Qtron Investments LLC bought a new stake in Southern Copper Co. (NYSE:SCCO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 3,208 shares of the basic materials company's stock, valued at approximately $292,000.
Several other institutional investors and hedge funds have also modified their holdings of SCCO. Nordea Investment Management AB boosted its position in Southern Copper by 15.3% during the fourth quarter. Nordea Investment Management AB now owns 108,753 shares of the basic materials company's stock valued at $9,969,000 after acquiring an additional 14,391 shares during the last quarter. JPMorgan Chase & Co. grew its position in 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 purchasing an additional 599,610 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in Southern Copper by 22.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 137,019 shares of the basic materials company's stock worth $12,487,000 after buying an additional 24,933 shares during the last quarter. Morse Asset Management Inc bought a new position in shares of Southern Copper in the third quarter valued at $1,397,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Southern Copper during the fourth quarter valued at about $8,420,000. 7.94% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
SCCO has been the topic of a number of analyst reports. UBS Group lowered their target price on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Tuesday. Scotiabank lifted their target price 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. Finally, JPMorgan Chase & Co. lowered their price target on Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research report on Monday. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Southern Copper has a consensus rating of "Hold" and an average price target of $89.58.
Get Our Latest Stock Report on Southern Copper
Southern Copper Stock Performance
NYSE:SCCO traded up $0.28 during trading on Friday, reaching $86.47. The company's stock had a trading volume of 1,058,290 shares, compared to its average volume of 1,223,458. The firm has a market cap of $68.84 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. Southern Copper Co. has a 12 month low of $74.84 and a 12 month high of $127.34. 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 firm has a 50 day moving average of $91.36 and a 200-day moving average of $98.42.
Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly 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%. Research analysts expect that Southern Copper Co. will post 4.66 EPS for the current fiscal year.
Southern Copper Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Tuesday, February 11th. This is a boost from Southern Copper's previous quarterly dividend of $0.60. Southern Copper's payout ratio is 64.81%.
About Southern Copper
(
Free Report)
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.
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