AlphaQuest LLC increased its position in Southern Copper Co. (NYSE:SCCO - Free Report) by 51.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 9,455 shares of the basic materials company's stock after buying an additional 3,227 shares during the period. AlphaQuest LLC's holdings in Southern Copper were worth $862,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. JPMorgan Chase & Co. boosted 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. Itau Unibanco Holding S.A. boosted its stake in Southern Copper by 115,910.7% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company's stock worth $38,915,000 after purchasing an additional 336,141 shares during the period. Fisher Asset Management LLC grew its holdings in Southern Copper by 10.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company's stock valued at $342,796,000 after buying an additional 283,562 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Southern Copper by 1,601.3% during the third quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company's stock valued at $22,275,000 after buying an additional 181,252 shares during the last quarter. Finally, abrdn plc lifted its holdings in shares of Southern Copper by 4.4% in the fourth quarter. abrdn plc now owns 2,849,638 shares of the basic materials company's stock worth $260,428,000 after buying an additional 118,909 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.
Southern Copper Trading Up 3.2 %
NYSE SCCO traded up $2.92 during trading hours on Thursday, hitting $93.26. 590,740 shares of the company were exchanged, compared to its average volume of 1,242,268. The stock has a market cap of $73.26 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a 52 week low of $84.33 and a 52 week high of $129.79. The stock has a 50-day moving average price of $93.71 and a 200 day moving average price of $100.79. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64.
Southern Copper (NYSE:SCCO - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. Analysts forecast that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.
Southern Copper Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Tuesday, February 11th. This is a positive change from Southern Copper's previous quarterly dividend of $0.60. Southern Copper's dividend payout ratio (DPR) is 64.81%.
Analyst Upgrades and Downgrades
Several analysts have commented on SCCO shares. Scotiabank boosted their price target on shares of Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a research note on Monday. Morgan Stanley raised Southern Copper from an "underweight" rating to an "equal weight" rating and dropped their price target for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. UBS Group raised Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 price objective on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. raised Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price objective on the stock in a report on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $97.31.
View Our Latest Analysis on Southern Copper
About Southern Copper
(
Free Report)
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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