FORA Capital LLC Acquires New Position in Southern Copper Co. (NYSE:SCCO)

FORA Capital LLC acquired a new position in Southern Copper Co. (NYSE:SCCO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,141 shares of the basic materials company's stock, valued at approximately $1,198,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors raised its stake in shares of Southern Copper by 0.6% during the fourth quarter. Capital World Investors now owns 4,232,245 shares of the basic materials company's stock worth $385,684,000 after acquiring an additional 24,787 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Southern Copper by 0.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,700,844 shares of the basic materials company's stock worth $337,260,000 after purchasing an additional 15,037 shares during the last quarter. abrdn plc boosted its position in Southern Copper by 4.4% during the fourth quarter. abrdn plc now owns 2,849,638 shares of the basic materials company's stock valued at $260,428,000 after buying an additional 118,909 shares during the period. FIL Ltd grew its stake in shares of Southern Copper by 0.3% during the fourth quarter. FIL Ltd now owns 1,171,227 shares of the basic materials company's stock valued at $106,734,000 after buying an additional 3,045 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Southern Copper by 44.9% during the fourth quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company's stock valued at $104,484,000 after buying an additional 355,013 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. 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 report on Tuesday, April 15th. Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. lowered their price target on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a report on Monday, April 14th. Scotiabank boosted 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. Finally, StockNews.com raised Southern Copper from a "hold" rating to a "buy" rating in a research note on Monday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Southern Copper currently has an average rating of "Hold" and a consensus target price of $91.50.

Southern Copper Stock Down 1.5%

SCCO traded down $1.37 during trading on Thursday, reaching $92.03. The stock had a trading volume of 475,466 shares, compared to its average volume of 1,208,100. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $73.28 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 1.90 and a beta of 1.05. The stock's 50 day moving average is $90.51 and its two-hundred day moving average is $95.24. Southern Copper Co. has a one year low of $74.11 and a one year high of $126.09.

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 for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.05 billion. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. As a group, analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Dividend Announcement

The business also recently declared a dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a dividend 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.