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research note on Thursday, September 19th. Five equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Southern Copper has an average rating of “Hold” and a consensus target price of $89.57.

Southern Copper Stock Down 1.3 %

SCCO stock opened at $118.87 on Friday. Southern Copper Co. has a 52 week low of $68.93 and a 52 week high of $129.79. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67. The firm has a 50-day simple moving average of $102.48 and a 200-day simple moving average of $108.66. The stock has a market capitalization of $92.86 billion, a P/E ratio of 39.51, a P/E/G ratio of 1.17 and a beta of 1.17.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Friday, July 19th. The basic materials company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.13 by $0.09. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $2.96 billion. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. Equities analysts forecast that Southern Copper Co. will post 4.29 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a $0.60 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.40 dividend on an annualized basis and a yield of 2.02%. Southern Copper’s payout ratio is currently 79.77%.

About Southern Copper

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.