Distillate Capital Partners LLC Takes $19.79 Million Position in Southern Copper Co. (NYSE:SCCO)

Distillate Capital Partners LLC purchased a new stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 217,106 shares of the basic materials company's stock, valued at approximately $19,785,000.

A number of other hedge funds also recently modified their holdings of SCCO. JPMorgan Chase & Co. raised its position 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 purchasing an additional 599,610 shares during the last quarter. Norges Bank bought a new position in shares of Southern Copper during the fourth quarter worth about $52,738,000. Renaissance Technologies LLC lifted its stake in shares of Southern Copper by 1,417.7% in the fourth quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company's stock worth $37,173,000 after acquiring an additional 381,035 shares during the period. Wealthfront Advisers LLC bought a new stake in Southern Copper in the fourth quarter valued at approximately $15,197,000. Finally, Axiom Investors LLC DE acquired a new stake in Southern Copper during the 4th quarter valued at approximately $14,617,000. Institutional investors and hedge funds own 7.94% of the company's stock.

Southern Copper Stock Down 0.9 %

NYSE:SCCO traded down $0.82 during trading hours on Tuesday, reaching $86.85. The company had a trading volume of 1,256,692 shares, compared to its average volume of 1,225,117. Southern Copper Co. has a twelve month low of $74.84 and a twelve month 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 firm has a market cap of $69.15 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 1.90 and a beta of 1.04. The business's 50-day simple moving average is $91.78 and its two-hundred day simple moving average is $98.70.

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Southern Copper (NYSE:SCCO - Get Free Report) last issued its earnings results 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%. On average, equities analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The company also recently disclosed 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. This is an increase 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 dividend yield of 3.22%. Southern Copper's payout ratio is currently 64.81%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SCCO. UBS Group dropped their price target on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Tuesday. Scotiabank boosted their target price on shares of Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. decreased their price target on Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a report on Monday. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $89.58.

Southern Copper 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.