Bank of Montreal Can Has $8.77 Million Holdings in Southern Copper Co. (NYSE:SCCO)

Bank of Montreal Can raised its position in shares of Southern Copper Co. (NYSE:SCCO) by 129.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,712 shares of the basic materials company’s stock after buying an additional 45,020 shares during the period. Bank of Montreal Can’s holdings in Southern Copper were worth $8,772,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Magnetar Financial LLC bought a new position in Southern Copper in the 2nd quarter valued at $2,361,000. Public Sector Pension Investment Board raised its holdings in shares of Southern Copper by 1.0% in the second quarter. Public Sector Pension Investment Board now owns 74,248 shares of the basic materials company’s stock valued at $7,999,000 after buying an additional 760 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in Southern Copper during the 2nd quarter worth about $31,000. Fidelis Capital Partners LLC grew its holdings in Southern Copper by 1,998.3% during the 2nd quarter. Fidelis Capital Partners LLC now owns 5,078 shares of the basic materials company’s stock worth $547,000 after acquiring an additional 4,836 shares during the last quarter. Finally, Greenline Partners LLC increased its position in Southern Copper by 0.4% in the 2nd quarter. Greenline Partners LLC now owns 92,986 shares of the basic materials company’s stock valued at $10,102,000 after acquiring an additional 369 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SCCO shares. Morgan Stanley upped their target price on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. 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 objective on the stock. Five investment 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, Southern Copper currently has a consensus rating of “Hold” and a consensus price target of $89.57.

Southern Copper Stock Performance

SCCO stock opened at $115.61 on Tuesday. Southern Copper Co. has a twelve month low of $68.93 and a twelve month high of $129.79. The business’s fifty day moving average is $102.69 and its 200-day moving average is $109.03. 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 company has a market cap of $90.31 billion, a P/E ratio of 38.43, a price-to-earnings-growth ratio of 1.17 and a beta of 1.17.

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

Southern Copper Dividend Announcement

The company also recently declared 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 was Friday, August 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.08%. Southern Copper’s dividend payout ratio is 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.