Zurcher Kantonalbank Zurich Cantonalbank Sells 3,306 Shares of Southern Copper Co. (NYSE:SCCO)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,070 shares of the basic materials company's stock after selling 3,306 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Southern Copper were worth $4,927,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. JPMorgan Chase & Co. lifted 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 purchasing an additional 599,610 shares in the last quarter. Itau Unibanco Holding S.A. increased its position 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 buying an additional 336,141 shares during the period. Fisher Asset Management LLC lifted 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 in the last quarter. BNP Paribas Financial Markets boosted its position 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 valued at $22,275,000 after acquiring an additional 181,252 shares during the period. Finally, abrdn plc grew its stake in Southern Copper by 4.4% during the fourth quarter. abrdn plc now owns 2,849,638 shares of the basic materials company's stock valued at $260,428,000 after acquiring an additional 118,909 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.

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Southern Copper Trading Up 0.9 %

Shares of SCCO traded up $0.90 during mid-day trading on Tuesday, reaching $98.78. The company's stock had a trading volume of 973,393 shares, compared to its average volume of 1,148,092. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a 52 week low of $84.33 and a 52 week high of $127.34. The company's fifty day moving average price is $93.88 and its two-hundred day moving average price is $100.61. The stock has a market cap of $78.64 billion, a PE ratio of 22.86, a P/E/G ratio of 1.90 and a beta of 1.12.

Southern Copper (NYSE:SCCO - Get Free Report) last released its quarterly earnings data 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 return on equity of 40.27% and a net margin of 29.53%. On average, analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.83%. 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 is 64.81%.

Analysts Set New Price Targets

Several research firms have issued reports on SCCO. Morgan Stanley upgraded shares of Southern Copper from an "underweight" rating to an "equal weight" rating and lowered their target price for the stock from $106.30 to $102.00 in a research note on Thursday, December 12th. Scotiabank increased their price objective 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 upgraded Southern Copper from a "neutral" rating to a "buy" rating and set a $120.00 target price for the company in a research report on Thursday, March 13th. 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 report on Monday, December 2nd. Four research 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's stock. Based on data from MarketBeat, the stock 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.