31,301 Shares in Southern Copper Co. (NYSE:SCCO) Bought by Boussard & Gavaudan Investment Management LLP

Boussard & Gavaudan Investment Management LLP bought a new stake in Southern Copper Co. (NYSE:SCCO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 31,301 shares of the basic materials company's stock, valued at approximately $2,862,000.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in Southern Copper by 74.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company's stock worth $162,283,000 after buying an additional 599,610 shares during the period. Norges Bank bought a new stake in shares of Southern Copper in the fourth quarter worth about $52,738,000. Itau Unibanco Holding S.A. raised its position in shares of Southern Copper by 115,910.7% during the third 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. 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 worth $22,275,000 after purchasing an additional 181,252 shares during the period. Finally, Wealthfront Advisers LLC bought a new position in shares of Southern Copper during the 4th quarter valued at about $15,197,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Performance

Shares of Southern Copper stock traded down $0.02 during trading on Tuesday, hitting $93.45. 281,207 shares of the stock were exchanged, compared to its average volume of 1,371,620. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The company has a fifty day moving average price of $94.32 and a 200-day moving average price of $100.69. The stock has a market capitalization of $74.40 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12. 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 results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) 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%. As a group, equities analysts predict 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 issued a dividend of $0.70 per share. The ex-dividend date was Tuesday, February 11th. This is a boost from Southern Copper's previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a dividend yield of 3.00%. Southern Copper's dividend payout ratio (DPR) is currently 64.81%.

Analysts Set New Price Targets

Several analysts have commented on SCCO shares. Scotiabank raised their target price 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. Morgan Stanley raised 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 research report on Thursday, December 12th. UBS Group upgraded Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 target price for the company in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. upgraded Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price target on the stock in a report on Monday, December 2nd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $94.42.

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.