Susquehanna Fundamental Investments LLC Sells 2,961 Shares of Southern Copper Co. (NYSE:SCCO)

Susquehanna Fundamental Investments LLC reduced its position in shares of Southern Copper Co. (NYSE:SCCO) by 16.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 15,597 shares of the basic materials company’s stock after selling 2,961 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Southern Copper were worth $1,680,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SCCO. Fortis Group Advisors LLC lifted its holdings in Southern Copper by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 151 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Southern Copper in the first quarter worth about $26,000. Riverview Trust Co bought a new position in shares of Southern Copper in the first quarter worth about $27,000. Itau Unibanco Holding S.A. bought a new position in shares of Southern Copper in the second quarter worth about $31,000. Finally, Hanseatic Management Services Inc. bought a new position in shares of Southern Copper in the second quarter worth about $53,000. 7.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SCCO. Morgan Stanley boosted 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. UBS Group began 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. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $89.57.

Southern Copper Trading Up 1.2 %

Shares of NYSE SCCO opened at $117.11 on Wednesday. The company’s 50 day simple moving average is $102.92 and its 200 day simple moving average is $109.13. Southern Copper Co. has a fifty-two week low of $68.93 and a fifty-two week high of $129.79. The firm has a market capitalization of $91.48 billion, a P/E ratio of 38.92, a P/E/G ratio of 1.17 and a beta of 1.17. 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 announced its quarterly earnings data on Friday, July 19th. The basic materials company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.09. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $2.96 billion. On average, analysts predict that Southern Copper Co. will post 4.29 EPS for the current year.

Southern Copper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Friday, August 9th. Southern Copper’s dividend payout ratio (DPR) is currently 79.77%.

Southern Copper 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.