LPL Financial LLC Increases Stock Position in Southern Copper Co. (NYSE:SCCO)

LPL Financial LLC grew its stake in Southern Copper Co. (NYSE:SCCO - Free Report) by 7.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 135,849 shares of the basic materials company's stock after acquiring an additional 9,966 shares during the quarter. LPL Financial LLC's holdings in Southern Copper were worth $12,380,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SCCO. Nordea Investment Management AB lifted its holdings in Southern Copper by 15.3% in 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 acquiring an additional 14,391 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of Southern Copper by 384.4% in the 3rd quarter. Two Sigma Advisers LP now owns 90,173 shares of the basic materials company's stock valued at $10,430,000 after purchasing an additional 71,558 shares during the last quarter. JPMorgan Chase & Co. grew its holdings 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 period. Robeco Institutional Asset Management B.V. raised its holdings in Southern Copper by 22.2% in the 4th 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 buying an additional 24,933 shares during the period. Finally, Morse Asset Management Inc acquired a new position in Southern Copper in the third quarter valued at about $1,397,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

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Southern Copper Stock Up 1.3 %

NYSE:SCCO traded up $1.02 during mid-day trading on Monday, hitting $79.41. The stock had a trading volume of 3,065,944 shares, compared to its average volume of 1,208,826. Southern Copper Co. has a twelve month low of $74.92 and a twelve month high of $127.34. The stock has a 50-day simple moving average of $93.32 and a two-hundred day simple moving average of $100.19. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $63.22 billion, a PE ratio of 18.38, a PEG ratio of 1.90 and a beta of 1.04.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share 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%. On average, equities research analysts anticipate that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.53%. This is an increase from Southern Copper's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, February 11th. Southern Copper's dividend payout ratio is 64.81%.

Analyst Ratings Changes

SCCO has been the subject of several research reports. UBS Group upgraded shares of Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 target price for the company in a report on Thursday, March 13th. Scotiabank raised their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research note on Monday, March 10th. Finally, Morgan Stanley upgraded shares of Southern Copper from an "underweight" rating to an "equal weight" rating and dropped their price objective for the company from $106.30 to $102.00 in a report on Thursday, December 12th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently 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.