APG Asset Management N.V. Sells 26,467 Shares of Southern Copper Co. (NYSE:SCCO)

APG Asset Management N.V. cut its stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 19.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,413 shares of the basic materials company's stock after selling 26,467 shares during the period. APG Asset Management N.V.'s holdings in Southern Copper were worth $9,453,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SCCO. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Southern Copper during the 4th quarter worth about $30,000. Deseret Mutual Benefit Administrators lifted its stake in shares of Southern Copper by 210.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock worth $35,000 after buying an additional 257 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Southern Copper by 143.4% during the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock worth $43,000 after acquiring an additional 281 shares during the period. Spire Wealth Management bought a new position in shares of Southern Copper during the fourth quarter worth approximately $47,000. Finally, Larson Financial Group LLC boosted its holdings in Southern Copper by 28.0% in the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock valued at $48,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 7.94% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SCCO shares. UBS Group dropped their price target on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday. JPMorgan Chase & Co. cut their target price on Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research report on Monday. 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 research report on Monday, March 10th. Three 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, Southern Copper has a consensus rating of "Hold" and a consensus target price of $89.58.

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Southern Copper Price Performance

NYSE:SCCO traded down $0.82 during trading hours on Tuesday, hitting $86.85. The company's stock had a trading volume of 828,605 shares, compared to its average volume of 1,225,183. 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 company has a market capitalization of $69.15 billion, a P/E ratio of 20.10, a PEG ratio of 1.90 and a beta of 1.04. Southern Copper Co. has a twelve month low of $74.84 and a twelve month high of $127.34. The stock has a fifty day simple moving average of $91.94 and a 200-day simple moving average of $98.79.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share 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%. On average, analysts anticipate that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.70 per share. This is a positive change 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 yield of 3.22%. Southern Copper's dividend payout ratio (DPR) is presently 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.