Fisher Asset Management LLC Acquires 37,823 Shares of Southern Copper Co. (NYSE:SCCO)

Fisher Asset Management LLC raised its position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,348,385 shares of the basic materials company's stock after buying an additional 37,823 shares during the period. Fisher Asset Management LLC owned about 0.43% of Southern Copper worth $288,195,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SCCO. AE Wealth Management LLC bought a new position in shares of Southern Copper during the third quarter valued at $215,000. Commonwealth Equity Services LLC grew its holdings in shares of Southern Copper by 4.8% during the third quarter. Commonwealth Equity Services LLC now owns 22,268 shares of the basic materials company's stock valued at $1,677,000 after buying an additional 1,030 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of Southern Copper during the third quarter valued at approximately $202,000. Raymond James & Associates raised its holdings in Southern Copper by 24.6% in the 3rd quarter. Raymond James & Associates now owns 30,523 shares of the basic materials company's stock worth $2,298,000 after acquiring an additional 6,021 shares during the last quarter. Finally, Vantage Investment Partners LLC lifted its stake in Southern Copper by 5.5% during the 3rd quarter. Vantage Investment Partners LLC now owns 168,984 shares of the basic materials company's stock valued at $12,723,000 after acquiring an additional 8,883 shares during the period. Hedge funds and other institutional investors own 7.94% of the company's stock.

Southern Copper Stock Performance

Shares of NYSE SCCO traded up $2.37 during midday trading on Friday, reaching $115.39. 1,525,575 shares of the company were exchanged, compared to its average volume of 1,190,352. The stock has a fifty day simple moving average of $102.47 and a 200 day simple moving average of $86.74. The stock has a market cap of $89.21 billion, a P/E ratio of 37.96, a PEG ratio of 3.25 and a beta of 1.27. The company has a current ratio of 3.31, a quick ratio of 2.46 and a debt-to-equity ratio of 0.82. Southern Copper Co. has a 1 year low of $64.66 and a 1 year high of $121.00.

Southern Copper (NYSE:SCCO - Get Free Report) last released its earnings results on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.15). Southern Copper had a net margin of 24.20% and a return on equity of 30.44%. The firm had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.37 billion. On average, research analysts forecast that Southern Copper Co. will post 4.01 earnings per share for the current fiscal year.

Southern Copper Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th will be paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, May 7th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Southern Copper's dividend payout ratio (DPR) is 105.26%.

Analyst Ratings Changes

Several research firms recently weighed in on SCCO. Jefferies Financial Group upgraded Southern Copper from a "hold" rating to a "buy" rating and lifted their target price for the company from $91.00 to $130.00 in a research report on Friday, March 22nd. HSBC downgraded shares of Southern Copper from a "hold" rating to a "reduce" rating and set a $80.00 price target on the stock. in a research note on Monday, April 22nd. CICC Research assumed coverage on Southern Copper in a research note on Wednesday, April 24th. They set an "outperform" rating for the company. JPMorgan Chase & Co. cut their target price on Southern Copper from $63.50 to $61.00 and set an "underweight" rating on the stock in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group increased their price target on shares of Southern Copper from $61.00 to $82.00 and gave the company a "sell" rating in a research report on Friday, March 22nd. Five investment analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $85.57.

Insider Buying and Selling at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 300 shares of the business's stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $118.50, for a total transaction of $35,550.00. Following the sale, the director now owns 4,614 shares of the company's stock, valued at $546,759. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 600 shares of company stock worth $63,430 over the last quarter. 0.08% of the stock is owned by corporate insiders.

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.