Mariner LLC Purchases 3,151 Shares of Southern Copper Co. (NYSE:SCCO)

Mariner LLC raised its position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 8.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,210 shares of the basic materials company's stock after purchasing an additional 3,151 shares during the quarter. Mariner LLC's holdings in Southern Copper were worth $3,847,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in Southern Copper by 74.6% during the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company's stock valued at $162,283,000 after purchasing an additional 599,610 shares in the last quarter. Norges Bank purchased a new position in shares of Southern Copper during the 4th quarter valued at $52,738,000. Renaissance Technologies LLC increased its stake in shares of Southern Copper by 1,417.7% in the fourth quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company's stock worth $37,173,000 after acquiring an additional 381,035 shares during the last quarter. Distillate Capital Partners LLC purchased a new stake in shares of Southern Copper during the fourth quarter worth $19,785,000. Finally, Wealthfront Advisers LLC acquired a new stake in Southern Copper during the fourth quarter valued at $15,197,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research note on Monday, April 14th. 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 report on Monday, March 10th. Finally, UBS Group decreased their target price on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $91.50.

Southern Copper Stock Performance

Shares of Southern Copper stock traded up $3.19 on Wednesday, reaching $92.30. The stock had a trading volume of 1,578,354 shares, compared to its average volume of 1,220,858. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The business's 50-day moving average price is $90.82 and its two-hundred day moving average price is $97.64. The stock has a market cap of $73.49 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. Southern Copper Co. has a fifty-two week low of $74.84 and a fifty-two week high of $127.34.

Southern Copper (NYSE:SCCO - Get Free Report) last released its earnings results 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 return on equity of 40.27% and a net margin of 29.53%. On average, sell-side analysts forecast that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were paid a $0.70 dividend. 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. This represents a $2.80 annualized dividend and a dividend yield of 3.03%. Southern Copper's dividend payout ratio (DPR) is presently 64.81%.

About Southern Copper

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.