Black Swift Group LLC Purchases Shares of 18,750 Southern Copper Co. (NYSE:SCCO)

Black Swift Group LLC purchased a new stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,750 shares of the basic materials company's stock, valued at approximately $1,709,000.

Other hedge funds have also modified their holdings of the company. Creative Financial Designs Inc. ADV grew its stake in shares of Southern Copper by 172.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 141 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its stake in Southern Copper by 210.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock valued at $35,000 after acquiring an additional 257 shares during the last quarter. IFP Advisors Inc boosted its stake in Southern Copper by 143.4% in the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock valued at $43,000 after acquiring an additional 281 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Southern Copper in the third quarter valued at approximately $47,000. Finally, Larson Financial Group LLC boosted its stake in Southern Copper by 578.3% in the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company's stock valued at $47,000 after acquiring an additional 347 shares during the last quarter. 7.94% of the stock is owned by institutional investors.

Southern Copper Trading Up 0.2 %

SCCO traded up $0.20 during mid-day trading on Friday, hitting $91.02. The stock had a trading volume of 2,167,481 shares, compared to its average volume of 1,235,972. The stock's fifty day simple moving average is $93.83 and its 200-day simple moving average is $101.10. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The firm has a market capitalization of $71.50 billion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a 1-year low of $84.33 and a 1-year high of $129.79.

Remove Ads

Southern Copper (NYSE:SCCO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 EPS for the quarter, missing analysts' consensus estimates of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. As a group, research analysts forecast that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.08%. This is a positive change from Southern Copper's previous quarterly dividend of $0.60. The ex-dividend date was Tuesday, February 11th. Southern Copper's dividend payout ratio (DPR) is presently 64.81%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Morgan Stanley raised shares of Southern Copper from an "underweight" rating to an "equal weight" rating and reduced their price objective for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. raised shares of Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price objective on the stock in a research note on Monday, December 2nd. Four analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $94.81.

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.