Sumitomo Mitsui Trust Group Inc. Has $28.10 Million Position in Southern Copper Corporation $SCCO

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 4.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 231,502 shares of the basic materials company’s stock after purchasing an additional 9,656 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Southern Copper were worth $28,095,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Southern Copper during the 2nd quarter worth $57,901,000. HRT Financial LP acquired a new position in Southern Copper during the 2nd quarter worth $29,771,000. Man Group plc boosted its holdings in Southern Copper by 65.4% during the second quarter. Man Group plc now owns 467,119 shares of the basic materials company’s stock valued at $47,258,000 after acquiring an additional 184,641 shares during the period. JPMorgan Chase & Co. grew its position in shares of Southern Copper by 10.8% in the second quarter. JPMorgan Chase & Co. now owns 1,719,883 shares of the basic materials company’s stock valued at $174,002,000 after purchasing an additional 168,005 shares during the last quarter. Finally, Ossiam grew its position in shares of Southern Copper by 236,557.7% in the second quarter. Ossiam now owns 168,027 shares of the basic materials company’s stock valued at $16,999,000 after purchasing an additional 167,956 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of NYSE SCCO opened at $181.06 on Friday. The business has a fifty day simple moving average of $144.72 and a 200 day simple moving average of $122.38. The company has a current ratio of 4.52, a quick ratio of 3.91 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $147.06 billion, a price-to-earnings ratio of 37.96, a PEG ratio of 1.53 and a beta of 1.06. Southern Copper Corporation has a one year low of $74.84 and a one year high of $184.17.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Friday, October 31st. The basic materials company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. Southern Copper had a net margin of 30.98% and a return on equity of 38.74%. The firm had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.05 billion. Sell-side analysts expect that Southern Copper Corporation will post 4.66 EPS for the current year.

Southern Copper Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Wednesday, November 12th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, November 12th. Southern Copper’s dividend payout ratio is 75.47%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SCCO. UBS Group restated a “neutral” rating and set a $143.00 target price (up previously from $135.00) on shares of Southern Copper in a research note on Friday, December 12th. Wall Street Zen lowered Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Jefferies Financial Group set a $155.00 price objective on shares of Southern Copper and gave the stock a “buy” rating in a research note on Monday, October 6th. JPMorgan Chase & Co. boosted their target price on shares of Southern Copper from $114.50 to $119.50 and gave the stock a “neutral” rating in a research report on Thursday, December 18th. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $129.00 price target on shares of Southern Copper in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Southern Copper currently has a consensus rating of “Reduce” and a consensus target price of $129.05.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 400 shares of Southern Copper stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $139.00, for a total transaction of $55,600.00. Following the sale, the director directly owned 1,265 shares of the company’s stock, valued at approximately $175,835. The trade was a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 948 shares of company stock worth $131,130 in the last three months. 0.07% of the stock is owned by company insiders.

About Southern Copper

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.