BNP Paribas Financial Markets increased its holdings in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 12.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,969 shares of the basic materials company's stock after buying an additional 24,398 shares during the period. BNP Paribas Financial Markets' holdings in Southern Copper were worth $19,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB lifted its holdings in Southern Copper by 15.3% in the 4th quarter. Nordea Investment Management AB now owns 108,753 shares of the basic materials company's stock valued at $9,969,000 after purchasing an additional 14,391 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Southern Copper by 22.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 137,019 shares of the basic materials company's stock valued at $12,487,000 after buying an additional 24,933 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Southern Copper during the 4th quarter valued at about $8,420,000. Charles Schwab Investment Management Inc. grew its stake in Southern Copper by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 237,437 shares of the basic materials company's stock valued at $21,638,000 after acquiring an additional 4,889 shares in the last quarter. Finally, Geneos Wealth Management Inc. purchased a new stake in Southern Copper during the 4th quarter valued at about $308,000. Hedge funds and other institutional investors own 7.94% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. Scotiabank boosted their target price on Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a report on Monday, March 10th. JPMorgan Chase & Co. cut their target price on Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research note on Monday, April 14th. StockNews.com raised Southern Copper from a "hold" rating to a "buy" rating in a research note on Monday. UBS Group dropped their price objective on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, Hsbc Global Res upgraded shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $91.50.
Check Out Our Latest Stock Analysis on SCCO
Southern Copper Trading Down 1.2%
Shares of NYSE SCCO traded down $1.10 during mid-day trading on Thursday, reaching $92.30. 405,696 shares of the company's stock were exchanged, compared to its average volume of 1,207,814. The firm has a market capitalization of $73.49 billion, a price-to-earnings ratio of 21.36, a PEG 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 52-week low of $74.11 and a 52-week high of $126.09. The company's 50-day moving average is $90.51 and its 200-day moving average is $95.24.
Southern Copper (NYSE:SCCO - Get Free Report) last posted its earnings results on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.14. The company 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%. Analysts expect that Southern Copper Co. will post 4.66 EPS for the current fiscal year.
Southern Copper Announces Dividend
The company also recently announced a dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be paid a dividend of $0.70 per share. This represents a yield of 2.98%. The ex-dividend date of this dividend is Friday, May 2nd. Southern Copper's payout ratio is 61.27%.
Southern Copper 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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