Axiom Investors LLC DE Invests $14.62 Million in Southern Copper Co. (NYSE:SCCO)

Axiom Investors LLC DE acquired a new stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 160,396 shares of the basic materials company's stock, valued at approximately $14,617,000.

A number of other hedge funds have also bought and sold shares of the stock. Cerity Partners LLC raised its holdings in shares of Southern Copper by 30.9% during the third quarter. Cerity Partners LLC now owns 13,516 shares of the basic materials company's stock worth $1,563,000 after purchasing an additional 3,193 shares during the last quarter. Townsquare Capital LLC lifted its holdings in Southern Copper by 48.7% in the 3rd quarter. Townsquare Capital LLC now owns 8,687 shares of the basic materials company's stock valued at $1,005,000 after purchasing an additional 2,845 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in Southern Copper by 3.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 6,734 shares of the basic materials company's stock worth $779,000 after purchasing an additional 196 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Southern Copper during the third quarter worth $924,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Southern Copper by 0.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,376 shares of the basic materials company's stock valued at $6,637,000 after buying an additional 319 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Remove Ads

Analysts Set New Price Targets

A number of analysts have commented on the stock. Morgan Stanley upgraded shares of Southern Copper from an "underweight" rating to an "equal weight" rating and cut their price objective for the company from $106.30 to $102.00 in a report on Thursday, December 12th. UBS Group upgraded shares of Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 price target for the company in a research report on Thursday, March 13th. Finally, Scotiabank increased 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 investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $94.42.

Southern Copper Stock Down 7.9 %

SCCO traded down $6.87 on Friday, reaching $79.87. The company's stock had a trading volume of 1,219,840 shares, compared to its average volume of 1,194,806. The company has a market capitalization of $63.59 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 1.90 and a beta of 1.04. 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 Co. has a fifty-two week low of $77.44 and a fifty-two week high of $127.34. The stock has a 50 day moving average of $93.97 and a two-hundred day moving average of $100.51.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly 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 net margin of 29.53% and a return on equity of 40.27%. As a group, analysts forecast that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were paid 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 was Tuesday, February 11th. This represents a $2.80 annualized dividend and a dividend yield of 3.51%. Southern Copper's dividend payout ratio is 64.81%.

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.