Novem Group Acquires Shares of 8,004 Southern Copper Co. (NYSE:SCCO)

Novem Group purchased a new stake in shares of Southern Copper Co. (NYSE:SCCO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 8,004 shares of the basic materials company's stock, valued at approximately $729,000.

Several other hedge funds have also added to or reduced their stakes in SCCO. Merit Financial Group LLC bought a new position in Southern Copper during the 4th quarter worth $1,106,000. Ameritas Advisory Services LLC increased its position in Southern Copper by 18.2% during the 4th quarter. Ameritas Advisory Services LLC now owns 3,500 shares of the basic materials company's stock worth $319,000 after buying an additional 538 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in Southern Copper by 30.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 893 shares of the basic materials company's stock worth $81,000 after buying an additional 210 shares during the period. Atomi Financial Group Inc. increased its position in Southern Copper by 1.5% during the 4th quarter. Atomi Financial Group Inc. now owns 9,509 shares of the basic materials company's stock worth $867,000 after buying an additional 145 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Southern Copper by 0.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 24,426 shares of the basic materials company's stock worth $2,226,000 after buying an additional 144 shares during the period. Institutional investors and hedge funds own 7.94% of the company's stock.

Analyst Upgrades and Downgrades

SCCO has been the topic of several recent research reports. Scotiabank increased their price objective on Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a research report on Monday, March 10th. Wall Street Zen cut Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday. Hsbc Global Res upgraded Southern Copper from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price target on Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, UBS Group decreased their price target on Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $91.50.

Southern Copper Trading Up 2.2%

NYSE SCCO traded up $2.02 on Friday, hitting $92.44. The company's stock had a trading volume of 1,072,071 shares, compared to its average volume of 1,196,773. Southern Copper Co. has a 52-week low of $74.11 and a 52-week high of $119.97. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The company's 50-day simple moving average is $90.25 and its 200 day simple moving average is $94.12. The firm has a market cap of $73.60 billion, a P/E ratio of 21.40, a PEG 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 earnings per share for the quarter, topping 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 business had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.05 billion. Research analysts predict that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Announces Dividend

The firm also recently disclosed a dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were issued 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 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.