SBI Securities Co. Ltd. Acquires Shares of 3,435 Southern Copper Co. (NYSE:SCCO)

SBI Securities Co. Ltd. bought a new stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,435 shares of the basic materials company's stock, valued at approximately $313,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of 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 worth $162,283,000 after buying an additional 599,610 shares during the last quarter. Itau Unibanco Holding S.A. raised its holdings in shares of 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 buying an additional 336,141 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of 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 buying an additional 283,562 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of 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 buying an additional 181,252 shares during the last quarter. Finally, abrdn plc raised its holdings in shares of Southern Copper by 4.4% in the fourth quarter. abrdn plc now owns 2,849,638 shares of the basic materials company's stock worth $260,428,000 after buying an additional 118,909 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SCCO shares. Morgan Stanley raised shares of Southern Copper from an "underweight" rating to an "equal weight" rating and decreased their price target for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. upgraded shares of Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price objective on the stock in a research note on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $94.81.

Southern Copper Stock Performance

SCCO stock traded up $0.20 during midday trading on Friday, hitting $91.02. 2,167,481 shares of the stock traded hands, compared to its average volume of 1,235,972. The firm has a market cap of $71.50 billion, a P/E ratio of 21.07, a PEG ratio of 1.90 and a beta of 1.12. 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 stock's fifty day simple moving average is $93.83 and its 200-day simple moving average is $101.10. Southern Copper Co. has a 1-year low of $84.33 and a 1-year high of $129.79.

Southern Copper (NYSE:SCCO - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 EPS 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%. On average, analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.08%. The ex-dividend date was Tuesday, February 11th. This is a positive change from Southern Copper's previous quarterly dividend of $0.60. Southern Copper's dividend payout ratio (DPR) is currently 64.81%.

Southern Copper 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.