Inceptionr LLC increased its stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 150.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,970 shares of the basic materials company's stock after buying an additional 8,390 shares during the quarter. Inceptionr LLC's holdings in Southern Copper were worth $1,273,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Creative Financial Designs Inc. ADV raised its position in 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 purchasing an additional 141 shares during the last quarter. Deseret Mutual Benefit Administrators grew its stake in shares of Southern Copper by 210.7% during the fourth 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. IFP Advisors Inc grew its stake in shares of Southern Copper by 143.4% during the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock worth $43,000 after purchasing an additional 281 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Southern Copper during the third quarter worth $47,000. Finally, Larson Financial Group LLC grew its stake in Southern Copper by 578.3% in the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company's stock valued at $47,000 after acquiring an additional 347 shares during the period. Institutional investors own 7.94% of the company's stock.
Analysts Set New Price Targets
A number of research firms have issued reports on SCCO. Morgan Stanley raised Southern Copper from an "underweight" rating to an "equal weight" rating and decreased their target price for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. raised Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 target price for the company in a research note on Monday, December 2nd. Four analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $94.81.
Read Our Latest Stock Report on SCCO
Southern Copper Stock Up 0.2 %
Shares of Southern Copper stock traded up $0.20 during trading on Friday, reaching $91.02. The stock had a trading volume of 2,167,481 shares, compared to its average volume of 1,235,972. The company has a market capitalization of $71.50 billion, a price-to-earnings ratio of 21.07, a P/E/G ratio of 1.90 and a beta of 1.12. The stock has a fifty day moving average price of $93.83 and a two-hundred day moving average price of $101.10. Southern Copper Co. has a 52 week low of $84.33 and a 52 week high of $129.79. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64.
Southern Copper (NYSE:SCCO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 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 EPS for the current fiscal year.
Southern Copper Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.08%. 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. Southern Copper's dividend payout ratio is presently 64.81%.
Southern Copper Profile
(
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
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
