Entropy Technologies LP acquired a new stake in Southern Copper Co. (NYSE:SCCO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 8,575 shares of the basic materials company's stock, valued at approximately $781,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Creative Financial Designs Inc. ADV grew its position in shares of Southern Copper by 172.0% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company's stock valued at $26,000 after acquiring an additional 141 shares during the period. McClarren Financial Advisors Inc. boosted its holdings in shares of Southern Copper by 169.2% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company's stock worth $33,000 after buying an additional 181 shares during the period. Oakworth Capital Inc. bought a new stake in shares of Southern Copper during the 3rd quarter worth about $42,000. Prospera Private Wealth LLC bought a new stake in shares of Southern Copper during the 3rd quarter worth about $47,000. Finally, Larson Financial Group LLC boosted its holdings 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 worth $47,000 after buying an additional 347 shares during the period. Institutional investors own 7.94% of the company's stock.
Analyst Ratings Changes
Several analysts recently commented on SCCO shares. JPMorgan Chase & Co. raised shares of Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 target price for the company in a report 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 report on Thursday, December 12th. Four 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $94.81.
Read Our Latest Research Report on Southern Copper
Southern Copper Stock Performance
Southern Copper stock traded down $0.43 during midday trading on Friday, hitting $97.41. The company's stock had a trading volume of 1,946,863 shares, compared to its average volume of 1,148,754. Southern Copper Co. has a 1-year low of $78.82 and a 1-year high of $129.79. 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 50-day moving average price of $95.24 and a two-hundred day moving average price of $102.05. The company has a market cap of $76.52 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 1.85 and a beta of 1.13.
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 27.67% and a return on equity of 37.11%. As a group, sell-side analysts predict that Southern Copper Co. will post 4.38 earnings per share for the current year.
Southern Copper Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th will be given a $0.70 dividend. The ex-dividend date of this dividend is 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 2.87%. Southern Copper's payout ratio is presently 72.09%.
About Southern Copper
(
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.
Read More
Before you consider Southern Copper, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Southern Copper wasn't on the list.
While Southern Copper currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
