Geode Capital Management LLC Raises Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Geode Capital Management LLC lifted its position in Southern Copper Co. (NYSE:SCCO - Free Report) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 641,765 shares of the basic materials company's stock after purchasing an additional 28,479 shares during the period. Geode Capital Management LLC owned 0.08% of Southern Copper worth $58,180,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB increased its holdings in Southern Copper by 15.3% during the fourth quarter. Nordea Investment Management AB now owns 108,753 shares of the basic materials company's stock valued at $9,969,000 after buying an additional 14,391 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of 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. Robeco Institutional Asset Management B.V. boosted its position in Southern Copper by 22.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 137,019 shares of the basic materials company's stock valued at $12,487,000 after purchasing an additional 24,933 shares in the last quarter. Morse Asset Management Inc purchased a new position in Southern Copper in the third quarter valued at about $1,397,000. Finally, Raymond James Financial Inc. bought a new position in Southern Copper in the fourth quarter worth about $8,420,000. Institutional investors own 7.94% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. UBS Group cut their price objective 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 increased their price objective on 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. reduced their target price on Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a research report on Monday. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $89.58.

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Southern Copper Stock Performance

NYSE SCCO traded down $0.82 during trading hours on Tuesday, reaching $86.85. The stock had a trading volume of 1,256,692 shares, compared to its average volume of 1,225,115. Southern Copper Co. has a 52-week low of $74.84 and a 52-week high of $127.34. 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 stock has a market cap of $69.15 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. The stock has a fifty day moving average of $91.78 and a 200 day moving average of $98.70.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.01). Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. Sell-side analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were issued a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase from Southern Copper's previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 3.22%. Southern Copper's payout ratio is presently 64.81%.

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.