National Bank of Canada FI Purchases 45,130 Shares of Southern Copper Co. (NYSE:SCCO)

National Bank of Canada FI raised its position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 10,593.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,556 shares of the basic materials company's stock after buying an additional 45,130 shares during the quarter. National Bank of Canada FI's holdings in Southern Copper were worth $4,152,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. acquired a new position in Southern Copper during the fourth quarter valued at $30,000. Deseret Mutual Benefit Administrators increased its holdings in shares of Southern Copper by 210.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 257 shares during the period. IFP Advisors Inc lifted its position in shares of Southern Copper by 143.4% in the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock worth $43,000 after purchasing an additional 281 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of Southern Copper during the fourth quarter worth approximately $47,000. Finally, Larson Financial Group LLC grew its position in Southern Copper by 28.0% during 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 in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

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Southern Copper Stock Up 3.3 %

Shares of Southern Copper stock traded up $2.67 during midday trading on Friday, reaching $84.51. 1,845,591 shares of the company's stock traded hands, compared to its average volume of 1,222,861. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a 52 week low of $74.84 and a 52 week high of $127.34. The company's 50 day simple moving average is $92.05 and its 200 day simple moving average is $99.15. The company has a market cap of $67.28 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. Equities analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were issued a $0.70 dividend. This is a positive change from Southern Copper's previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 3.31%. The ex-dividend date was Tuesday, February 11th. Southern Copper's payout ratio is 64.81%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. 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 note on Monday, March 10th. UBS Group raised Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 price objective for the company in a research report on Thursday, March 13th. Three equities research 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. According to MarketBeat, Southern Copper has an average rating of "Hold" and an average price target of $94.42.

Southern Copper 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.