Algert Global LLC bought a new position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,550 shares of the basic materials company's stock, valued at approximately $2,055,000.
Other large investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. bought a new position in Southern Copper in the 4th quarter worth about $30,000. Deseret Mutual Benefit Administrators boosted its position in shares of Southern Copper by 210.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock valued at $35,000 after acquiring an additional 257 shares during the period. IFP Advisors Inc grew its stake in Southern Copper by 143.4% during the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock valued at $43,000 after acquiring an additional 281 shares in the last quarter. Spire Wealth Management bought a new stake in Southern Copper during the 4th quarter worth approximately $47,000. Finally, Larson Financial Group LLC lifted its stake in Southern Copper by 28.0% in the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock worth $48,000 after purchasing an additional 114 shares in the last quarter. 7.94% of the stock is owned by institutional investors.
Southern Copper Stock Performance
Shares of SCCO stock traded up $0.05 during trading hours on Wednesday, reaching $93.34. 250,199 shares of the company traded hands, compared to its average volume of 1,209,867. The firm has a 50-day moving average price of $90.46 and a 200 day moving average price of $95.25. The company has a market cap of $74.32 billion, a P/E ratio of 21.61, a P/E/G ratio of 1.90 and a beta of 1.05. Southern Copper Co. has a 12-month low of $74.11 and a 12-month high of $126.09. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31.
Southern Copper (NYSE:SCCO - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.05 billion. As a group, sell-side analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.
Southern Copper Announces Dividend
The company also recently announced a dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, May 2nd. This represents a dividend yield of 2.98%. Southern Copper's dividend payout ratio is currently 61.27%.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on SCCO shares. UBS Group reduced their price target 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. Scotiabank upped their target price on Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a research note on Monday, March 10th. JPMorgan Chase & Co. dropped their price target on Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research report on Monday, April 14th. Hsbc Global Res upgraded shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 24th. Finally, StockNews.com raised shares of Southern Copper from a "hold" rating to a "buy" rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $91.50.
Get Our Latest Analysis on SCCO
Southern Copper Company Profile
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Free Report)
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.
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