Mesirow Financial Investment Management Inc. Trims Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Mesirow Financial Investment Management Inc. lowered its position in shares of Southern Copper Co. (NYSE:SCCO) by 4.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 10,011 shares of the basic materials company’s stock after selling 464 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Southern Copper were worth $1,079,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Norden Group LLC purchased a new stake in Southern Copper in the first quarter valued at approximately $1,820,000. Los Angeles Capital Management LLC boosted its holdings in shares of Southern Copper by 471.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 31,655 shares of the basic materials company’s stock valued at $3,372,000 after acquiring an additional 26,111 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Southern Copper by 395.1% in the first quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock worth $4,133,000 after acquiring an additional 30,966 shares during the period. Corient Private Wealth LLC raised its holdings in shares of Southern Copper by 149.6% during the fourth quarter. Corient Private Wealth LLC now owns 50,057 shares of the basic materials company’s stock worth $4,308,000 after purchasing an additional 29,999 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Southern Copper by 1.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,014,356 shares of the basic materials company’s stock valued at $87,306,000 after purchasing an additional 18,883 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of SCCO stock opened at $99.48 on Tuesday. The company has a market capitalization of $77.71 billion, a P/E ratio of 33.06, a P/E/G ratio of 1.00 and a beta of 1.17. Southern Copper Co. has a 12-month low of $68.93 and a 12-month high of $129.79. The business’s 50 day moving average is $102.96 and its two-hundred day moving average is $107.39. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.09. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. Analysts expect that Southern Copper Co. will post 4.33 EPS for the current fiscal year.

Southern Copper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.40 annualized dividend and a dividend yield of 2.41%. Southern Copper’s dividend payout ratio (DPR) is presently 79.77%.

Analyst Upgrades and Downgrades

SCCO has been the topic of several analyst reports. UBS Group assumed coverage on Southern Copper in a research report on Friday, July 12th. They set a “neutral” rating and a $120.00 price target on the stock. Scotiabank dropped their target price on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a report on Tuesday, May 21st. Finally, Morgan Stanley lifted their price target on Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a research report on Friday, June 21st. Five analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Southern Copper presently has an average rating of “Hold” and a consensus price target of $89.57.

About Southern Copper

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.