JPMorgan Chase & Co. Reduces Holdings in Southern Copper Co. (NYSE:SCCO)

JPMorgan Chase & Co. reduced its stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 12.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,228,943 shares of the basic materials company's stock after selling 174,040 shares during the quarter. JPMorgan Chase & Co. owned 0.16% of Southern Copper worth $111,994,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Glenmede Trust Co. NA raised its position in shares of Southern Copper by 3.0% in the third quarter. Glenmede Trust Co. NA now owns 6,734 shares of the basic materials company's stock worth $779,000 after acquiring an additional 196 shares during the period. Erste Asset Management GmbH acquired a new position in Southern Copper in the 3rd quarter worth about $459,000. Benjamin Edwards Inc. raised its holdings in Southern Copper by 2,816.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 5,103 shares of the basic materials company's stock worth $590,000 after purchasing an additional 4,928 shares during the period. Integrated Wealth Concepts LLC boosted its position in Southern Copper by 2.9% during the third quarter. Integrated Wealth Concepts LLC now owns 8,797 shares of the basic materials company's stock worth $1,018,000 after purchasing an additional 250 shares in the last quarter. Finally, Morse Asset Management Inc acquired a new stake in Southern Copper in the third quarter valued at approximately $1,397,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Price Performance

SCCO traded up $1.02 on Monday, reaching $79.41. 3,065,944 shares of the company's stock were exchanged, compared to its average volume of 1,208,827. The stock has a market cap of $63.22 billion, a PE ratio of 18.38, a P/E/G ratio of 1.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. Southern Copper Co. has a twelve month low of $75.06 and a twelve month high of $127.34. The stock's fifty day moving average price is $93.32 and its 200-day moving average price is $100.19.

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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 (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 expect that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were paid a $0.70 dividend. The ex-dividend date 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 dividend yield of 3.53%. Southern Copper's dividend payout ratio (DPR) is 64.81%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SCCO shares. UBS Group upgraded Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 target price on the stock in a research report on Thursday, March 13th. Scotiabank lifted their target price on shares of Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research report on Monday, March 10th. Finally, Morgan Stanley raised shares of Southern Copper from an "underweight" rating to an "equal weight" rating and cut their target price for the stock from $106.30 to $102.00 in a research note on Thursday, December 12th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $94.42.

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.