Amundi Purchases 32,883 Shares of Southern Copper Co. (NYSE:SCCO)

Amundi lifted its stake in Southern Copper Co. (NYSE:SCCO - Free Report) by 23.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 174,213 shares of the basic materials company's stock after purchasing an additional 32,883 shares during the quarter. Amundi's holdings in Southern Copper were worth $16,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC lifted its position in Southern Copper by 10.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company's stock worth $342,796,000 after buying an additional 283,562 shares in the last quarter. abrdn plc raised its holdings in shares of Southern Copper by 4.4% during the fourth quarter. abrdn plc now owns 2,849,638 shares of the basic materials company's stock worth $260,428,000 after acquiring an additional 118,909 shares in the last quarter. State Street Corp boosted its position in Southern Copper by 1.0% during the third quarter. State Street Corp now owns 2,728,802 shares of the basic materials company's stock valued at $315,641,000 after purchasing an additional 27,358 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Southern Copper by 74.6% during the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company's stock valued at $162,283,000 after purchasing an additional 599,610 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Southern Copper by 3.4% in the third quarter. Geode Capital Management LLC now owns 613,286 shares of the basic materials company's stock valued at $70,437,000 after purchasing an additional 20,204 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Southern Copper Stock Performance

SCCO traded up $1.80 during trading on Monday, hitting $97.93. The stock had a trading volume of 1,496,943 shares, compared to its average volume of 1,150,630. The firm has a market cap of $77.97 billion, a PE ratio of 22.67, a P/E/G ratio of 1.90 and a beta of 1.12. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a 12 month low of $84.33 and a 12 month high of $127.34. The company has a 50 day simple moving average of $93.79 and a 200-day simple moving average of $100.63.

Southern Copper (NYSE:SCCO - Get Free Report) last posted 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%. Analysts expect that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.70 per share. This is an increase from Southern Copper's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.80 annualized dividend and a dividend yield of 2.86%. Southern Copper's payout ratio is presently 64.81%.

Analyst Ratings Changes

SCCO has been the subject of several research reports. Morgan Stanley upgraded Southern Copper from an "underweight" rating to an "equal weight" rating and reduced their price target for the company from $106.30 to $102.00 in a report on Thursday, December 12th. UBS Group raised shares of Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 target price for the company in a research report on Thursday. JPMorgan Chase & Co. upgraded shares of Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price target on the stock in a research note on Monday, December 2nd. Finally, Scotiabank upped their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a report on Monday, March 10th. Four research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $97.31.

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.