Deltec Asset Management LLC acquired a new position in Southern Copper Corporation (NYSE:SCCO - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,721 shares of the basic materials company's stock, valued at approximately $348,000.
Several other large investors also recently modified their holdings of the company. Jamison Private Wealth Management Inc. grew its holdings in shares of Southern Copper by 1.0% in the first quarter. Jamison Private Wealth Management Inc. now owns 66,704 shares of the basic materials company's stock worth $6,234,000 after acquiring an additional 688 shares during the period. ORG Wealth Partners LLC purchased a new position in Southern Copper during the first quarter valued at $1,260,000. QRG Capital Management Inc. purchased a new position in Southern Copper during the first quarter valued at $263,000. Janney Montgomery Scott LLC lifted its position in Southern Copper by 6.2% during the first quarter. Janney Montgomery Scott LLC now owns 187,970 shares of the basic materials company's stock valued at $17,568,000 after purchasing an additional 11,052 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Southern Copper by 42.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 14,773 shares of the basic materials company's stock valued at $1,381,000 after purchasing an additional 4,391 shares in the last quarter. Institutional investors own 7.94% of the company's stock.
Southern Copper Price Performance
Shares of Southern Copper stock traded down $1.74 during trading hours on Friday, hitting $93.51. The company's stock had a trading volume of 6,444,740 shares, compared to its average volume of 1,195,765. The business has a 50 day moving average price of $91.98 and a two-hundred day moving average price of $93.07. Southern Copper Corporation has a 12-month low of $74.11 and a 12-month high of $118.64. The company has a market cap of $74.45 billion, a PE ratio of 20.46, a PEG ratio of 2.25 and a beta of 1.01. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.22 and a current ratio of 3.71.
Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.05 by $0.14. Southern Copper had a return on equity of 39.39% and a net margin of 30.00%. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.05 billion. Analysts expect that Southern Copper Corporation will post 4.66 earnings per share for the current fiscal year.
Southern Copper Announces Dividend
The firm also recently disclosed a dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were given a $0.70 dividend. The ex-dividend date was Friday, May 2nd. This represents a dividend yield of 2.98%. Southern Copper's payout ratio is 61.27%.
Analyst Ratings Changes
Several equities analysts recently weighed in on SCCO shares. Scotiabank lifted their target price on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research report on Monday, March 10th. Hsbc Global Res upgraded Southern Copper from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 24th. Itau BBA Securities upgraded Southern Copper from an "underperform" rating to a "market perform" rating in a research report on Wednesday, June 11th. JPMorgan Chase & Co. lowered their target price on Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, UBS Group lowered their target price on Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $91.50.
Check Out Our Latest Analysis on SCCO
Southern Copper Profile
(
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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