2,726 Shares in Southern Copper Co. (NYSE:SCCO) Acquired by Stevens Capital Management LP

Stevens Capital Management LP purchased a new position in Southern Copper Co. (NYSE:SCCO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,726 shares of the basic materials company's stock, valued at approximately $248,000.

Other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in Southern Copper by 74.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company's stock worth $162,283,000 after acquiring an additional 599,610 shares in the last quarter. Itau Unibanco Holding S.A. boosted its stake in shares of Southern Copper by 115,910.7% during the third quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company's stock valued at $38,915,000 after purchasing an additional 336,141 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Southern Copper by 10.6% during the third quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company's stock valued at $342,796,000 after buying an additional 283,562 shares during the period. BNP Paribas Financial Markets raised its stake in 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 in the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in Southern Copper during the fourth quarter worth $15,197,000. Hedge funds and other institutional investors own 7.94% of the company's stock.

Remove Ads

Southern Copper Stock Down 2.8 %

Shares of SCCO traded down $2.73 during mid-day trading on Friday, hitting $94.11. 1,135,650 shares of the company traded hands, compared to its average volume of 1,193,527. The business has a 50 day moving average of $94.41 and a 200 day moving average of $100.64. The company has a market capitalization of $74.93 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a 1-year low of $84.33 and a 1-year high of $127.34.

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

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were paid a $0.70 dividend. This is a positive change from Southern Copper's previous quarterly dividend of $0.60. The ex-dividend date was Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a yield of 2.98%. Southern Copper's dividend payout ratio (DPR) is 64.81%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SCCO shares. UBS Group upgraded Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 price target on the stock in a report on Thursday, March 13th. 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 note on Monday, March 10th. Morgan Stanley raised shares of Southern Copper from an "underweight" rating to an "equal weight" rating and decreased their price target for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. raised 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 report on Monday, December 2nd. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $94.42.

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.