Novem Group boosted its stake in Southern Copper Corporation (NYSE:SCCO - Free Report) by 34.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,758 shares of the basic materials company's stock after acquiring an additional 2,754 shares during the quarter. Novem Group's holdings in Southern Copper were worth $1,005,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Golden State Wealth Management LLC bought a new stake in Southern Copper during the 1st quarter worth about $29,000. Whittier Trust Co. of Nevada Inc. bought a new stake in Southern Copper during the 4th quarter worth about $30,000. IFP Advisors Inc lifted its position in Southern Copper by 143.4% during the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock worth $43,000 after buying an additional 281 shares in the last quarter. Larson Financial Group LLC lifted its position in Southern Copper by 28.0% during the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock worth $48,000 after buying an additional 114 shares in the last quarter. Finally, Lee Danner & Bass Inc. bought a new stake in Southern Copper during the 4th quarter worth about $60,000. 7.94% of the stock is owned by institutional investors.
Southern Copper Stock Performance
Southern Copper stock traded down $0.42 during trading hours on Friday, hitting $105.67. The company had a trading volume of 718,128 shares, compared to its average volume of 1,220,434. The firm has a market cap of $84.13 billion, a PE ratio of 23.12, a PEG ratio of 2.37 and a beta of 1.02. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.71 and a quick ratio of 3.22. Southern Copper Corporation has a one year low of $74.11 and a one year high of $118.64. The firm has a 50-day moving average of $94.48 and a 200 day moving average of $93.17.
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 (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 firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.05 billion. On average, sell-side analysts expect that Southern Copper Corporation will post 4.66 earnings per share for the current year.
Southern Copper Announces Dividend
The company also recently declared 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. This represents a dividend yield of 2.98%. The ex-dividend date of this dividend was Friday, May 2nd. Southern Copper's dividend payout ratio (DPR) is presently 61.27%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Scotiabank boosted their price target 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. lowered their price objective on shares of Southern Copper from $83.50 to $79.00 and set a "neutral" rating on the stock in a research note on Thursday. Hsbc Global Res upgraded shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. Itau BBA Securities upgraded shares of Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. Finally, UBS Group lowered shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price objective on the stock. in a research note on Tuesday. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, Southern Copper presently has a consensus rating of "Hold" and an average price target of $91.60.
Get Our Latest Analysis on Southern Copper
Southern Copper Profile
(
Free Report)
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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