Resona Asset Management Co. Ltd. Invests $1.96 Million in Southern Copper Co. (NYSE:SCCO)

Resona Asset Management Co. Ltd. purchased a new stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,440 shares of the basic materials company's stock, valued at approximately $1,960,000.

Several other hedge funds have also added to or reduced their stakes in SCCO. Nordea Investment Management AB lifted its position in Southern Copper by 15.3% during the 4th quarter. Nordea Investment Management AB now owns 108,753 shares of the basic materials company's stock valued at $9,969,000 after purchasing an additional 14,391 shares during the period. JPMorgan Chase & Co. lifted its holdings in Southern Copper by 74.6% in the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company's stock valued at $162,283,000 after buying an additional 599,610 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Southern Copper by 22.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 137,019 shares of the basic materials company's stock valued at $12,487,000 after acquiring an additional 24,933 shares during the last quarter. Morse Asset Management Inc acquired a new stake in Southern Copper during the 3rd quarter worth $1,397,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Southern Copper during the 4th quarter valued at $8,420,000. Institutional investors own 7.94% of the company's stock.

Southern Copper Stock Up 4.0 %

SCCO traded up $3.42 during trading on Monday, reaching $88.05. The company had a trading volume of 1,029,734 shares, compared to its average volume of 1,221,423. The company has a market cap of $70.10 billion, a P/E ratio of 20.38, a PEG 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 current ratio of 2.77 and a quick ratio of 2.31. The business's fifty day moving average price is $92.05 and its 200 day moving average price is $99.00.

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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 net margin of 29.53% and a return on equity of 40.27%. Equities analysts anticipate that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The firm also recently announced 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 boost from Southern Copper's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.80 annualized dividend and a yield of 3.18%. Southern Copper's dividend payout ratio is presently 64.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Scotiabank lifted their price objective 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 raised Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 price target for the company in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a research note on Monday. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $92.92.

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.