Deprince Race & Zollo Inc. lifted its stake in shares of Southern Copper Corp (NYSE:SCCO) by 34.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 148,800 shares of the basic materials company’s stock after buying an additional 38,200 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in Southern Copper were worth $5,781,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in SCCO. BlackRock Inc. grew its position in shares of Southern Copper by 12.3% during the first quarter. BlackRock Inc. now owns 7,029,250 shares of the basic materials company’s stock worth $278,922,000 after buying an additional 768,391 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of Southern Copper during the first quarter worth about $28,951,000. Delek Group Ltd. acquired a new position in shares of Southern Copper during the first quarter worth about $19,347,000. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of Southern Copper by 84.3% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 797,772 shares of the basic materials company’s stock worth $30,993,000 after buying an additional 364,888 shares in the last quarter. Finally, Barings LLC acquired a new position in shares of Southern Copper during the first quarter worth about $7,858,000. 6.59% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE SCCO opened at $34.56 on Thursday. The company has a current ratio of 2.24, a quick ratio of 1.46 and a debt-to-equity ratio of 0.82. Southern Copper Corp has a twelve month low of $29.01 and a twelve month high of $44.59. The stock has a 50 day moving average of $32.51 and a two-hundred day moving average of $36.25. The stock has a market cap of $26.61 billion, a P/E ratio of 17.28, a P/E/G ratio of 1.13 and a beta of 0.93.
Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.02). Southern Copper had a net margin of 20.79% and a return on equity of 21.75%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.84 billion. As a group, research analysts predict that Southern Copper Corp will post 2.11 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend was Wednesday, August 7th. Southern Copper’s dividend payout ratio is currently 80.00%.
A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. set a $32.00 price objective on Southern Copper and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Zacks Investment Research downgraded Southern Copper from a “strong-buy” rating to a “hold” rating and set a $160.00 price target for the company. in a report on Tuesday, June 4th. ValuEngine raised Southern Copper from a “sell” rating to a “hold” rating in a report on Monday, June 17th. Bank of America reaffirmed a “buy” rating and issued a $46.00 price target on shares of Southern Copper in a report on Thursday, August 15th. Finally, Macquarie began coverage on Southern Copper in a report on Wednesday, July 10th. They issued an “underperform” rating and a $35.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Southern Copper has an average rating of “Hold” and a consensus target price of $53.60.
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 and lead.
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