Dynamic Technology Lab Private Ltd Purchases 5,890 Shares of Southern Copper Co. (NYSE:SCCO)

Dynamic Technology Lab Private Ltd increased its position in shares of Southern Copper Co. (NYSE:SCCO) by 195.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,902 shares of the basic materials company’s stock after buying an additional 5,890 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Southern Copper were worth $811,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its stake 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 buying an additional 599,610 shares during the last quarter. Norges Bank acquired a new stake in shares of Southern Copper in the fourth quarter valued at about $52,738,000. Wealthfront Advisers LLC bought a new stake in Southern Copper during the fourth quarter worth about $15,197,000. Axiom Investors LLC DE acquired a new position in Southern Copper during the fourth quarter valued at approximately $14,617,000. Finally, abrdn plc grew its stake in Southern Copper by 4.4% in the fourth quarter. abrdn plc now owns 2,849,638 shares of the basic materials company’s stock valued at $260,428,000 after purchasing an additional 118,909 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of SCCO stock opened at $78.46 on Monday. Southern Copper Co. has a 52 week low of $75.26 and a 52 week high of $127.34. The company has a market capitalization of $62.47 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 1.90 and a beta of 1.04. The company has a 50-day simple moving average of $93.61 and a 200 day simple moving average of $100.37. 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 (NYSE:SCCO) last posted its earnings results 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 net margin of 29.53% and a return on equity of 40.27%. On average, sell-side analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.70 per share. The ex-dividend date was Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.57%. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio (DPR) is currently 64.81%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SCCO. UBS Group raised Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Thursday, March 13th. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. 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 report on Monday, March 10th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.