Vanguard Group Inc. boosted its position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 1.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 972,657 shares of the basic materials company's stock after acquiring an additional 18,426 shares during the period. Vanguard Group Inc. owned about 0.12% of Southern Copper worth $88,638,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Southern Copper during the 4th quarter worth $30,000. Deseret Mutual Benefit Administrators raised its stake in Southern Copper by 210.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock valued at $35,000 after buying an additional 257 shares in the last quarter. IFP Advisors Inc lifted its holdings in Southern Copper by 143.4% during the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock worth $43,000 after buying an additional 281 shares during the last quarter. Spire Wealth Management acquired a new position in shares of Southern Copper during the 4th quarter worth about $47,000. Finally, Larson Financial Group LLC increased its holdings in shares of Southern Copper by 28.0% in the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock valued at $48,000 after acquiring an additional 114 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.
Southern Copper Stock Performance
Shares of SCCO traded down $0.34 during mid-day trading on Tuesday, reaching $87.33. 221,156 shares of the company's stock were exchanged, compared to its average volume of 1,470,515. The business's fifty day simple moving average is $91.94 and its 200-day simple moving average is $98.79. Southern Copper Co. has a 52-week low of $74.84 and a 52-week high of $129.79. The stock has a market capitalization of $69.53 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31.
Southern Copper (NYSE:SCCO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. On average, equities research analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current year.
Southern Copper Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend was Tuesday, February 11th. This is a boost from Southern Copper's previous quarterly dividend of $0.60. Southern Copper's payout ratio is 64.81%.
Analyst Upgrades and Downgrades
SCCO has been the topic of several research analyst reports. Scotiabank boosted their target price 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 upgraded shares of Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 price objective for the company in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a research report on Monday. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $92.92.
Check Out Our Latest Stock Analysis on SCCO
Southern Copper Profile
(
Free Report)
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.
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