Sherbrooke Park Advisers LLC Increases Position in Southern Copper Co. (NYSE:SCCO)

Sherbrooke Park Advisers LLC boosted its holdings in Southern Copper Co. (NYSE:SCCO - Free Report) by 105.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,566 shares of the basic materials company's stock after buying an additional 3,370 shares during the period. Sherbrooke Park Advisers LLC's holdings in Southern Copper were worth $598,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of SCCO. Norges Bank purchased a new stake in Southern Copper in the 4th quarter worth $52,738,000. Renaissance Technologies LLC increased its stake in 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 worth $37,173,000 after buying an additional 381,035 shares in the last quarter. Northern Trust Corp increased its stake in Southern Copper by 44.9% in the 4th quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company's stock worth $104,484,000 after buying an additional 355,013 shares in the last quarter. Marshall Wace LLP increased its stake in Southern Copper by 49.6% in 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 in the last quarter. Finally, Driehaus Capital Management LLC increased its stake in Southern Copper by 26.8% in 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 buying an additional 217,546 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.

Analyst Upgrades and Downgrades

SCCO has been the subject of a number of analyst reports. StockNews.com lowered Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday. JPMorgan Chase & Co. cut their price objective on Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research report on Monday, April 14th. Scotiabank raised their price objective on Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research report on Monday, March 10th. Hsbc Global Res upgraded Southern Copper from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 24th. Finally, 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 report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Southern Copper has an average rating of "Hold" and an average target price of $91.50.

Southern Copper Trading Down 0.1%

SCCO traded down $0.05 on Tuesday, hitting $91.58. The company had a trading volume of 779,324 shares, compared to its average volume of 1,203,509. The company has a market cap of $72.91 billion, a PE ratio of 21.20, a PEG ratio of 1.90 and a beta of 1.05. Southern Copper Co. has a 12-month low of $74.11 and a 12-month high of $125.60. 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 business's fifty day simple moving average is $90.65 and its 200 day simple moving average is $94.57.

Southern Copper (NYSE:SCCO - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.05 by $0.14. The company 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%. Equities research analysts expect that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Dividend Announcement

The business also recently declared a dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were given a $0.70 dividend. The ex-dividend date was Friday, May 2nd. This represents a yield of 2.98%. Southern Copper's dividend 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.