Aptus Capital Advisors LLC increased its position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 176.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,751 shares of the basic materials company's stock after buying an additional 5,588 shares during the period. Aptus Capital Advisors LLC's holdings in Southern Copper were worth $797,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in SCCO. Norges Bank purchased a new stake in Southern Copper in the fourth quarter valued at $52,738,000. Renaissance Technologies LLC grew its stake in shares of Southern Copper by 1,417.7% in the fourth quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company's stock valued at $37,173,000 after buying an additional 381,035 shares in the last quarter. Northern Trust Corp increased its holdings in Southern Copper by 44.9% during the 4th quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company's stock worth $104,484,000 after purchasing an additional 355,013 shares during the last quarter. Marshall Wace LLP lifted its stake in Southern Copper by 49.6% during the fourth quarter. Marshall Wace LLP now owns 998,923 shares of the basic materials company's stock worth $91,032,000 after purchasing an additional 331,319 shares during the last quarter. Finally, Distillate Capital Partners LLC acquired a new stake in shares of Southern Copper in the 4th quarter worth about $19,785,000. 7.94% of the stock is owned by institutional investors and hedge funds.
Southern Copper Stock Performance
Shares of NYSE:SCCO traded up $1.26 during midday trading on Friday, reaching $89.34. 1,022,661 shares of the company's stock traded hands, compared to its average volume of 1,213,875. The company has a market cap of $71.13 billion, a price-to-earnings ratio of 20.68, a P/E/G ratio of 1.90 and a beta of 1.05. 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 one year low of $74.11 and a one year high of $126.09. The stock has a 50 day moving average of $90.37 and a 200 day moving average of $95.68.
Southern Copper (NYSE:SCCO - Get Free Report) last announced its earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.14. The firm had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.05 billion. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. As a group, equities research analysts anticipate that Southern Copper Co. will post 4.66 EPS for the current fiscal year.
Southern Copper Announces Dividend
The business also recently declared a dividend, which will be paid on Monday, May 19th. Investors 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 (DPR) is presently 61.27%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the stock. Scotiabank raised their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a research note on Monday, March 10th. StockNews.com cut shares of Southern Copper from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. UBS Group dropped their price objective on Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. cut their price target on Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $91.50.
Get Our Latest Research Report on SCCO
About Southern Copper
(
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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