D. E. Shaw & Co. Inc. Has $43.24 Million Stock Position in Southern Copper Co. (NYSE:SCCO)

D. E. Shaw & Co. Inc. reduced its position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 8.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 474,530 shares of the basic materials company's stock after selling 46,001 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.06% of Southern Copper worth $43,244,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Driehaus Capital Management LLC boosted its position in Southern Copper by 26.8% during the 4th quarter. Driehaus Capital Management LLC now owns 1,028,848 shares of the basic materials company's stock valued at $93,759,000 after acquiring an additional 217,546 shares in the last quarter. Concentric Capital Strategies LP bought a new stake in Southern Copper during the 4th quarter valued at $2,036,000. CoreCommodity Management LLC boosted its position in Southern Copper by 10.6% during the 4th quarter. CoreCommodity Management LLC now owns 28,629 shares of the basic materials company's stock valued at $2,609,000 after acquiring an additional 2,742 shares in the last quarter. Crestline Management LP boosted its position in shares of Southern Copper by 38.7% in the 4th quarter. Crestline Management LP now owns 6,055 shares of the basic materials company's stock worth $552,000 after purchasing an additional 1,688 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of Southern Copper by 3.1% in the 4th quarter. Cetera Investment Advisers now owns 33,180 shares of the basic materials company's stock worth $3,024,000 after purchasing an additional 995 shares in the last quarter. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Scotiabank raised their price objective on Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a research report on Monday, March 10th. JPMorgan Chase & Co. reduced 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. UBS Group reduced their target price on Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Hsbc Global Res upgraded Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. Finally, StockNews.com upgraded Southern Copper from a "hold" rating to a "buy" rating in a research note on Monday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Southern Copper has a consensus rating of "Hold" and an average price target of $91.50.

Southern Copper Stock Up 0.1%

SCCO stock traded up $0.07 during trading on Wednesday, reaching $93.36. The stock had a trading volume of 791,434 shares, compared to its average volume of 1,210,956. Southern Copper Co. has a 1-year low of $74.11 and a 1-year high of $126.09. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $74.33 billion, a P/E ratio of 21.61, a PEG ratio of 1.90 and a beta of 1.05. The firm has a fifty day moving average price of $90.46 and a 200 day moving average price of $95.25.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.14. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.05 billion. On average, equities analysts anticipate that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Announces Dividend

The company also recently declared a dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a dividend yield of 2.98%. Southern Copper's dividend payout ratio (DPR) is presently 61.27%.

About Southern Copper

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.