Tidal Investments LLC Trims Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Tidal Investments LLC cut its holdings in Southern Copper Co. (NYSE:SCCO - Free Report) by 16.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,867 shares of the basic materials company's stock after selling 11,509 shares during the period. Tidal Investments LLC's holdings in Southern Copper were worth $5,456,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Southern Copper during the fourth quarter valued at approximately $52,738,000. Renaissance Technologies LLC boosted its position in Southern Copper by 1,417.7% in the 4th quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company's stock valued at $37,173,000 after buying an additional 381,035 shares during the period. Northern Trust Corp boosted its position in Southern Copper by 44.9% in the 4th quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company's stock valued at $104,484,000 after buying an additional 355,013 shares during the period. Marshall Wace LLP boosted its position in Southern Copper by 49.6% in the 4th quarter. Marshall Wace LLP now owns 998,923 shares of the basic materials company's stock valued at $91,032,000 after buying an additional 331,319 shares during the period. Finally, Driehaus Capital Management LLC boosted its position in Southern Copper by 26.8% in the 4th quarter. Driehaus Capital Management LLC now owns 1,028,848 shares of the basic materials company's stock valued at $93,759,000 after buying an additional 217,546 shares during the period. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Up 2.2%

Shares of SCCO traded up $2.02 during mid-day trading on Friday, hitting $92.44. The company's stock had a trading volume of 1,072,071 shares, compared to its average volume of 1,195,513. The company's 50-day moving average is $90.25 and its 200-day moving average is $94.23. Southern Copper Co. has a 52-week low of $74.11 and a 52-week high of $119.97. The firm has a market capitalization of $73.60 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 1.90 and a beta of 1.05. 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 announced its earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.14. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.05 billion. On average, equities research analysts forecast that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, May 2nd. This represents a dividend yield of 2.98%. Southern Copper's dividend payout ratio is presently 61.27%.

Analyst Ratings Changes

Several research firms have issued reports on SCCO. Wall Street Zen cut shares of Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday. Scotiabank boosted their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research report on Monday, March 10th. UBS Group lowered their price objective on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price target on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, 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. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus 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.