Magnetar Financial LLC purchased a new stake in Southern Copper Co. (NYSE:SCCO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,437 shares of the basic materials company's stock, valued at approximately $313,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. M&T Bank Corp raised its holdings in Southern Copper by 0.5% in the third quarter. M&T Bank Corp now owns 20,460 shares of the basic materials company's stock worth $2,367,000 after purchasing an additional 105 shares during the period. Larson Financial Group LLC grew its position in shares of Southern Copper by 28.0% in the fourth quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock valued at $48,000 after purchasing an additional 114 shares during the last quarter. Cadence Wealth Management LLC boosted its stake in shares of Southern Copper by 4.1% in the fourth quarter. Cadence Wealth Management LLC now owns 2,919 shares of the basic materials company's stock valued at $266,000 after buying an additional 116 shares during the period. Tyche Wealth Partners LLC raised its position in shares of Southern Copper by 0.6% in 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 buying an additional 122 shares in the last quarter. Finally, Yousif Capital Management LLC grew its position in Southern Copper by 0.9% in the fourth quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company's stock valued at $1,311,000 after acquiring an additional 122 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.
Southern Copper Stock Performance
Southern Copper stock traded down $0.80 during trading on Thursday, hitting $96.90. The stock had a trading volume of 1,330,386 shares, compared to its average volume of 1,168,863. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The stock's 50 day moving average is $94.50 and its two-hundred day moving average is $100.68. Southern Copper Co. has a 1 year low of $84.33 and a 1 year high of $127.34. The stock has a market cap of $77.15 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12.
Southern Copper (NYSE:SCCO - Get Free Report) last issued 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%. As a group, analysts predict that Southern Copper Co. will post 4.66 EPS for the current year.
Southern Copper Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were paid 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 2.89%. This is a boost from Southern Copper's previous quarterly dividend of $0.60. Southern Copper's payout ratio is currently 64.81%.
Analyst Upgrades and Downgrades
SCCO has been the subject of several recent research reports. UBS Group upgraded shares of Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 price target for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. upgraded shares of Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 target price on the stock in a research report on Monday, December 2nd. Morgan Stanley upgraded shares of Southern Copper from an "underweight" rating to an "equal weight" rating and decreased their price target for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. Finally, Scotiabank lifted their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a report on Monday, March 10th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $94.42.
Check Out Our Latest Stock Report on Southern Copper
About Southern Copper
(
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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