Southern Copper Co. (NYSE:SCCO) Holdings Lifted by FIL Ltd

FIL Ltd raised its position in Southern Copper Co. (NYSE:SCCO) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,171,227 shares of the basic materials company’s stock after purchasing an additional 3,045 shares during the quarter. FIL Ltd owned about 0.15% of Southern Copper worth $106,734,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Morse Asset Management Inc acquired a new stake in Southern Copper in the 3rd quarter valued at approximately $1,397,000. Quantinno Capital Management LP boosted its position in Southern Copper by 9.8% during the 3rd quarter. Quantinno Capital Management LP now owns 8,424 shares of the basic materials company’s stock worth $975,000 after acquiring an additional 753 shares during the period. State Street Corp grew its stake in shares of Southern Copper by 1.0% in the third quarter. State Street Corp now owns 2,728,802 shares of the basic materials company’s stock worth $315,641,000 after purchasing an additional 27,358 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Southern Copper by 384.4% during the third quarter. Two Sigma Advisers LP now owns 90,173 shares of the basic materials company’s stock valued at $10,430,000 after purchasing an additional 71,558 shares during the period. Finally, Orion Portfolio Solutions LLC raised its stake in shares of Southern Copper by 2.7% during the third quarter. Orion Portfolio Solutions LLC now owns 16,751 shares of the basic materials company’s stock valued at $1,938,000 after purchasing an additional 441 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Down 5.2 %

SCCO stock opened at $75.25 on Wednesday. The firm has a market cap of $59.91 billion, a PE ratio of 17.42, a P/E/G ratio of 1.90 and a beta of 1.04. Southern Copper Co. has a 12 month low of $74.84 and a 12 month high of $127.34. 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 has a 50 day simple moving average of $92.69 and a 200 day simple moving average of $99.82.

Southern Copper (NYSE:SCCO) last announced 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%. Equities research analysts forecast that Southern Copper Co. will post 4.66 earnings per share for the current fiscal 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 paid a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a yield of 3.72%. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio (DPR) is currently 64.81%.

Analysts Set New Price Targets

SCCO has been the topic of several research analyst reports. UBS Group raised shares of 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. Scotiabank raised their price objective on shares of 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, Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and dropped their target price for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.