Pictet Asset Management Holding SA Reduces Holdings in Southern Copper Co. (NYSE:SCCO)

Pictet Asset Management Holding SA lessened its stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 141,870 shares of the basic materials company's stock after selling 4,400 shares during the period. Pictet Asset Management Holding SA's holdings in Southern Copper were worth $12,929,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SCCO. Cerity Partners LLC increased its holdings in shares of Southern Copper by 30.9% in the third quarter. Cerity Partners LLC now owns 13,516 shares of the basic materials company's stock valued at $1,563,000 after purchasing an additional 3,193 shares during the period. Townsquare Capital LLC boosted its position in Southern Copper by 48.7% in the third quarter. Townsquare Capital LLC now owns 8,687 shares of the basic materials company's stock valued at $1,005,000 after buying an additional 2,845 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in Southern Copper by 3.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,734 shares of the basic materials company's stock worth $779,000 after buying an additional 196 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Southern Copper during the 3rd quarter worth approximately $924,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in Southern Copper during the 3rd quarter valued at approximately $5,078,000. Institutional investors and hedge funds own 7.94% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on SCCO shares. Morgan Stanley raised shares of Southern Copper from an "underweight" rating to an "equal weight" rating and reduced their target price for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. Scotiabank lifted their price objective on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research note on Monday, March 10th. Finally, UBS Group upgraded Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 target price on the stock in a research note on Thursday, March 13th. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $94.42.

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Southern Copper Price Performance

Shares of NYSE:SCCO traded down $8.27 during trading on Friday, reaching $78.46. 2,936,729 shares of the company's stock traded hands, compared to its average volume of 1,201,397. The firm has a market cap of $62.47 billion, a PE ratio of 18.16, a P/E/G ratio of 1.90 and a beta of 1.04. Southern Copper Co. has a fifty-two week low of $77.43 and a fifty-two week high of $127.34. 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 company has a 50-day simple moving average of $93.61 and a 200-day simple moving average of $100.37.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly earnings data 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%. As a group, analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were given a dividend of $0.70 per share. The ex-dividend date was Tuesday, February 11th. This is a boost from Southern Copper's previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 3.57%. Southern Copper's dividend payout ratio is currently 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.