Fisher Asset Management LLC Cuts Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Fisher Asset Management LLC reduced its stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,943,480 shares of the basic materials company's stock after selling 20,092 shares during the quarter. Fisher Asset Management LLC owned 0.37% of Southern Copper worth $268,239,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV boosted its stake in shares of Southern Copper by 172.0% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company's stock worth $26,000 after acquiring an additional 141 shares in the last quarter. Deseret Mutual Benefit Administrators raised its holdings in Southern Copper by 210.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock worth $35,000 after purchasing an additional 257 shares during the period. Larson Financial Group LLC boosted its position in Southern Copper by 578.3% during the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company's stock worth $47,000 after purchasing an additional 347 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Southern Copper in the third quarter valued at approximately $47,000. Finally, Planning Capital Management Corp acquired a new stake in Southern Copper in the third quarter valued at approximately $52,000. 7.94% of the stock is owned by institutional investors and hedge funds.

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Southern Copper Price Performance

Shares of SCCO stock traded up $4.38 during trading hours on Wednesday, reaching $90.30. The company had a trading volume of 2,097,225 shares, compared to its average volume of 1,214,543. Southern Copper Co. has a 12-month low of $81.12 and a 12-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. The company has a market capitalization of $70.93 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.90 and a beta of 1.12. The stock has a fifty day moving average of $94.04 and a 200-day moving average of $101.36.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share 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 anticipate that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.10%. This is a boost from Southern Copper's previous quarterly dividend of $0.60. Southern Copper's dividend payout ratio (DPR) is presently 64.81%.

Analyst Ratings Changes

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

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.