MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Holdings in Southern Copper Co. (NYSE:SCCO)

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

A number of other large investors have also recently bought and sold shares of SCCO. Whittier Trust Co. of Nevada Inc. purchased a new stake in Southern Copper in the 4th quarter worth approximately $30,000. Deseret Mutual Benefit Administrators lifted its position in shares of 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 buying an additional 257 shares in the last quarter. IFP Advisors Inc lifted its position in shares of 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 buying an additional 281 shares in the last quarter. Spire Wealth Management purchased a new position in shares of Southern Copper during the 4th quarter valued at approximately $47,000. Finally, Larson Financial Group LLC lifted its position in shares of 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 buying an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SCCO shares. Scotiabank increased their price objective 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. StockNews.com cut Southern Copper from a "buy" rating to a "hold" rating in a research note on Monday, April 28th. JPMorgan Chase & Co. dropped their target price on Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a report on Monday, April 14th. UBS Group decreased their target price on Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Finally, Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $91.50.

Southern Copper Stock Up 1.4%

Shares of NYSE SCCO opened at $89.34 on Monday. The business's fifty day moving average price is $90.37 and its 200-day moving average price is $95.43. Southern Copper Co. has a one year low of $74.11 and a one year high of $126.09. The stock has a market capitalization of $71.13 billion, a PE ratio of 20.68, 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 posted its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.14. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.05 billion. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. On average, equities research analysts anticipate that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Announces Dividend

The company also recently disclosed a dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be issued 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%.

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.

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