Parametric Portfolio Associates LLC trimmed its stake in shares of Southern Copper Corp (NYSE:SCCO) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 956,511 shares of the basic materials company’s stock after selling 11,707 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Southern Copper were worth $37,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of SCCO. Steward Partners Investment Advisory LLC acquired a new stake in Southern Copper during the second quarter worth approximately $31,000. Toronto Dominion Bank acquired a new stake in Southern Copper during the first quarter worth approximately $32,000. NEXT Financial Group Inc acquired a new stake in Southern Copper during the second quarter worth approximately $49,000. Coastal Investment Advisors Inc. grew its stake in Southern Copper by 63.8% during the second quarter. Coastal Investment Advisors Inc. now owns 1,310 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 510 shares during the period. Finally, Manchester Financial Inc. acquired a new stake in Southern Copper during the second quarter worth approximately $63,000. Institutional investors own 6.56% of the company’s stock.

Shares of NYSE:SCCO traded down $0.66 during mid-day trading on Monday, hitting $35.04. 324,156 shares of the company traded hands, compared to its average volume of 856,756. The stock has a market cap of $27.31 billion, a P/E ratio of 17.52, a P/E/G ratio of 1.18 and a beta of 0.93. The company has a current ratio of 2.24, a quick ratio of 1.46 and a debt-to-equity ratio of 0.82. Southern Copper Corp has a 12-month low of $29.01 and a 12-month high of $44.59. The stock has a 50-day moving average price of $32.47 and a two-hundred day moving average price of $36.25.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.02). The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. Southern Copper had a return on equity of 21.75% and a net margin of 20.79%. As a group, analysts expect that Southern Copper Corp will post 2.11 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a $0.40 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $1.60 annualized dividend and a dividend yield of 4.57%. Southern Copper’s payout ratio is presently 80.00%.

SCCO has been the subject of several recent analyst reports. Macquarie initiated coverage on Southern Copper in a research note on Wednesday, July 10th. They set an “underperform” rating and a $35.00 target price for the company. Zacks Investment Research cut Southern Copper from a “strong-buy” rating to a “hold” rating and set a $160.00 target price for the company. in a research note on Tuesday, June 4th. JPMorgan Chase & Co. set a $32.00 target price on Southern Copper and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Bank of America reaffirmed a “buy” rating and set a $46.00 target price on shares of Southern Copper in a research note on Thursday, August 15th. Finally, ValuEngine raised Southern Copper from a “sell” rating to a “hold” rating in a research note on Monday, June 17th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $53.60.

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 and lead.

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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