Southern Copper Co. (NYSE:SCCO) Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Southern Copper Co. (NYSE:SCCO - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,354,637 shares of the basic materials company's stock after purchasing an additional 130,710 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.17% of Southern Copper worth $123,448,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Capital World Investors boosted its holdings in shares of Southern Copper by 0.6% in the 4th quarter. Capital World Investors now owns 4,232,245 shares of the basic materials company's stock valued at $385,684,000 after purchasing an additional 24,787 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Southern Copper by 0.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,700,844 shares of the basic materials company's stock valued at $337,260,000 after acquiring an additional 15,037 shares during the period. abrdn plc raised its stake in shares of Southern Copper by 4.4% in the 4th quarter. abrdn plc now owns 2,849,638 shares of the basic materials company's stock valued at $260,428,000 after acquiring an additional 118,909 shares during the period. FIL Ltd raised its stake in shares of Southern Copper by 0.3% in the 4th quarter. FIL Ltd now owns 1,171,227 shares of the basic materials company's stock valued at $106,734,000 after acquiring an additional 3,045 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Southern Copper by 44.9% in the 4th quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company's stock valued at $104,484,000 after acquiring an additional 355,013 shares during the period. Institutional investors and hedge funds own 7.94% of the company's stock.

Southern Copper Stock Down 1.6%

Shares of SCCO traded down $1.44 during midday trading on Friday, hitting $90.77. The company had a trading volume of 1,174,368 shares, compared to its average volume of 1,210,725. The company's 50 day moving average price is $90.63 and its 200 day moving average price is $94.92. The stock has a market cap of $72.27 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.90 and a beta of 1.05. Southern Copper Co. has a 52 week low of $74.11 and a 52 week high of $126.09. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64.

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 the consensus estimate of $1.05 by $0.14. The company had revenue of $3.12 billion during 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%. On average, equities research analysts predict that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Announces Dividend

The business also recently announced a dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be given 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 payout ratio is currently 61.27%.

Analyst Ratings Changes

A number of brokerages have recently commented on SCCO. JPMorgan Chase & Co. cut their target price on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Scotiabank raised their target price on shares of Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research note on Monday, March 10th. StockNews.com raised shares of Southern Copper from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. 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. Finally, UBS Group dropped their price target on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Two research 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, the stock presently has an average rating of "Hold" and a consensus price target 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.