Deltec Asset Management LLC acquired a new stake in Southern Copper Corporation (NYSE:SCCO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,721 shares of the basic materials company's stock, valued at approximately $348,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in Southern Copper in the 4th quarter valued at approximately $30,000. Deseret Mutual Benefit Administrators increased its position in shares of Southern Copper by 210.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock worth $35,000 after acquiring an additional 257 shares in the last quarter. IFP Advisors Inc raised its stake in Southern Copper by 143.4% during the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock valued at $43,000 after purchasing an additional 281 shares during the period. Larson Financial Group LLC lifted its stake in 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 acquiring an additional 114 shares in the last quarter. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Southern Copper during the fourth quarter worth approximately $60,000. 7.94% of the stock is owned by institutional investors and hedge funds.
Southern Copper Price Performance
Southern Copper stock traded up $2.27 on Tuesday, reaching $96.92. The company's stock had a trading volume of 1,349,024 shares, compared to its average volume of 1,195,588. The business's fifty day moving average price is $92.12 and its 200 day moving average price is $92.97. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.22 and a current ratio of 3.71. The company has a market cap of $77.17 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 2.25 and a beta of 1.01. Southern Copper Corporation has a twelve month low of $74.11 and a twelve month high of $118.64.
Southern Copper (NYSE:SCCO - Get Free Report) last issued its quarterly earnings results 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 30.00% and a return on equity of 39.39%. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.05 billion. Equities analysts expect that Southern Copper Corporation will post 4.66 earnings per share for the current fiscal year.
Southern Copper Dividend Announcement
The company also recently declared a dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were issued a $0.70 dividend. This represents a yield of 2.98%. The ex-dividend date of this dividend was Friday, May 2nd. Southern Copper's dividend payout ratio is 61.27%.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on SCCO shares. 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. UBS Group cut 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. JPMorgan Chase & Co. decreased their price target on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Wall Street Zen lowered Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, Hsbc Global Res upgraded Southern Copper from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Southern Copper presently has an average rating of "Hold" and an average target price of $91.50.
Check Out Our Latest Report on Southern Copper
Southern Copper Company 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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