First National Trust Co Boosts Stake in Southern Copper Co. (NYSE:SCCO)

First National Trust Co boosted its stake in shares of Southern Copper Co. (NYSE:SCCO) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,134 shares of the basic materials company’s stock after buying an additional 150 shares during the period. First National Trust Co’s holdings in Southern Copper were worth $3,196,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Janiczek Wealth Management LLC lifted its holdings in shares of Southern Copper by 11.5% during the 4th quarter. Janiczek Wealth Management LLC now owns 1,227 shares of the basic materials company’s stock valued at $106,000 after purchasing an additional 127 shares during the last quarter. CWM LLC lifted its holdings in shares of Southern Copper by 3.3% during the 4th quarter. CWM LLC now owns 4,329 shares of the basic materials company’s stock valued at $373,000 after purchasing an additional 137 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Southern Copper by 2.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 6,592 shares of the basic materials company’s stock valued at $496,000 after purchasing an additional 173 shares during the last quarter. Dfpg Investments LLC lifted its holdings in shares of Southern Copper by 1.4% during the 4th quarter. Dfpg Investments LLC now owns 13,188 shares of the basic materials company’s stock valued at $1,106,000 after purchasing an additional 176 shares during the last quarter. Finally, Kovack Advisors Inc. lifted its holdings in shares of Southern Copper by 3.8% during the 4th quarter. Kovack Advisors Inc. now owns 4,978 shares of the basic materials company’s stock valued at $428,000 after purchasing an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of NYSE SCCO traded up $2.39 during trading on Friday, reaching $115.41. 1,525,644 shares of the company traded hands, compared to its average volume of 1,506,725. The firm’s fifty day simple moving average is $102.47 and its 200 day simple moving average is $86.74. The stock has a market cap of $89.22 billion, a P/E ratio of 37.96, a PEG ratio of 3.18 and a beta of 1.27. Southern Copper Co. has a 12-month low of $64.66 and a 12-month high of $121.00. The company has a current ratio of 3.31, a quick ratio of 2.46 and a debt-to-equity ratio of 0.82.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Southern Copper had a net margin of 24.20% and a return on equity of 30.44%. As a group, research analysts anticipate that Southern Copper Co. will post 4.01 earnings per share for the current fiscal year.

Southern Copper Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Southern Copper’s payout ratio is currently 105.26%.

Insider Buying and Selling at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 300 shares of Southern Copper stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $118.50, for a total transaction of $35,550.00. Following the completion of the transaction, the director now owns 4,614 shares in the company, valued at approximately $546,759. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 600 shares of company stock worth $63,430. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on SCCO. Scotiabank increased their price objective on Southern Copper from $53.00 to $55.00 and gave the company a “sector underperform” rating in a report on Thursday, April 18th. Morgan Stanley increased their price objective on Southern Copper from $123.00 to $135.00 and gave the company an “underweight” rating in a report on Tuesday. JPMorgan Chase & Co. reduced their target price on Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a research note on Thursday, March 21st. The Goldman Sachs Group raised their target price on Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a research note on Friday, March 22nd. Finally, Jefferies Financial Group upgraded Southern Copper from a “hold” rating to a “buy” rating and raised their target price for the stock from $91.00 to $130.00 in a research note on Friday, March 22nd. Five analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Southern Copper presently has an average rating of “Hold” and a consensus target price of $90.50.

Southern Copper Company 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.