Lansforsakringar Fondforvaltning AB publ Takes $1.69 Million Position in Southern Copper Co. (NYSE:SCCO)

Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 18,553 shares of the basic materials company's stock, valued at approximately $1,691,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Larson Financial Group LLC increased its position 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 valued at $48,000 after acquiring an additional 114 shares during the period. Cadence Wealth Management LLC increased its position in Southern Copper by 4.1% in the 4th quarter. Cadence Wealth Management LLC now owns 2,919 shares of the basic materials company's stock valued at $266,000 after acquiring an additional 116 shares during the period. Tyche Wealth Partners LLC increased its position in Southern Copper by 0.6% in the 4th quarter. Tyche Wealth Partners LLC now owns 19,807 shares of the basic materials company's stock valued at $1,805,000 after acquiring an additional 122 shares during the period. Yousif Capital Management LLC increased its position in Southern Copper by 0.9% in the 4th quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company's stock valued at $1,311,000 after acquiring an additional 122 shares during the period. Finally, Signaturefd LLC increased its position in Southern Copper by 1.7% in the 4th quarter. Signaturefd LLC now owns 8,043 shares of the basic materials company's stock valued at $733,000 after acquiring an additional 133 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SCCO has been the subject of several recent research reports. Wall Street Zen cut shares of Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. UBS Group decreased their price target on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. JPMorgan Chase & Co. reduced their price objective 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. Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. Finally, Scotiabank upped their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Southern Copper has a consensus rating of "Hold" and a consensus target price of $91.50.

Southern Copper Trading Up 0.0%

Shares of NYSE:SCCO traded up $0.01 during trading on Tuesday, reaching $92.46. The stock had a trading volume of 1,219,163 shares, compared to its average volume of 1,192,286. The firm's fifty day moving average is $89.26 and its 200 day moving average is $93.55. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a 52 week low of $74.11 and a 52 week high of $118.64. The stock has a market cap of $73.62 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 1.90 and a beta of 1.01.

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

Southern Copper Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, May 2nd. This represents a dividend yield of 2.98%. Southern Copper's dividend payout ratio is currently 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.