Mackenzie Financial Corp Raises Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Mackenzie Financial Corp grew its position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 51.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 170,816 shares of the basic materials company's stock after purchasing an additional 57,834 shares during the quarter. Mackenzie Financial Corp's holdings in Southern Copper were worth $15,454,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. bought a new stake in Southern Copper during the 4th quarter worth approximately $30,000. Deseret Mutual Benefit Administrators grew its stake 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 purchasing an additional 257 shares during the last quarter. IFP Advisors Inc increased its holdings in Southern Copper by 143.4% in the fourth 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. Spire Wealth Management bought a new position in Southern Copper during the 4th quarter worth $47,000. Finally, Larson Financial Group LLC lifted its holdings in Southern Copper by 28.0% during the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock worth $48,000 after buying an additional 114 shares during the period. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Up 0.8%

NYSE:SCCO traded up $0.71 during trading hours on Thursday, reaching $92.45. The company had a trading volume of 1,053,275 shares, compared to its average volume of 1,193,088. The business's 50-day simple moving average is $89.80 and its two-hundred day simple moving average is $93.87. Southern Copper Co. has a twelve month low of $74.11 and a twelve month high of $118.64. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The firm has a market cap of $73.61 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 1.90 and a beta of 1.05.

Southern Copper (NYSE:SCCO - Get Free Report) last released 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 40.27% and a net margin of 29.53%. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.05 billion. On average, equities analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were issued a $0.70 dividend. The ex-dividend date was Friday, May 2nd. This represents a dividend yield of 2.98%. Southern Copper's dividend payout ratio is presently 61.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SCCO shares. Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. Wall Street Zen lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. 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. UBS Group decreased their price objective 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. Finally, Scotiabank boosted their target price on shares of Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a report 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. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $91.50.

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.