UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Southern Copper Co. (NYSE:SCCO - Free Report) by 6.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,280,286 shares of the basic materials company's stock after acquiring an additional 78,769 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.16% of Southern Copper worth $116,672,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SCCO. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Southern Copper during the fourth quarter valued at $30,000. Deseret Mutual Benefit Administrators increased its holdings 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 valued at $35,000 after acquiring an additional 257 shares in the last quarter. IFP Advisors Inc increased its holdings in Southern Copper by 143.4% in 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. Spire Wealth Management bought a new stake in Southern Copper in the 4th quarter worth about $47,000. Finally, Larson Financial Group LLC increased its holdings in Southern Copper by 28.0% in 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. Hedge funds and other institutional investors own 7.94% of the company's stock.
Southern Copper Stock Up 0.6%
NYSE SCCO traded up $0.52 during trading on Thursday, reaching $92.26. 265,701 shares of the company's stock were exchanged, compared to its average volume of 1,364,621. The stock has a market cap of $73.45 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The company has a 50 day moving average price of $89.80 and a two-hundred day moving average price of $93.87. Southern Copper Co. has a 1 year low of $74.84 and a 1 year high of $121.71.
Southern Copper (NYSE:SCCO - Get Free Report) last released its earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.14. The company had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.05 billion. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. On average, equities research analysts anticipate that Southern Copper Co. will post 4.66 EPS 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 paid a dividend of $0.70 per share. This represents a dividend yield of 2.98%. The ex-dividend date was Friday, May 2nd. Southern Copper's dividend payout ratio is presently 61.27%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the company. Wall Street Zen downgraded Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Scotiabank upped their price objective 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. UBS Group lowered their target price on Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Hsbc Global Res upgraded Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. dropped their target price on Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $91.50.
Read Our Latest Stock Report 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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