Novem Group Acquires New Holdings in Southern Copper Co. (NYSE:SCCO)

Novem Group purchased a new position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) in the fourth quarter, according to 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 large investors also recently made changes to their positions in SCCO. Whittier Trust Co. of Nevada Inc. bought a new position in Southern Copper during the 4th quarter valued at about $30,000. Deseret Mutual Benefit Administrators raised its position in shares of Southern Copper by 210.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock valued at $35,000 after buying an additional 257 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Southern Copper by 143.4% during the 4th 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 last quarter. Spire Wealth Management acquired a new position in shares of Southern Copper during the 4th quarter valued at $47,000. Finally, Larson Financial Group LLC raised its holdings in shares of Southern Copper by 28.0% in the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock worth $48,000 after acquiring an additional 114 shares during the last quarter. Institutional investors own 7.94% of the company's stock.

Southern Copper Stock Performance

SCCO stock traded up $0.65 during midday trading on Tuesday, hitting $92.99. 470,261 shares of the company traded hands, compared to its average volume of 1,193,913. Southern Copper Co. has a twelve month low of $74.11 and a twelve month high of $119.97. The stock has a market capitalization of $74.03 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05. The business has a 50 day simple moving average of $90.11 and a 200-day simple moving average of $93.89. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 earnings per share 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 company had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.05 billion. As a group, equities research analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Announces Dividend

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

Analyst Upgrades and Downgrades

SCCO has been the subject of several research analyst reports. Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. dropped their price target on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research report on Monday, April 14th. UBS Group lowered their price target on Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Wall Street Zen cut Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, Scotiabank increased their price objective 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 investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus 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.