Proficio Capital Partners LLC Invests $84,000 in Southern Copper Co. (NYSE:SCCO)

Proficio Capital Partners LLC purchased a new stake in Southern Copper Co. (NYSE:SCCO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 84,337 shares of the basic materials company's stock, valued at approximately $84,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. abrdn plc raised its holdings in Southern Copper by 4.4% in the 4th quarter. abrdn plc now owns 2,849,638 shares of the basic materials company's stock valued at $260,428,000 after buying an additional 118,909 shares during the period. State Street Corp raised its stake in shares of Southern Copper by 1.0% in the 3rd quarter. State Street Corp now owns 2,728,802 shares of the basic materials company's stock valued at $315,641,000 after acquiring an additional 27,358 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Southern Copper by 74.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company's stock valued at $162,283,000 after acquiring an additional 599,610 shares during the period. Geode Capital Management LLC boosted its position in shares of Southern Copper by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 613,286 shares of the basic materials company's stock worth $70,437,000 after purchasing an additional 20,204 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Southern Copper by 1.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 451,421 shares of the basic materials company's stock worth $41,603,000 after purchasing an additional 6,023 shares during the period. Institutional investors and hedge funds own 7.94% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms have commented on SCCO. Scotiabank upped their price target on Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a research note on Monday, March 10th. UBS Group upgraded Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 target price for the company in a report on Thursday, March 13th. Finally, Morgan Stanley upgraded shares of 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 research note on Thursday, December 12th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $94.42.

Southern Copper Stock Up 0.6 %

NYSE SCCO traded up $0.53 during trading hours on Wednesday, hitting $94.41. 894,851 shares of the company were exchanged, compared to its average volume of 1,192,718. 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 firm has a market cap of $75.17 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 1.90 and a beta of 1.12. The company has a 50 day moving average of $94.18 and a two-hundred day moving average of $100.61. Southern Copper Co. has a 52-week low of $84.33 and a 52-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%. Equities research analysts anticipate that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.70 per share. This is a boost from Southern Copper's previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Tuesday, February 11th. Southern Copper's payout ratio 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.