QRG Capital Management Inc. Buys Shares of 2,811 Southern Copper Corporation (NYSE:SCCO)

QRG Capital Management Inc. purchased a new position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,811 shares of the basic materials company's stock, valued at approximately $263,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCCO. Raymond James Financial Inc. acquired a new stake in Southern Copper during the 4th quarter worth $8,420,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Southern Copper by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,437 shares of the basic materials company's stock worth $21,638,000 after acquiring an additional 4,889 shares in the last quarter. Bearing Point Capital LLC acquired a new stake in shares of Southern Copper during the fourth quarter worth about $257,000. Jump Financial LLC raised its position in shares of Southern Copper by 48.3% during the fourth quarter. Jump Financial LLC now owns 23,353 shares of the basic materials company's stock worth $2,128,000 after purchasing an additional 7,607 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Southern Copper by 6.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 187,970 shares of the basic materials company's stock valued at $17,568,000 after purchasing an additional 11,052 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. UBS Group decreased their price objective on Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Itau BBA Securities upgraded shares of Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. Scotiabank increased 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. JPMorgan Chase & Co. dropped their price objective on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Wall Street Zen lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Southern Copper has a consensus rating of "Hold" and a consensus target price of $91.50.

Southern Copper Trading Up 1.3%

NYSE:SCCO opened at $94.70 on Tuesday. The company has a market cap of $75.40 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 2.25 and a beta of 1.01. Southern Copper Corporation has a twelve month low of $74.11 and a twelve month high of $118.64. The business has a 50 day moving average price of $92.12 and a two-hundred day moving average price of $92.97. The company has a quick ratio of 3.22, a current ratio of 3.71 and a debt-to-equity ratio of 0.70.

Southern Copper (NYSE:SCCO - Get Free Report) last announced 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 30.00% and a return on equity of 39.39%. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.05 billion. As a group, analysts expect that Southern Copper Corporation will post 4.66 EPS for the current fiscal year.

Southern Copper Dividend Announcement

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

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.

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