Whittier Trust Co. of Nevada Inc. Grows Holdings in Southern Copper Corporation (NYSE:SCCO)

Whittier Trust Co. of Nevada Inc. raised its stake in Southern Copper Corporation (NYSE:SCCO) by 517.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,057 shares of the basic materials company’s stock after buying an additional 1,724 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Southern Copper were worth $192,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new stake in Southern Copper in the 4th quarter worth approximately $84,000. Raymond James Financial Inc. bought a new stake in shares of Southern Copper during the fourth quarter worth $8,420,000. HighTower Advisors LLC boosted its holdings in Southern Copper by 11.3% in the fourth quarter. HighTower Advisors LLC now owns 33,014 shares of the basic materials company’s stock valued at $3,009,000 after acquiring an additional 3,362 shares during the last quarter. Madison Investment Advisors LLC bought a new stake in shares of Southern Copper in the 4th quarter valued at about $1,919,000. Finally, Creative Financial Designs Inc. ADV lifted its holdings in shares of Southern Copper by 199.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 667 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 444 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SCCO. JPMorgan Chase & Co. dropped their target price on Southern Copper from $83.50 to $79.00 and set a “neutral” rating on the stock in a research report on Thursday, July 3rd. Morgan Stanley downgraded Southern Copper from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $86.00 to $99.00 in a research note on Tuesday. UBS Group downgraded Southern Copper from a “buy” rating to a “neutral” rating and set a $105.00 price target for the company. in a research note on Tuesday, July 1st. Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, May 20th. Finally, Hsbc Global Res raised Southern Copper from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 24th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, Southern Copper has an average rating of “Hold” and an average price target of $91.00.

Southern Copper Stock Down 0.0%

Shares of NYSE:SCCO opened at $96.63 on Friday. Southern Copper Corporation has a 12-month low of $74.11 and a 12-month high of $118.64. The stock has a fifty day simple moving average of $96.31 and a two-hundred day simple moving average of $93.60. The company has a current ratio of 3.71, a quick ratio of 3.22 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $76.94 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 2.48 and a beta of 1.02.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.14. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.05 billion. Southern Copper had a return on equity of 39.39% and a net margin of 30.00%. On average, research analysts anticipate that Southern Copper Corporation will post 4.66 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were given a dividend of $0.70 per share. This represents a dividend yield of 2.98%. The ex-dividend date was Friday, May 2nd. Southern Copper’s dividend payout ratio is currently 61.27%.

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.