FORA Capital LLC Invests $1.20 Million in Southern Copper Co. (NYSE:SCCO)

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

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Southern Copper in the fourth quarter worth about $52,738,000. Renaissance Technologies LLC boosted its position in Southern Copper by 1,417.7% during the fourth quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company's stock worth $37,173,000 after purchasing an additional 381,035 shares in the last quarter. Northern Trust Corp increased its position in shares of Southern Copper by 44.9% in 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 in the last quarter. Marshall Wace LLP increased its position in shares of Southern Copper by 49.6% in the fourth quarter. Marshall Wace LLP now owns 998,923 shares of the basic materials company's stock valued at $91,032,000 after buying an additional 331,319 shares in the last quarter. Finally, Driehaus Capital Management LLC raised its stake in shares of Southern Copper by 26.8% during the 4th quarter. Driehaus Capital Management LLC now owns 1,028,848 shares of the basic materials company's stock worth $93,759,000 after buying an additional 217,546 shares during the period. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Price Performance

NYSE SCCO traded up $1.06 during trading hours on Tuesday, hitting $93.32. 768,107 shares of the company's stock traded hands, compared to its average volume of 1,213,633. The company has a market capitalization of $74.30 billion, a PE ratio of 21.60, a PEG 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 Co. has a 52-week low of $74.11 and a 52-week high of $126.09. The firm's 50-day moving average is $90.41 and its 200-day moving average is $95.26.

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

Southern Copper Announces Dividend

The business also recently announced a dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be paid a $0.70 dividend. This represents a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, May 2nd. Southern Copper's dividend payout ratio (DPR) is presently 61.27%.

Analysts Set New Price Targets

Several equities research analysts recently commented on SCCO shares. UBS Group cut their price target on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Scotiabank upped their price target on shares of Southern Copper from $52.00 to $72.00 and gave the stock a "sector underperform" rating in a research report on Monday, March 10th. StockNews.com upgraded Southern Copper from a "hold" rating to a "buy" rating in a report on Monday. Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. decreased their target price 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. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $91.50.

Southern Copper 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.