Southern Copper Co. (NYSE:SCCO) Shares Acquired by First National Trust Co

First National Trust Co boosted its holdings in Southern Copper Co. (NYSE:SCCO) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,519 shares of the basic materials company’s stock after acquiring an additional 385 shares during the period. First National Trust Co’s holdings in Southern Copper were worth $4,042,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SCCO. Capital World Investors acquired a new position in Southern Copper in the first quarter valued at approximately $340,373,000. Price T Rowe Associates Inc. MD lifted its holdings in Southern Copper by 18.1% in 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 acquiring an additional 1,192,111 shares during the last quarter. Norges Bank acquired a new position in Southern Copper during the fourth quarter worth $71,802,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Southern Copper by 54.6% during the first 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, Lord Abbett & CO. LLC acquired a new position in Southern Copper during the first quarter worth $27,163,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Southern Copper Stock Up 0.2 %

Shares of NYSE:SCCO opened at $96.33 on Thursday. Southern Copper Co. has a fifty-two week low of $68.93 and a fifty-two week high of $129.79. The firm’s 50 day moving average price is $105.49 and its 200 day moving average price is $106.37. 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 stock has a market cap of $75.25 billion, a price-to-earnings ratio of 32.00, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data 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 business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations 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 research analysts predict that Southern Copper Co. will post 4.33 earnings per share for the current fiscal year.

Southern Copper Announces Dividend

The firm also recently disclosed 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 of this dividend was Friday, August 9th. This represents a $2.40 annualized dividend and a dividend yield of 2.49%. Southern Copper’s dividend payout ratio is currently 79.73%.

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.