Southern Copper Co. (NYSE:SCCO) Shares Acquired by Man Group plc

Man Group plc lifted its holdings in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 82.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,329 shares of the basic materials company's stock after purchasing an additional 22,750 shares during the quarter. Man Group plc's holdings in Southern Copper were worth $4,586,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SCCO. Capital World Investors boosted its stake in Southern Copper by 0.6% during the fourth quarter. Capital World Investors now owns 4,232,245 shares of the basic materials company's stock worth $385,684,000 after buying an additional 24,787 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Southern Copper by 0.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,700,844 shares of the basic materials company's stock worth $337,260,000 after acquiring an additional 15,037 shares during the last quarter. abrdn plc boosted its position in shares of Southern Copper by 4.4% during the 4th quarter. abrdn plc now owns 2,849,638 shares of the basic materials company's stock worth $260,428,000 after purchasing an additional 118,909 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Southern Copper by 10.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,354,637 shares of the basic materials company's stock worth $123,448,000 after purchasing an additional 130,710 shares during the period. Finally, FIL Ltd increased its holdings in Southern Copper by 0.3% in the 4th quarter. FIL Ltd now owns 1,171,227 shares of the basic materials company's stock valued at $106,734,000 after purchasing an additional 3,045 shares during the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Trading Down 0.7%

NYSE:SCCO opened at $90.99 on Thursday. The firm has a market cap of $72.44 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05. The stock has a fifty day moving average price of $90.53 and a 200 day moving average price of $94.52. Southern Copper Co. has a 12-month low of $74.11 and a 12-month 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 posted its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.05 billion. Sell-side analysts anticipate that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were paid a $0.70 dividend. The ex-dividend date was Friday, May 2nd. This represents a yield of 2.98%. Southern Copper's dividend payout ratio is currently 61.27%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SCCO shares. Scotiabank upped their price target on Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a research note on Monday, March 10th. Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. UBS Group dropped their target price 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. StockNews.com lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research note on Monday, April 14th. 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 has an average rating of "Hold" and an average target price 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.

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