7,698 Shares in Southern Copper Co. (NYSE:SCCO) Bought by Aware Super Pty Ltd as trustee of Aware Super

Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in Southern Copper Co. (NYSE:SCCO) in the fourth quarter, HoldingsChannel reports. The fund purchased 7,698 shares of the basic materials company’s stock, valued at approximately $702,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB lifted its stake in shares of Southern Copper by 15.3% in the fourth quarter. Nordea Investment Management AB now owns 108,753 shares of the basic materials company’s stock valued at $9,969,000 after buying an additional 14,391 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Southern Copper by 74.6% in 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 during the period. Robeco Institutional Asset Management B.V. lifted its position in shares of Southern Copper by 22.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 137,019 shares of the basic materials company’s stock worth $12,487,000 after acquiring an additional 24,933 shares during the period. Morse Asset Management Inc acquired a new stake in shares of Southern Copper during the 3rd quarter worth approximately $1,397,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Southern Copper during the fourth quarter valued at approximately $8,420,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SCCO has been the subject of several research reports. UBS Group reduced their target price on Southern Copper from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. reduced their price objective on shares of Southern Copper from $84.00 to $83.50 and set a “neutral” rating for the company in a report on Monday. Finally, Scotiabank upped their target price 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. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Southern Copper has an average rating of “Hold” and an average price target of $89.58.

Southern Copper Trading Down 0.9 %

Shares of Southern Copper stock opened at $86.85 on Wednesday. Southern Copper Co. has a 12-month low of $74.84 and a 12-month high of $127.34. The stock has a market capitalization of $69.15 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. The company has a 50-day simple moving average of $91.78 and a 200 day simple moving average of $98.70. 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 (NYSE:SCCO) last posted its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share 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%. Research analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Shareholders 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 3.22%. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s 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.