Voloridge Investment Management LLC Has $38.21 Million Holdings in Southern Copper Co. (NYSE:SCCO)

Voloridge Investment Management LLC lifted its position in Southern Copper Co. (NYSE:SCCO - Free Report) by 15.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 419,240 shares of the basic materials company's stock after acquiring an additional 55,146 shares during the quarter. Voloridge Investment Management LLC owned 0.05% of Southern Copper worth $38,205,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SCCO. Whittier Trust Co. of Nevada Inc. acquired a new position in Southern Copper during the 4th quarter valued at approximately $30,000. Deseret Mutual Benefit Administrators boosted its position in Southern Copper by 210.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 257 shares during the period. IFP Advisors Inc raised its stake in Southern Copper by 143.4% during the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock valued at $43,000 after acquiring an additional 281 shares in the last quarter. Spire Wealth Management bought a new stake in Southern Copper during the 4th quarter valued at $47,000. Finally, Larson Financial Group LLC raised its stake 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 valued at $48,000 after acquiring an additional 114 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Southern Copper Price Performance

Shares of SCCO traded up $0.76 during midday trading on Tuesday, reaching $93.10. The stock had a trading volume of 402,164 shares, compared to its average volume of 1,193,660. Southern Copper Co. has a 52 week low of $74.11 and a 52 week high of $119.97. 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 firm's 50 day moving average price is $90.11 and its 200-day moving average price is $93.89. The company has a market capitalization of $74.12 billion, a P/E ratio of 21.55, a P/E/G ratio of 1.90 and a beta of 1.05.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its earnings results on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, beating the consensus estimate 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 forecast that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. UBS Group cut their target price on Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. Wall Street Zen downgraded Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. cut their target price on Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Scotiabank lifted their target price on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research note on Monday, March 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Southern Copper currently has a consensus rating of "Hold" and an average target price of $91.50.

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.