Vontobel Holding Ltd. reduced its stake in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 56.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,765 shares of the basic materials company's stock after selling 6,199 shares during the period. Vontobel Holding Ltd.'s holdings in Southern Copper were worth $445,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC raised its holdings 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 during the period. Cadence Wealth Management LLC increased its position in Southern Copper by 4.1% in the 4th quarter. Cadence Wealth Management LLC now owns 2,919 shares of the basic materials company's stock worth $266,000 after buying an additional 116 shares during the period. Signaturefd LLC grew its stake in shares of 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 acquiring an additional 133 shares during the last quarter. Balefire LLC raised its stake in shares of Southern Copper by 3.0% in the first quarter. Balefire LLC now owns 4,779 shares of the basic materials company's stock valued at $447,000 after purchasing an additional 141 shares in the last quarter. Finally, Centerstone Investors LLC raised its stake in shares of Southern Copper by 0.6% in the fourth quarter. Centerstone Investors LLC now owns 23,438 shares of the basic materials company's stock valued at $2,136,000 after purchasing an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.
Southern Copper Price Performance
SCCO stock traded down $0.66 during mid-day trading on Friday, hitting $101.60. 1,176,031 shares of the stock were exchanged, compared to its average volume of 1,248,813. Southern Copper Corporation has a 12 month low of $74.11 and a 12 month high of $118.64. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.71 and a quick ratio of 3.22. The business has a fifty day moving average price of $95.35 and a 200 day moving average price of $93.43. The stock has a market capitalization of $80.89 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 2.29 and a beta of 1.02.
Southern Copper (NYSE:SCCO - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.14. Southern Copper had a return on equity of 39.39% and a net margin of 30.00%. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.05 billion. On average, sell-side analysts anticipate that Southern Copper Corporation will post 4.66 EPS for the current year.
Southern Copper Dividend Announcement
The business 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 dividend yield of 2.98%. Southern Copper's payout ratio is currently 61.27%.
Analysts Set New Price Targets
Several analysts have recently commented on SCCO shares. Hsbc Global Res upgraded Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. dropped their target price on Southern Copper from $83.50 to $79.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. Itau BBA Securities upgraded Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. Wall Street Zen downgraded Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, UBS Group cut Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price objective for the company. in a report on Tuesday, July 1st. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $91.60.
View Our Latest Stock Analysis on Southern Copper
About Southern Copper
(
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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