Toronto Dominion Bank Sells 1,084 Shares of Southern Copper Co. (NYSE:SCCO)

Toronto Dominion Bank lessened its stake in shares of Southern Copper Co. (NYSE:SCCO) by 21.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,061 shares of the basic materials company’s stock after selling 1,084 shares during the period. Toronto Dominion Bank’s holdings in Southern Copper were worth $435,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SCCO. Ensign Peak Advisors Inc lifted its position in Southern Copper by 1.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 10,558 shares of the basic materials company’s stock worth $1,138,000 after acquiring an additional 108 shares during the last quarter. Prudential PLC lifted its position in shares of Southern Copper by 1.0% during the 2nd quarter. Prudential PLC now owns 10,667 shares of the basic materials company’s stock worth $1,149,000 after purchasing an additional 109 shares during the last quarter. American Financial Advisors LLC grew its holdings in Southern Copper by 1.0% in the 2nd 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 last quarter. DekaBank Deutsche Girozentrale increased its position in Southern Copper by 0.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 23,758 shares of the basic materials company’s stock worth $2,557,000 after buying an additional 118 shares during the period. Finally, Wahed Invest LLC lifted its holdings in shares of Southern Copper by 9.0% during the fourth quarter. Wahed Invest LLC now owns 1,451 shares of the basic materials company’s stock worth $125,000 after buying an additional 120 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. UBS Group initiated coverage on shares of Southern Copper in a research note on Friday, July 12th. They issued a “neutral” rating and a $120.00 price objective on the stock. Morgan Stanley raised their price target 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. 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.com, the stock presently has an average rating of “Hold” and an average target price of $89.57.

Southern Copper Trading Down 2.7 %

Shares of Southern Copper stock opened at $115.61 on Tuesday. The company’s fifty day moving average price is $102.69 and its two-hundred day moving average price is $109.03. The firm has a market capitalization of $90.31 billion, a PE ratio of 38.43, a price-to-earnings-growth ratio of 1.17 and a beta of 1.17. Southern Copper Co. has a 52-week low of $68.93 and a 52-week 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.

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

Southern Copper Dividend Announcement

The business also recently announced 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 dividend yield of 2.08%. Southern Copper’s dividend payout ratio (DPR) is presently 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.