Madison Investment Advisors LLC purchased a new position in Southern Copper Co. (NYSE:SCCO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,061 shares of the basic materials company's stock, valued at approximately $1,919,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. M&T Bank Corp grew its position in Southern Copper by 0.5% during the 3rd quarter. M&T Bank Corp now owns 20,460 shares of the basic materials company's stock valued at $2,367,000 after purchasing an additional 105 shares during the last quarter. Larson Financial Group LLC lifted its position in Southern Copper by 28.0% in the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock valued at $48,000 after acquiring an additional 114 shares in the last quarter. Tyche Wealth Partners LLC boosted its stake in Southern Copper by 0.6% during the 4th quarter. Tyche Wealth Partners LLC now owns 19,807 shares of the basic materials company's stock valued at $1,805,000 after purchasing an additional 122 shares during the last quarter. Yousif Capital Management LLC increased its holdings in shares of Southern Copper by 0.9% in the 4th quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company's stock worth $1,311,000 after purchasing an additional 122 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its holdings in shares of Southern Copper by 3.6% during the fourth quarter. 180 Wealth Advisors LLC now owns 4,062 shares of the basic materials company's stock valued at $370,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 7.94% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have issued reports on SCCO. Scotiabank upped 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 note on Monday, March 10th. Morgan Stanley upgraded shares of Southern Copper from an "underweight" rating to an "equal weight" rating and dropped their target price for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. upgraded shares of 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. Finally, UBS Group upgraded Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 price target on the stock in a research note on Thursday, March 13th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $94.42.
View Our Latest Research Report on SCCO
Southern Copper Stock Performance
Shares of NYSE:SCCO traded down $3.79 during midday trading on Wednesday, hitting $97.69. The company had a trading volume of 1,939,706 shares, compared to its average volume of 1,166,669. Southern Copper Co. has a 12-month low of $84.33 and a 12-month high of $127.34. The company has a fifty day moving average of $94.48 and a two-hundred day moving average of $100.70. The company has a market cap of $77.78 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 1.90 and a beta of 1.12. 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 (NYSE:SCCO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. On average, equities research analysts expect that Southern Copper Co. will post 4.66 EPS for the current fiscal year.
Southern Copper Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.80 annualized dividend and a yield of 2.87%. This is an increase from Southern Copper's previous quarterly dividend of $0.60. Southern Copper's payout ratio is currently 64.81%.
Southern Copper Profile
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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.
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