GAMMA Investing LLC Has $7.91 Million Holdings in Southern Copper Co. (NYSE:SCCO)

GAMMA Investing LLC boosted its holdings in Southern Copper Co. (NYSE:SCCO - Free Report) by 12,538.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,675 shares of the basic materials company's stock after buying an additional 84,005 shares during the period. GAMMA Investing LLC's holdings in Southern Copper were worth $7,914,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Southern Copper during the fourth quarter valued at approximately $52,738,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Southern Copper in the 4th quarter valued at $40,226,000. Renaissance Technologies LLC lifted its holdings in shares of Southern Copper by 1,417.7% during the 4th quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company's stock worth $37,173,000 after acquiring an additional 381,035 shares during the period. Northern Trust Corp lifted its holdings in shares of Southern Copper by 44.9% during the 4th quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company's stock worth $104,484,000 after acquiring an additional 355,013 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of Southern Copper by 49.6% during the 4th quarter. Marshall Wace LLP now owns 998,923 shares of the basic materials company's stock valued at $91,032,000 after acquiring an additional 331,319 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Price Performance

Shares of SCCO traded down $0.19 during mid-day trading on Thursday, hitting $95.87. 1,283,303 shares of the company traded hands, compared to its average volume of 1,181,932. The stock has a market capitalization of $76.33 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 1.90 and a beta of 1.01. Southern Copper Co. has a one year low of $74.11 and a one year high of $118.64. The business has a 50-day moving average of $89.96 and a 200 day moving average of $93.37. 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 released its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.14. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.05 billion. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. As a group, equities analysts expect that Southern Copper Co. will post 4.66 earnings per share 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 issued a $0.70 dividend. The ex-dividend date was Friday, May 2nd. This represents a dividend yield of 2.98%. Southern Copper's dividend payout ratio (DPR) is currently 61.27%.

Wall Street Analysts Forecast Growth

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