Point72 Hong Kong Ltd bought a new stake in Southern Copper Co. (NYSE:SCCO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 27,804 shares of the basic materials company's stock, valued at approximately $2,534,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted its position in Southern Copper by 22.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 137,019 shares of the basic materials company's stock valued at $12,487,000 after buying an additional 24,933 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Southern Copper in the fourth quarter valued at approximately $8,420,000. Charles Schwab Investment Management Inc. boosted its position in Southern Copper by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,437 shares of the basic materials company's stock valued at $21,638,000 after buying an additional 4,889 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in Southern Copper in the fourth quarter valued at approximately $308,000. Finally, Vantage Investment Partners LLC boosted its position in Southern Copper by 21.8% in the fourth quarter. Vantage Investment Partners LLC now owns 139,554 shares of the basic materials company's stock valued at $12,718,000 after buying an additional 24,987 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. Hsbc Global Res upgraded shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. dropped their target price on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating on the stock in a report on Monday, April 14th. Scotiabank boosted their target price on shares of Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a report on Monday, March 10th. UBS Group dropped their target price on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, StockNews.com lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Southern Copper presently has an average rating of "Hold" and an average price target of $91.50.
Get Our Latest Stock Report on Southern Copper
Southern Copper Stock Up 0.2%
SCCO stock traded up $0.17 during trading on Wednesday, reaching $91.84. 289,853 shares of the stock were exchanged, compared to its average volume of 1,387,663. The firm's 50 day moving average is $90.63 and its 200 day moving average is $94.55. Southern Copper Co. has a twelve month low of $74.84 and a twelve month high of $123.49. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The firm has a market cap of $73.12 billion, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05.
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 for the quarter, topping 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 for the quarter, compared to the consensus estimate of $3.05 billion. As a group, research analysts forecast that Southern Copper Co. will post 4.66 EPS for the current year.
Southern Copper Announces Dividend
The company also recently declared a dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were paid a dividend of $0.70 per share. This represents a yield of 2.98%. The ex-dividend date was Friday, May 2nd. Southern Copper's dividend payout ratio (DPR) is currently 61.27%.
About Southern Copper
(
Free Report)
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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