92,391 Shares in Southern Copper Co. (NYSE:SCCO) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in Southern Copper Co. (NYSE:SCCO - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 92,391 shares of the basic materials company's stock, valued at approximately $8,420,000.

A number of other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in shares of Southern Copper by 74.6% in the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company's stock worth $162,283,000 after acquiring an additional 599,610 shares during the period. Norges Bank acquired a new stake in Southern Copper during the 4th quarter worth about $52,738,000. Renaissance Technologies LLC lifted its holdings in shares of Southern Copper by 1,417.7% in the 4th quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company's stock valued at $37,173,000 after buying an additional 381,035 shares during the period. Wealthfront Advisers LLC purchased a new stake in shares of Southern Copper in the fourth quarter worth about $15,197,000. Finally, Axiom Investors LLC DE purchased a new stake in shares of Southern Copper in the fourth quarter worth about $14,617,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SCCO. JPMorgan Chase & Co. decreased their price target on Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a report on Monday, April 14th. Scotiabank lifted their target price on shares of Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a report on Monday, March 10th. Finally, UBS Group lowered their price target on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $91.50.

Southern Copper Stock Up 2.9 %

Southern Copper stock opened at $89.12 on Wednesday. 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 stock has a market capitalization of $70.95 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. The business has a 50 day simple moving average of $90.92 and a 200-day simple moving average of $97.67. Southern Copper Co. has a 12 month low of $74.84 and a 12 month high of $127.34.

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

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were paid a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This is a positive change from Southern Copper's previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 3.14%. Southern Copper's dividend payout ratio (DPR) is currently 64.81%.

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.

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