Polianta Ltd bought a new position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 13,200 shares of the basic materials company's stock, valued at approximately $1,233,000. Southern Copper accounts for approximately 0.6% of Polianta Ltd's holdings, making the stock its 23rd biggest holding.
Several other institutional investors also recently modified their holdings of SCCO. Yousif Capital Management LLC grew its position in shares of Southern Copper by 0.9% in the 4th quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company's stock valued at $1,311,000 after purchasing an additional 122 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Southern Copper by 0.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 226,171 shares of the basic materials company's stock worth $20,611,000 after purchasing an additional 1,064 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Southern Copper by 9.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,876 shares of the basic materials company's stock worth $353,000 after acquiring an additional 338 shares in the last quarter. Empowered Funds LLC increased its position in shares of Southern Copper by 44.3% during the fourth quarter. Empowered Funds LLC now owns 5,685 shares of the basic materials company's stock worth $518,000 after acquiring an additional 1,744 shares in the last quarter. Finally, Savant Capital LLC bought a new stake in shares of Southern Copper during the fourth quarter worth $226,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. UBS Group lowered their target price 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 downgraded Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Itau BBA Securities raised shares of Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 24th. Finally, Scotiabank raised their price target on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $91.50.
Check Out Our Latest Research Report on Southern Copper
Southern Copper Stock Performance
Southern Copper stock traded up $1.62 during midday trading on Monday, reaching $96.38. 1,130,967 shares of the company's stock were exchanged, compared to its average volume of 1,178,434. Southern Copper Co. has a 52 week low of $74.11 and a 52 week high of $118.64. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The firm has a market cap of $76.74 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 1.90 and a beta of 1.01. The stock's 50-day simple moving average is $91.10 and its 200 day simple moving average is $93.18.
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, topping analysts' consensus estimates of $1.05 by $0.14. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. The firm had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.05 billion. On average, analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.
Southern Copper Dividend Announcement
The business also recently announced 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. This represents a dividend yield of 2.98%. The ex-dividend date was Friday, May 2nd. Southern Copper's payout ratio is 61.27%.
Southern Copper Profile
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Free Report)
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.
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