Southern Copper Co. (NYSE:SCCO) Shares Purchased by Two Sigma Investments LP

Two Sigma Investments LP lifted its position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 30.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 307,868 shares of the basic materials company's stock after buying an additional 72,259 shares during the period. Two Sigma Investments LP's holdings in Southern Copper were worth $28,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in SCCO. Whittier Trust Co. of Nevada Inc. purchased a new position in Southern Copper in the fourth quarter valued at $30,000. Deseret Mutual Benefit Administrators increased its position in shares of Southern Copper by 210.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock worth $35,000 after purchasing an additional 257 shares in the last quarter. IFP Advisors Inc increased its position in shares of Southern Copper by 143.4% during the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock worth $43,000 after purchasing an additional 281 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of Southern Copper during the fourth quarter worth about $47,000. Finally, Larson Financial Group LLC increased its position in shares of Southern Copper by 28.0% during the fourth quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock worth $48,000 after purchasing an additional 114 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SCCO. Hsbc Global Res upgraded Southern Copper from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 24th. Scotiabank boosted their price target on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research report on Monday, March 10th. JPMorgan Chase & Co. dropped their price target on Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a research report on Monday, April 14th. UBS Group lowered their price objective on Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, Wall Street Zen lowered Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $91.50.

Southern Copper Trading Up 1.0%

SCCO traded up $0.94 during trading on Tuesday, hitting $93.28. The company's stock had a trading volume of 372,653 shares, compared to its average volume of 1,375,812. The firm's 50 day moving average price is $90.11 and its 200-day moving average price is $93.89. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The stock has a market cap of $74.26 billion, a PE ratio of 21.59, a PEG ratio of 1.90 and a beta of 1.05. Southern Copper Co. has a twelve month low of $74.84 and a twelve month high of $123.49.

Southern Copper (NYSE:SCCO - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.05 billion. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. On average, analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Announces Dividend

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

About Southern Copper

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.