Transce3nd LLC Makes New Investment in Southern Copper Co. (NYSE:SCCO)

Transce3nd LLC purchased a new stake in Southern Copper Co. (NYSE:SCCO) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,680 shares of the basic materials company’s stock, valued at approximately $244,000.

A number of other hedge funds have also bought and sold shares of SCCO. JPMorgan Chase & Co. boosted its holdings in 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 valued at $162,283,000 after purchasing an additional 599,610 shares during the period. Norges Bank bought a new stake in shares of Southern Copper in the fourth quarter valued at approximately $52,738,000. Renaissance Technologies LLC grew its position in Southern Copper by 1,417.7% during the fourth quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company’s stock worth $37,173,000 after buying an additional 381,035 shares in the last quarter. Marshall Wace LLP increased its stake in Southern Copper by 49.6% during the 4th quarter. Marshall Wace LLP now owns 998,923 shares of the basic materials company’s stock worth $91,032,000 after acquiring an additional 331,319 shares during the period. Finally, Distillate Capital Partners LLC acquired a new position in Southern Copper in the 4th quarter valued at $19,785,000. 7.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SCCO shares. JPMorgan Chase & Co. decreased their price target on Southern Copper from $84.00 to $83.50 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Scotiabank increased their price target on shares of Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a research report on Monday, March 10th. Finally, UBS Group lowered their price objective on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Southern Copper has an average rating of “Hold” and a consensus target price of $89.58.

Southern Copper Stock Up 0.3 %

Shares of NYSE:SCCO opened at $86.47 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a 52-week low of $74.84 and a 52-week high of $127.34. The company has a market capitalization of $68.84 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. The company has a fifty day moving average of $91.25 and a 200-day moving average of $97.95.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results 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 net margin of 29.53% and a return on equity of 40.27%. On average, equities analysts predict that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were given a dividend of $0.70 per share. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Tuesday, February 11th. Southern Copper’s dividend payout ratio (DPR) 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.