Graham Capital Management L.P. Has $1.82 Million Holdings in Southern Copper Co. (NYSE:SCCO)

Graham Capital Management L.P. increased its position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 56.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,943 shares of the basic materials company's stock after purchasing an additional 7,216 shares during the quarter. Graham Capital Management L.P.'s holdings in Southern Copper were worth $1,817,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Southern Copper during the 4th quarter worth approximately $52,738,000. Renaissance Technologies LLC increased its position in shares of Southern Copper by 1,417.7% in the 4th quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company's stock valued at $37,173,000 after purchasing an additional 381,035 shares during the last quarter. Northern Trust Corp lifted its position in shares of Southern Copper by 44.9% during the 4th quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company's stock worth $104,484,000 after purchasing an additional 355,013 shares during the last quarter. Marshall Wace LLP lifted its holdings in Southern Copper by 49.6% during the 4th quarter. Marshall Wace LLP now owns 998,923 shares of the basic materials company's stock worth $91,032,000 after buying an additional 331,319 shares during the last quarter. Finally, Driehaus Capital Management LLC raised its position in shares of Southern Copper by 26.8% during the 4th quarter. Driehaus Capital Management LLC now owns 1,028,848 shares of the basic materials company's stock worth $93,759,000 after acquiring an additional 217,546 shares in the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research note on Monday, April 14th. Scotiabank raised their price target on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a report on Monday, March 10th. Hsbc Global Res upgraded shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 24th. StockNews.com upgraded Southern Copper from a "hold" rating to a "buy" rating in a report on Monday. Finally, UBS Group decreased 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 given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Southern Copper presently has a consensus rating of "Hold" and an average target price of $91.50.

Southern Copper Stock Performance

NYSE SCCO traded down $1.17 on Thursday, hitting $92.23. The stock had a trading volume of 1,000,266 shares, compared to its average volume of 1,210,117. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The company's 50-day moving average is $90.51 and its two-hundred day moving average is $95.24. The stock has a market cap of $73.43 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 1.90 and a beta of 1.05. Southern Copper Co. has a one year low of $74.11 and a one year high of $126.09.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.14. The business had revenue of $3.12 billion during 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, analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Dividend Announcement

The firm also recently announced a dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be paid 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 61.27%.

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.