32,667 Shares in Southern Copper Corporation (NYSE:SCCO) Bought by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC purchased a new stake in shares of 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 institutional investor purchased 32,667 shares of the basic materials company's stock, valued at approximately $3,053,000.

A number of other hedge funds have also recently bought and sold shares of SCCO. Norges Bank acquired a new position in shares of Southern Copper during the 4th quarter worth about $52,738,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Southern Copper during the fourth quarter worth about $40,226,000. Renaissance Technologies LLC increased its position in Southern Copper by 1,417.7% during the fourth quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company's stock worth $37,173,000 after buying an additional 381,035 shares during the last quarter. Northern Trust Corp increased its position in Southern Copper by 44.9% during the fourth quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company's stock worth $104,484,000 after buying an additional 355,013 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in Southern Copper by 49.6% in the fourth quarter. Marshall Wace LLP now owns 998,923 shares of the basic materials company's stock valued at $91,032,000 after buying an additional 331,319 shares during the period. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Performance

Shares of Southern Copper stock traded up $7.68 during trading on Thursday, reaching $104.76. The company's stock had a trading volume of 2,096,025 shares, compared to its average volume of 1,201,900. 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 business's 50-day moving average price is $92.91 and its 200-day moving average price is $93.02. Southern Copper Corporation has a 52 week low of $74.11 and a 52 week high of $118.64. The firm has a market cap of $83.41 billion, a PE ratio of 22.92, a P/E/G ratio of 2.30 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 earnings per share (EPS) 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 firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.05 billion. Equities analysts forecast that Southern Copper Corporation will post 4.66 earnings per share for the current year.

Southern Copper Announces Dividend

The business also recently declared a dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were paid a $0.70 dividend. This represents a dividend yield of 2.98%. The ex-dividend date of this dividend was Friday, May 2nd. Southern Copper's dividend payout ratio (DPR) is currently 61.27%.

Analysts Set New Price Targets

Several research analysts have recently commented on SCCO shares. Wall Street Zen downgraded Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Scotiabank lifted their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a research report on Monday, March 10th. Hsbc Global Res upgraded shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. 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. Finally, UBS Group lowered their price target on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Southern Copper currently has a consensus rating of "Hold" and an average target price 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.