Charles Schwab Investment Management Inc. boosted its position in Southern Copper Co. (NYSE:SCCO - Free Report) by 2.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,437 shares of the basic materials company's stock after buying an additional 4,889 shares during the period. Charles Schwab Investment Management Inc.'s holdings in Southern Copper were worth $21,638,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in Southern Copper by 33.7% during the 3rd quarter. Principal Financial Group Inc. now owns 9,693 shares of the basic materials company's stock valued at $1,121,000 after purchasing an additional 2,442 shares during the last quarter. Metis Global Partners LLC boosted its stake in Southern Copper by 41.8% during the 3rd quarter. Metis Global Partners LLC now owns 4,654 shares of the basic materials company's stock valued at $538,000 after purchasing an additional 1,373 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Southern Copper by 4.0% during the 3rd quarter. CIBC Asset Management Inc now owns 24,503 shares of the basic materials company's stock valued at $2,834,000 after purchasing an additional 935 shares during the last quarter. Empowered Funds LLC acquired a new position in Southern Copper during the 3rd quarter valued at about $456,000. Finally, Quest Partners LLC boosted its stake in Southern Copper by 51.8% during the 3rd quarter. Quest Partners LLC now owns 6,228 shares of the basic materials company's stock valued at $720,000 after purchasing an additional 2,126 shares during the last quarter. 7.94% of the stock is owned by institutional investors.
Southern Copper Stock Performance
Southern Copper stock traded up $1.76 during trading on Friday, hitting $100.98. The stock had a trading volume of 5,118,842 shares, compared to its average volume of 1,157,701. Southern Copper Co. has a 1 year low of $84.33 and a 1 year high of $127.34. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The stock's 50 day moving average is $94.27 and its two-hundred day moving average is $100.57. The stock has a market cap of $80.39 billion, a price-to-earnings ratio of 23.37, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12.
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 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, analysts predict that Southern Copper Co. will post 4.66 EPS for the current year.
Southern Copper Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were paid a $0.70 dividend. 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 yield of 2.77%. Southern Copper's dividend payout ratio is presently 64.81%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on SCCO shares. Scotiabank lifted their price target on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research note on Monday, March 10th. Morgan Stanley upgraded Southern Copper from an "underweight" rating to an "equal weight" rating and cut their price target for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. UBS Group upgraded Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 target price on the stock in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. upgraded 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. Four research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $97.31.
Check Out Our Latest Stock Report on Southern Copper
Southern Copper Company Profile
(
Free Report)
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.
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