Amalgamated Bank Has $627,000 Stock Position in Southern Copper Co. (NYSE:SCCO)

Amalgamated Bank raised its stake in Southern Copper Co. (NYSE:SCCO) by 3.4% in the second quarter, Holdings Channel reports. The fund owned 5,824 shares of the basic materials company’s stock after purchasing an additional 190 shares during the quarter. Amalgamated Bank’s holdings in Southern Copper were worth $627,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SCCO. Prudential PLC increased its position in Southern Copper by 1.0% during the 2nd quarter. Prudential PLC now owns 10,667 shares of the basic materials company’s stock valued at $1,149,000 after purchasing an additional 109 shares during the period. American Financial Advisors LLC grew its position in Southern Copper by 1.0% during the second quarter. American Financial Advisors LLC now owns 11,718 shares of the basic materials company’s stock valued at $1,262,000 after buying an additional 117 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Southern Copper by 0.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 23,758 shares of the basic materials company’s stock valued at $2,557,000 after buying an additional 118 shares during the period. Wahed Invest LLC increased its stake in shares of Southern Copper by 9.0% in the fourth quarter. Wahed Invest LLC now owns 1,451 shares of the basic materials company’s stock worth $125,000 after purchasing an additional 120 shares in the last quarter. Finally, Parsons Capital Management Inc. RI raised its stake in shares of Southern Copper by 0.5% during the 2nd quarter. Parsons Capital Management Inc. RI now owns 26,271 shares of the basic materials company’s stock valued at $2,830,000 after purchasing an additional 141 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Performance

Southern Copper stock opened at $118.87 on Friday. The company has a market capitalization of $92.86 billion, a P/E ratio of 39.51, a PEG ratio of 1.17 and a beta of 1.17. Southern Copper Co. has a twelve month low of $68.93 and a twelve month 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 stock’s 50 day moving average is $102.48 and its 200 day moving average is $108.66.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $2.96 billion. On average, equities research analysts predict that Southern Copper Co. will post 4.29 earnings per share for the current fiscal year.

Southern Copper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders 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 dividend yield of 2.02%. Southern Copper’s payout ratio is 79.77%.

Analysts Set New Price Targets

Several analysts have weighed in on SCCO shares. UBS Group began coverage on Southern Copper in a report on Friday, July 12th. They issued a “neutral” rating and a $120.00 price target on the stock. Morgan Stanley upped their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Five 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $89.57.

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.