Barings LLC Trims Holdings in Southern Copper Co. (NYSE:SCCO)

Barings LLC reduced its holdings in Southern Copper Co. (NYSE:SCCO - Free Report) by 60.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,064 shares of the basic materials company's stock after selling 33,387 shares during the period. Barings LLC's holdings in Southern Copper were worth $2,011,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Deseret Mutual Benefit Administrators lifted its stake in shares of Southern Copper by 210.7% in the fourth 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 in the last quarter. Larson Financial Group LLC raised its stake in Southern Copper by 578.3% during the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company's stock worth $47,000 after purchasing an additional 347 shares during the period. Prospera Private Wealth LLC purchased a new position in Southern Copper during the third quarter worth about $47,000. Planning Capital Management Corp purchased a new position in Southern Copper during the third quarter worth about $52,000. Finally, IFP Advisors Inc raised its stake in 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 purchasing an additional 281 shares during the period. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Stock Up 0.2 %

Shares of SCCO stock traded up $0.20 during trading on Friday, reaching $91.02. The company's stock had a trading volume of 2,167,481 shares, compared to its average volume of 1,235,972. 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 $71.50 billion, a price-to-earnings ratio of 21.07, a P/E/G ratio of 1.90 and a beta of 1.12. The stock's 50-day moving average price is $93.83 and its 200 day moving average price is $101.07. Southern Copper Co. has a 1-year low of $84.33 and a 1-year high of $129.79.

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Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings data 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%. On average, research analysts anticipate that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were issued a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.08%. This is a boost from Southern Copper's previous quarterly dividend of $0.60. Southern Copper's payout ratio is 64.81%.

Analyst Ratings Changes

SCCO has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised shares of Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 target price on the stock in a research note on Monday, December 2nd. Morgan Stanley raised shares of Southern Copper from an "underweight" rating to an "equal weight" rating and reduced their target price for the stock from $106.30 to $102.00 in a research note on Thursday, December 12th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $94.81.

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.