Lbp Am Sa Grows Stock Position in Southern Copper Co. (NYSE:SCCO)

LBP AM SA increased its position in Southern Copper Co. (NYSE:SCCO - Free Report) by 267.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,750 shares of the basic materials company's stock after acquiring an additional 12,924 shares during the period. LBP AM SA's holdings in Southern Copper were worth $1,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCCO. Deseret Mutual Benefit Administrators raised its stake in Southern Copper by 210.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock worth $35,000 after acquiring an additional 257 shares during the last quarter. IFP Advisors Inc raised its stake in Southern Copper by 143.4% in the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock worth $43,000 after acquiring an additional 281 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Southern Copper in the 3rd quarter worth $47,000. Larson Financial Group LLC grew its position in Southern Copper by 578.3% during the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company's stock worth $47,000 after purchasing an additional 347 shares during the period. Finally, Spire Wealth Management acquired a new stake in Southern Copper during the 4th quarter worth about $47,000. Hedge funds and other institutional investors own 7.94% of the company's stock.

Southern Copper Price Performance

Southern Copper stock traded down $0.26 during midday trading on Thursday, reaching $99.28. The company had a trading volume of 1,195,079 shares, compared to its average volume of 1,142,974. 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 firm's fifty day simple moving average is $94.06 and its 200-day simple moving average is $100.58. Southern Copper Co. has a 12-month low of $84.33 and a 12-month high of $127.34. The company has a market capitalization of $79.05 billion, a P/E ratio of 22.98, a P/E/G ratio of 1.90 and a beta of 1.12.

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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%. As a group, 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. Shareholders of record on Tuesday, February 11th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.82%. This is a positive change from Southern Copper's previous quarterly dividend of $0.60. The ex-dividend date was Tuesday, February 11th. Southern Copper's dividend payout ratio (DPR) is 64.81%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Scotiabank increased their price target on Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a research report on Monday, March 10th. UBS Group raised Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 price target on the stock in a research report on Thursday, March 13th. Morgan Stanley raised 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 report on Thursday, December 12th. Finally, JPMorgan Chase & Co. raised Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price target on the stock in a research report on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $97.31.

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.