Concentric Capital Strategies LP bought a new position in 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 firm bought 22,337 shares of the basic materials company's stock, valued at approximately $2,036,000.
A number of other large investors have also added to or reduced their stakes in the stock. Nordea Investment Management AB lifted its stake in shares of Southern Copper by 15.3% during 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 buying an additional 14,391 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted 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 acquiring an additional 24,933 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Southern Copper in the fourth quarter worth about $8,420,000. Charles Schwab Investment Management Inc. grew its position in shares of Southern Copper by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,437 shares of the basic materials company's stock worth $21,638,000 after purchasing an additional 4,889 shares in the last quarter. Finally, Geneos Wealth Management Inc. bought a new stake in Southern Copper during the 4th quarter valued at approximately $308,000. Institutional investors own 7.94% of the company's stock.
Analyst Ratings Changes
A number of analysts have issued reports on SCCO shares. Scotiabank lifted their price target 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. Hsbc Global Res upgraded Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price objective on Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a report on Monday, April 14th. UBS Group cut their target price 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, StockNews.com downgraded shares of Southern Copper from a "buy" rating to a "hold" rating in a research note on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Southern Copper presently has an average rating of "Hold" and an average target price of $91.50.
Get Our Latest Stock Analysis on SCCO
Southern Copper Stock Performance
Shares of SCCO stock traded up $1.26 during mid-day trading on Friday, reaching $89.34. The stock had a trading volume of 1,022,661 shares, compared to its average volume of 1,213,526. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a 1-year low of $74.11 and a 1-year high of $126.09. The firm has a market cap of $71.13 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 1.90 and a beta of 1.05. The business's fifty day moving average is $90.37 and its 200-day moving average is $95.56.
Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.14. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.05 billion. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. On average, research analysts forecast that Southern Copper Co. will post 4.66 earnings per share for the current year.
Southern Copper Announces Dividend
The company also recently disclosed a dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be issued a $0.70 dividend. This represents a yield of 2.98%. The ex-dividend date is Friday, May 2nd. Southern Copper's payout ratio is 61.27%.
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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