Prudential Financial Inc. raised its holdings in shares of Southern Copper Corp (NYSE:SCCO) by 220.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 208,779 shares of the basic materials company’s stock after acquiring an additional 143,720 shares during the period. Prudential Financial Inc.’s holdings in Southern Copper were worth $9,007,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its stake in Southern Copper by 6.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 18,758 shares of the basic materials company’s stock worth $879,000 after acquiring an additional 1,196 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in Southern Copper by 16.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 8,748 shares of the basic materials company’s stock worth $410,000 after acquiring an additional 1,227 shares during the period. CIBC Asset Management Inc lifted its stake in Southern Copper by 4.9% in the second quarter. CIBC Asset Management Inc now owns 33,580 shares of the basic materials company’s stock worth $1,574,000 after acquiring an additional 1,558 shares during the period. FMR LLC lifted its stake in Southern Copper by 35.4% in the second quarter. FMR LLC now owns 8,424 shares of the basic materials company’s stock worth $395,000 after acquiring an additional 2,203 shares during the period. Finally, Piedmont Investment Advisors LLC purchased a new stake in Southern Copper in the second quarter worth $122,000. Institutional investors and hedge funds own 7.32% of the company’s stock.

Shares of Southern Copper stock opened at $32.81 on Thursday. The company has a quick ratio of 1.88, a current ratio of 2.71 and a debt-to-equity ratio of 0.90. The firm has a market cap of $25.36 billion, a price-to-earnings ratio of 21.31 and a beta of 0.69. Southern Copper Corp has a 12 month low of $31.17 and a 12 month high of $58.09.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Southern Copper had a net margin of 13.24% and a return on equity of 14.97%. Sell-side analysts anticipate that Southern Copper Corp will post 2.18 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.88%. The ex-dividend date was Tuesday, November 6th.

A number of brokerages recently commented on SCCO. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating in a research note on Thursday. HSBC lowered Southern Copper from a “hold” rating to a “reduce” rating and set a $32.12 price target for the company. in a research note on Sunday. Bradesco Corretora raised Southern Copper from an “underperform” rating to a “hold” rating and dropped their price target for the stock from $45.00 to $42.00 in a research note on Tuesday, November 20th. Citigroup raised Southern Copper from a “sell” rating to a “neutral” rating and set a $43.00 price target for the company in a research note on Monday, October 8th. Finally, B. Riley dropped their price target on Southern Copper from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday, September 19th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Southern Copper has an average rating of “Hold” and a consensus price target of $43.31.

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Southern Copper Company Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Chile, and Ecuador. 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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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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