Price T Rowe Associates Inc. MD Purchases 15,037 Shares of Southern Copper Co. (NYSE:SCCO)

Price T Rowe Associates Inc. MD raised its stake in Southern Copper Co. (NYSE:SCCO - Free Report) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,700,844 shares of the basic materials company's stock after acquiring an additional 15,037 shares during the period. Price T Rowe Associates Inc. MD owned about 0.47% of Southern Copper worth $337,260,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Morse Asset Management Inc bought a new stake in shares of Southern Copper in the 3rd quarter worth about $1,397,000. Tidal Investments LLC grew its stake in Southern Copper by 30.8% during the third quarter. Tidal Investments LLC now owns 71,376 shares of the basic materials company's stock worth $8,256,000 after buying an additional 16,805 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Southern Copper by 27.7% during the third quarter. Franklin Resources Inc. now owns 108,633 shares of the basic materials company's stock worth $12,772,000 after buying an additional 23,539 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Southern Copper by 33.7% in the third quarter. Principal Financial Group Inc. now owns 9,693 shares of the basic materials company's stock valued at $1,121,000 after acquiring an additional 2,442 shares during the last quarter. Finally, Independent Solutions Wealth Management LLC boosted its holdings in shares of Southern Copper by 2.1% in the 3rd quarter. Independent Solutions Wealth Management LLC now owns 22,767 shares of the basic materials company's stock worth $2,633,000 after acquiring an additional 474 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Trading Down 1.0 %

SCCO stock traded down $0.93 during midday trading on Tuesday, reaching $92.89. The company's stock had a trading volume of 1,178,320 shares, compared to its average volume of 1,215,463. The business's 50-day simple moving average is $90.67 and its 200-day simple moving average is $96.94. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a 52 week low of $74.84 and a 52 week high of $127.34. The stock has a market cap of $73.96 billion, a PE ratio of 21.50, 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 quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.14. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.05 billion. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. As a group, sell-side analysts expect that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Dividend Announcement

The company also recently announced a dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be issued a $0.70 dividend. The ex-dividend date is Friday, May 2nd. This represents a yield of 2.98%. Southern Copper's dividend payout ratio (DPR) is presently 61.27%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SCCO. Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. UBS Group dropped 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 note on Tuesday, April 15th. StockNews.com cut shares of Southern Copper from a "buy" rating to a "hold" rating in a research note on Monday. JPMorgan Chase & Co. dropped their price objective on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Scotiabank increased their price objective on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research report on Monday, March 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $91.50.

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.