Morse Asset Management Inc Has $927,000 Holdings in Southern Copper Corporation (NYSE:SCCO)

Morse Asset Management Inc lowered its position in Southern Copper Corporation (NYSE:SCCO - Free Report) by 23.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,923 shares of the basic materials company's stock after selling 3,082 shares during the quarter. Morse Asset Management Inc's holdings in Southern Copper were worth $927,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Southern Copper in the 1st quarter valued at approximately $183,000. Jennison Associates LLC acquired a new stake in shares of Southern Copper in the first quarter valued at about $25,739,000. Saturna Capital Corp boosted its stake in shares of Southern Copper by 0.7% during the first quarter. Saturna Capital Corp now owns 44,263 shares of the basic materials company's stock valued at $4,137,000 after acquiring an additional 320 shares during the last quarter. Altman Advisors Inc. increased its position in Southern Copper by 2.7% during the first quarter. Altman Advisors Inc. now owns 14,468 shares of the basic materials company's stock worth $1,295,000 after purchasing an additional 381 shares during the last quarter. Finally, Cullen Frost Bankers Inc. lifted its position in Southern Copper by 117.6% during the 1st quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company's stock worth $25,000 after acquiring an additional 147 shares in the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Southern Copper from $83.50 to $79.00 and set a "neutral" rating on the stock in a report on Thursday, July 3rd. Itau BBA Securities upgraded shares of Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 24th. UBS Group cut shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price target on the stock. in a report on Tuesday, July 1st. Finally, Wall Street Zen lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to MarketBeat, Southern Copper has a consensus rating of "Hold" and an average target price of $91.00.

Southern Copper Stock Performance

Shares of SCCO traded up $0.83 during mid-day trading on Tuesday, hitting $98.88. 519,437 shares of the company's stock were exchanged, compared to its average volume of 1,246,278. The business's 50 day moving average is $96.45 and its two-hundred day moving average is $93.67. Southern Copper Corporation has a fifty-two week low of $74.11 and a fifty-two week high of $118.64. The company has a current ratio of 3.71, a quick ratio of 3.22 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $78.73 billion, a P/E ratio of 21.68, a P/E/G ratio of 2.48 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. 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. On average, equities analysts expect that Southern Copper Corporation will post 4.66 earnings per share for the current year.

Southern Copper Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were paid 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 (DPR) is presently 61.27%.

Southern Copper Company 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.