39,809 Shares in Southern Copper Co. (NYSE:SCCO) Purchased by PDT Partners LLC

PDT Partners LLC bought a new position in Southern Copper Co. (NYSE:SCCO - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 39,809 shares of the basic materials company's stock, valued at approximately $3,628,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Morse Asset Management Inc purchased a new position in Southern Copper during the 3rd quarter valued at about $1,397,000. Tidal Investments LLC raised its stake in Southern Copper by 30.8% in the third quarter. Tidal Investments LLC now owns 71,376 shares of the basic materials company's stock worth $8,256,000 after buying an additional 16,805 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Southern Copper by 27.7% during the third quarter. Franklin Resources Inc. now owns 108,633 shares of the basic materials company's stock worth $12,772,000 after buying an additional 23,539 shares during the period. Principal Financial Group Inc. boosted its position in Southern Copper by 33.7% during the 3rd quarter. Principal Financial Group Inc. now owns 9,693 shares of the basic materials company's stock valued at $1,121,000 after acquiring an additional 2,442 shares in the last quarter. Finally, Independent Solutions Wealth Management LLC increased its holdings in shares of Southern Copper by 2.1% in the 3rd quarter. Independent Solutions Wealth Management LLC now owns 22,767 shares of the basic materials company's stock valued at $2,633,000 after acquiring an additional 474 shares during the period. Institutional investors own 7.94% of the company's stock.

Analysts Set New Price Targets

SCCO has been the subject of a number of analyst reports. Hsbc Global Res upgraded Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. StockNews.com cut shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Monday. JPMorgan Chase & Co. reduced their price target on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research report on Monday, April 14th. UBS Group cut their price objective on Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Scotiabank boosted 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. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $91.50.

Southern Copper Stock Performance

Shares of SCCO stock traded up $0.30 during mid-day trading on Thursday, hitting $89.82. The stock had a trading volume of 1,193,071 shares, compared to its average volume of 1,221,050. Southern Copper Co. has a fifty-two week low of $74.11 and a fifty-two week high of $126.09. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The company's 50-day simple moving average is $90.45 and its 200-day simple moving average is $96.67. The firm has a market cap of $71.51 billion, a PE ratio of 20.79, a PEG ratio of 1.90 and a beta of 1.04.

Southern Copper (NYSE:SCCO - Get Free Report) last released its quarterly earnings data 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. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. The firm had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.05 billion. Sell-side analysts anticipate that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Dividend Announcement

The business also recently announced a dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, May 2nd. This represents a yield of 2.98%. Southern Copper's 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.