Dimensional Fund Advisors LP boosted its stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 424,673 shares of the basic materials company's stock after purchasing an additional 31,453 shares during the quarter. Dimensional Fund Advisors LP owned 0.05% of Southern Copper worth $38,703,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Southern Copper in the 4th quarter worth approximately $30,000. Deseret Mutual Benefit Administrators grew its position in 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 raised 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 worth $43,000 after acquiring an additional 281 shares in the last quarter. Spire Wealth Management bought a new position in shares of Southern Copper during the fourth quarter valued at $47,000. Finally, Larson Financial Group LLC grew its holdings in shares of 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 during the last quarter. Institutional investors own 7.94% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports 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 on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. reduced their target price on Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a report on Monday, April 14th. Scotiabank raised their price target on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a report on Monday, March 10th. StockNews.com lowered Southern Copper from a "buy" rating to a "hold" rating in a research note on Monday, April 28th. Finally, Hsbc Global Res upgraded Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $91.50.
Read Our Latest Research Report on Southern Copper
Southern Copper Trading Up 1.3 %
SCCO stock traded up $1.15 during midday trading on Friday, reaching $89.23. The stock had a trading volume of 609,095 shares, compared to its average volume of 1,212,018. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a twelve month low of $74.11 and a twelve month high of $126.09. The firm has a market cap of $71.04 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 1.90 and a beta of 1.05. The business has a fifty day simple moving average of $90.30 and a two-hundred day simple moving average of $95.86.
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 the consensus estimate 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 for the quarter, compared to analyst estimates of $3.05 billion. As a group, research analysts expect that Southern Copper Co. will post 4.66 EPS for the current fiscal year.
Southern Copper Announces Dividend
The business also recently announced a dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be issued a dividend of $0.70 per share. This represents a yield of 2.98%. The ex-dividend date is Friday, May 2nd. Southern Copper's dividend payout ratio (DPR) is currently 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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