Zurich Insurance Group Ltd FI Buys New Shares in Southern Copper Co. (NYSE:SCCO)

Zurich Insurance Group Ltd FI bought a new stake in Southern Copper Co. (NYSE:SCCO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 17,206 shares of the basic materials company's stock, valued at approximately $1,568,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SCCO. Whittier Trust Co. of Nevada Inc. bought a new position in Southern Copper in the 4th quarter valued at approximately $30,000. Deseret Mutual Benefit Administrators lifted its stake in shares of Southern Copper by 210.7% in the 4th 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 during the last quarter. IFP Advisors Inc lifted its stake in shares of Southern Copper by 143.4% in 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 during the last quarter. Spire Wealth Management acquired a new stake in shares of Southern Copper during the 4th quarter valued at $47,000. Finally, Larson Financial Group LLC grew 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 acquiring an additional 114 shares during the last quarter. Institutional investors own 7.94% of the company's stock.

Southern Copper Trading Up 2.2%

Shares of Southern Copper stock traded up $2.02 during midday trading on Monday, reaching $92.44. The company had a trading volume of 1,072,071 shares, compared to its average volume of 1,196,773. The stock has a fifty day moving average price of $90.25 and a 200 day moving average price of $93.99. Southern Copper Co. has a fifty-two week low of $74.11 and a fifty-two week high of $119.97. The firm has a market cap of $73.60 billion, a PE ratio of 21.40, a P/E/G ratio of 1.90 and a beta of 1.05. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31.

Southern Copper (NYSE:SCCO - Get Free Report) last issued its quarterly 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 29.53% and a return on equity of 40.27%. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.05 billion. On average, equities analysts anticipate that Southern Copper Co. 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. Shareholders of record on Monday, May 5th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a yield of 2.98%. Southern Copper's dividend payout ratio (DPR) is currently 61.27%.

Analyst Ratings Changes

SCCO has been the subject of several research reports. UBS Group dropped their target price on Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Scotiabank raised their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a report on Monday, March 10th. Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price target on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Wall Street Zen lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $91.50.

Southern Copper Company Profile

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.