Deprince Race & Zollo Inc. Sells 9,350 Shares of Southern Copper Co. (NYSE:SCCO)

Deprince Race & Zollo Inc. reduced its position in shares of Southern Copper Co. (NYSE:SCCO) by 7.4% in the second quarter, HoldingsChannel reports. The firm owned 116,966 shares of the basic materials company’s stock after selling 9,350 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in Southern Copper were worth $12,602,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Fortis Group Advisors LLC increased its holdings 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 acquiring an additional 151 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Southern Copper in the 1st quarter valued at $26,000. Riverview Trust Co purchased a new stake in shares of Southern Copper in the first quarter worth about $27,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Southern Copper during the 2nd quarter worth approximately $31,000. Finally, Hanseatic Management Services Inc. purchased a new stake in Southern Copper during the second quarter valued at $53,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

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

Southern Copper Trading Up 8.2 %

NYSE SCCO opened at $120.41 on Friday. Southern Copper Co. has a 1 year low of $68.93 and a 1 year 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. The company has a market capitalization of $94.06 billion, a PE ratio of 40.02, a P/E/G ratio of 1.09 and a beta of 1.17. The company has a fifty day moving average of $101.86 and a 200 day moving average of $108.35.

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

Southern Copper Announces Dividend

The company also recently declared 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 of this dividend was Friday, August 9th. This represents a $2.40 annualized dividend and a yield of 1.99%. Southern Copper’s dividend payout ratio is presently 79.77%.

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.