Southern Copper Corporation (NYSE:SCCO) Shares Acquired by Ballentine Partners LLC

Ballentine Partners LLC boosted its holdings in Southern Copper Corporation (NYSE:SCCO) by 16.5% in the first quarter, HoldingsChannel.com reports. The firm owned 3,539 shares of the basic materials company’s stock after acquiring an additional 501 shares during the period. Ballentine Partners LLC’s holdings in Southern Copper were worth $331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in SCCO. Charles Schwab Investment Management Inc. boosted its holdings in Southern Copper by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,437 shares of the basic materials company’s stock worth $21,638,000 after purchasing an additional 4,889 shares during the period. Proficio Capital Partners LLC acquired a new position in Southern Copper in the fourth quarter worth $84,000. Raymond James Financial Inc. acquired a new position in Southern Copper in 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 worth $3,009,000 after purchasing an additional 3,362 shares during the period. Finally, Swiss National Bank boosted its holdings in Southern Copper by 0.4% in the fourth quarter. Swiss National Bank now owns 196,866 shares of the basic materials company’s stock worth $17,940,000 after purchasing an additional 815 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $97.65 on Wednesday. Southern Copper Corporation has a fifty-two week low of $74.11 and a fifty-two week high of $118.64. The firm’s 50-day simple moving average is $95.95 and its 200 day simple moving average is $93.55. The company has a quick ratio of 3.22, a current ratio of 3.71 and a debt-to-equity ratio of 0.70. The stock has a market cap of $77.74 billion, a P/E ratio of 21.37, a P/E/G ratio of 2.29 and a beta of 1.02.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. Southern Copper had a net margin of 30.00% and a return on equity of 39.39%. The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Equities analysts expect that Southern Copper Corporation will post 4.66 EPS for the current year.

Southern Copper Announces Dividend

The firm also recently declared a dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were given a $0.70 dividend. This represents a yield of 2.98%. The ex-dividend date of this dividend was Friday, May 2nd. Southern Copper’s dividend payout ratio (DPR) is presently 61.27%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Morgan Stanley downgraded shares of 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 report on Tuesday. Hsbc Global Res raised shares of Southern Copper from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 24th. Wall Street Zen downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Tuesday, May 20th. Itau BBA Securities raised shares of Southern Copper from an “underperform” rating to a “market perform” rating in a report on Wednesday, June 11th. Finally, UBS Group downgraded shares of Southern Copper from a “buy” rating to a “neutral” rating and set a $105.00 price target for the company. in a report on Tuesday, July 1st. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $91.00.

Southern Copper 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.