Southern Copper Corporation (NYSE:SCCO) Shares Acquired by Lbp Am Sa

LBP AM SA lifted its position in Southern Copper Corporation (NYSE:SCCO - Free Report) by 51.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,951 shares of the basic materials company's stock after purchasing an additional 9,201 shares during the quarter. LBP AM SA's holdings in Southern Copper were worth $2,519,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SCCO. Capital World Investors lifted its position in shares of Southern Copper by 0.6% during the fourth quarter. Capital World Investors now owns 4,232,245 shares of the basic materials company's stock worth $385,684,000 after purchasing an additional 24,787 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Southern Copper by 0.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,700,844 shares of the basic materials company's stock worth $337,260,000 after purchasing an additional 15,037 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Southern Copper by 10.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,354,637 shares of the basic materials company's stock worth $123,448,000 after purchasing an additional 130,710 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Southern Copper by 6.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,280,286 shares of the basic materials company's stock valued at $116,672,000 after acquiring an additional 78,769 shares in the last quarter. Finally, FIL Ltd raised its holdings in Southern Copper by 0.3% in the fourth quarter. FIL Ltd now owns 1,171,227 shares of the basic materials company's stock valued at $106,734,000 after acquiring an additional 3,045 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. UBS Group cut shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 target price on the stock. in a report on Tuesday, July 1st. Wall Street Zen cut shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Itau BBA Securities raised shares of Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. JPMorgan Chase & Co. cut their price objective on shares of Southern Copper from $83.50 to $79.00 and set a "neutral" rating on the stock in a report on Thursday, July 3rd. Finally, Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $91.60.

Southern Copper Stock Performance

NYSE:SCCO traded down $1.55 during midday trading on Monday, reaching $100.06. The stock had a trading volume of 1,074,231 shares, compared to its average volume of 1,250,782. The firm has a fifty day simple moving average of $95.58 and a two-hundred day simple moving average of $93.47. Southern Copper Corporation has a 12-month low of $74.11 and a 12-month high of $118.64. The company has a quick ratio of 3.22, a current ratio of 3.71 and a debt-to-equity ratio of 0.70. The stock has a market cap of $79.67 billion, a P/E ratio of 21.90, a P/E/G ratio of 2.33 and a beta of 1.02.

Southern Copper (NYSE:SCCO - Get Free Report) last posted 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. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.05 billion. Southern Copper had a net margin of 30.00% and a return on equity of 39.39%. On average, equities analysts expect that Southern Copper Corporation will post 4.66 EPS for the current year.

Southern Copper Dividend Announcement

The business also recently announced a dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were given 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 payout ratio is currently 61.27%.

Southern Copper Profile

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.