Southern Copper Co. (NYSE:SCCO) Stock Position Raised by Edgestream Partners L.P.

Edgestream Partners L.P. raised its stake in Southern Copper Co. (NYSE:SCCO - Free Report) by 130.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 90,020 shares of the basic materials company's stock after purchasing an additional 50,882 shares during the period. Edgestream Partners L.P.'s holdings in Southern Copper were worth $8,204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Deseret Mutual Benefit Administrators grew its position in shares of Southern Copper by 210.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock valued at $35,000 after buying an additional 257 shares during the last quarter. IFP Advisors Inc grew its position in shares of Southern Copper by 143.4% during the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock valued at $43,000 after buying an additional 281 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Southern Copper during the 3rd quarter valued at about $47,000. Larson Financial Group LLC grew its position in shares of Southern Copper by 578.3% during the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company's stock valued at $47,000 after buying an additional 347 shares during the last quarter. Finally, Spire Wealth Management bought a new stake in shares of Southern Copper during the 4th quarter valued at about $47,000. Institutional investors own 7.94% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SCCO shares. JPMorgan Chase & Co. raised shares of Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price objective for the company in a research report on Monday, December 2nd. Morgan Stanley upgraded shares of Southern Copper from an "underweight" rating to an "equal weight" rating and decreased their target price for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $94.81.

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Southern Copper Price Performance

Shares of NYSE:SCCO traded up $0.20 during trading on Friday, reaching $91.02. The company had a trading volume of 2,167,481 shares, compared to its average volume of 1,235,972. The firm's fifty day moving average is $93.83 and its 200 day moving average is $101.10. The firm has a market capitalization of $71.50 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a twelve month low of $84.33 and a twelve month high of $129.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77.

Southern Copper (NYSE:SCCO - Get Free Report) last issued 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 return on equity of 40.27% and a net margin of 29.53%. On average, equities analysts forecast that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

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

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.