one8zero8 LLC Makes New Investment in Southern Copper Co. (NYSE:SCCO)

one8zero8 LLC bought a new position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,485 shares of the basic materials company's stock, valued at approximately $318,000.

Several other large investors have also added to or reduced their stakes in SCCO. JPMorgan Chase & Co. grew its stake 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 worth $162,283,000 after purchasing an additional 599,610 shares during the period. Itau Unibanco Holding S.A. boosted its holdings in Southern Copper by 115,910.7% in the third quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company's stock worth $38,915,000 after acquiring an additional 336,141 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Southern Copper by 10.6% in the third quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company's stock worth $342,796,000 after acquiring an additional 283,562 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Southern Copper by 1,601.3% in the third quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company's stock worth $22,275,000 after acquiring an additional 181,252 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new position in Southern Copper in the fourth quarter worth approximately $15,197,000. Institutional investors and hedge funds own 7.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SCCO shares. Scotiabank increased their price target on Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a report on Monday, March 10th. Morgan Stanley upgraded Southern Copper from an "underweight" rating to an "equal weight" rating and cut their price target for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. 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 report on Thursday, March 13th. Finally, JPMorgan Chase & Co. upgraded Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price target on the stock in a report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Southern Copper currently has a consensus rating of "Hold" and an average target price of $97.31.

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Southern Copper Stock Down 0.3 %

Shares of SCCO stock traded down $0.26 during trading hours on Thursday, reaching $99.28. The company had a trading volume of 1,199,039 shares, compared to its average volume of 1,142,974. Southern Copper Co. has a 12 month low of $84.33 and a 12 month high of $127.34. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The business has a fifty day simple moving average of $94.06 and a 200-day simple moving average of $100.58. The company has a market cap of $79.05 billion, a price-to-earnings ratio of 22.98, 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 quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 EPS 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, research analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current fiscal 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 dividend of $0.70 per share. This is a positive change from Southern Copper's previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Tuesday, February 11th. Southern Copper's dividend payout ratio (DPR) is 64.81%.

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.