Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Southern Copper Co. (NYSE:SCCO) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 57,057 shares of the basic materials company’s stock after buying an additional 566 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Southern Copper were worth $6,147,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Southern Copper by 18.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock valued at $827,804,000 after buying an additional 1,192,111 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Southern Copper by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 3,349,984 shares of the basic materials company’s stock valued at $288,333,000 after buying an additional 39,422 shares during the last quarter. Capital World Investors purchased a new position in shares of Southern Copper in the 1st quarter valued at approximately $340,373,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Southern Copper by 54.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,541,396 shares of the basic materials company’s stock worth $164,190,000 after purchasing an additional 544,312 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Southern Copper by 1.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,014,356 shares of the basic materials company’s stock worth $87,306,000 after purchasing an additional 18,883 shares in the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SCCO shares. Morgan Stanley lifted their target price on shares of Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, June 21st. UBS Group started coverage on shares of Southern Copper in a research note on Friday, July 12th. They issued a “neutral” rating and a $120.00 target price for the company. StockNews.com upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. Finally, Scotiabank decreased their price objective on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating for the company in a research note on Tuesday, May 21st. Five research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Southern Copper presently has an average rating of “Hold” and an average price target of $89.57.

Southern Copper Stock Performance

Shares of NYSE:SCCO traded down $1.18 during trading on Friday, hitting $100.25. 295,695 shares of the stock traded hands, compared to its average volume of 1,162,637. 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 $78.31 billion, a price-to-earnings ratio of 33.37, a P/E/G ratio of 1.06 and a beta of 1.20. The company has a fifty day moving average price of $106.50 and a two-hundred day moving average price of $105.73. Southern Copper Co. has a 52-week low of $68.93 and a 52-week high of $129.79.

Southern Copper (NYSE:SCCO) last posted its earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share for the quarter, beating 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%. As a group, equities analysts predict that Southern Copper Co. will post 4.33 EPS for the current year.

Southern Copper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Friday, August 9th. Southern Copper’s dividend payout ratio (DPR) is 79.73%.

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.