Man Group plc Purchases 22,750 Shares of Southern Copper Co. (NYSE:SCCO)

Man Group plc lifted its holdings in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 82.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,329 shares of the basic materials company's stock after buying an additional 22,750 shares during the period. Man Group plc's holdings in Southern Copper were worth $4,586,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC boosted its position in Southern Copper by 28.0% in the fourth quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock worth $48,000 after purchasing an additional 114 shares during the last quarter. Cadence Wealth Management LLC boosted its position in Southern Copper by 4.1% in the fourth quarter. Cadence Wealth Management LLC now owns 2,919 shares of the basic materials company's stock worth $266,000 after purchasing an additional 116 shares during the last quarter. Tyche Wealth Partners LLC boosted its position in Southern Copper by 0.6% in the fourth quarter. Tyche Wealth Partners LLC now owns 19,807 shares of the basic materials company's stock worth $1,805,000 after purchasing an additional 122 shares during the last quarter. Yousif Capital Management LLC boosted its position in Southern Copper by 0.9% in the fourth quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company's stock worth $1,311,000 after purchasing an additional 122 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Southern Copper by 1.7% in the fourth quarter. Signaturefd LLC now owns 8,043 shares of the basic materials company's stock worth $733,000 after purchasing an additional 133 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Price Performance

SCCO traded up $0.74 on Tuesday, hitting $93.08. 1,021,364 shares of the company's stock traded hands, compared to its average volume of 1,196,073. The company's 50 day simple moving average is $89.99 and its 200-day simple moving average is $93.88. The firm has a market cap of $74.11 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 1.90 and a beta of 1.05. Southern Copper Co. has a one year low of $74.11 and a one year 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.

Southern Copper (NYSE:SCCO - Get Free Report) last issued its earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.14. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.05 billion. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. As a group, research analysts anticipate that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Dividend Announcement

The company also recently disclosed 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 was Friday, May 2nd. Southern Copper's payout ratio is 61.27%.

Analyst Ratings Changes

SCCO has been the topic of several research reports. Scotiabank raised their target price 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. JPMorgan Chase & Co. dropped their target price 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. Wall Street Zen downgraded Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. Finally, UBS Group decreased their price objective on Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $91.50.

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.