Brevan Howard Capital Management LP Trims Holdings in Southern Copper Co. (NYSE:SCCO)

Brevan Howard Capital Management LP decreased its holdings in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 60.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,276 shares of the basic materials company's stock after selling 9,519 shares during the quarter. Brevan Howard Capital Management LP's holdings in Southern Copper were worth $572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Southern Copper during the fourth quarter valued at about $30,000. Deseret Mutual Benefit Administrators increased its position in shares of Southern Copper by 210.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company's stock valued at $35,000 after acquiring an additional 257 shares in the last quarter. IFP Advisors Inc grew its position in Southern Copper by 143.4% during the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company's stock valued at $43,000 after buying an additional 281 shares during the period. Spire Wealth Management bought a new position in Southern Copper in the 4th quarter worth $47,000. Finally, Larson Financial Group LLC raised its stake in shares of Southern Copper by 28.0% in the fourth quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company's stock worth $48,000 after buying an additional 114 shares during the period. Institutional investors own 7.94% of the company's stock.

Southern Copper Price Performance

Shares of NYSE SCCO traded up $1.06 during trading on Tuesday, hitting $93.32. The company had a trading volume of 768,107 shares, compared to its average volume of 1,213,633. The stock has a fifty day simple moving average of $90.41 and a two-hundred day simple moving average of $95.26. Southern Copper Co. has a fifty-two week low of $74.11 and a fifty-two week high of $126.09. The firm has a market capitalization of $74.30 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64.

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. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.05 billion. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. On average, research 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 declared a dividend, which will be paid on Monday, May 19th. Investors 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 presently 61.27%.

Analyst Upgrades and Downgrades

Several research analysts have commented on SCCO shares. StockNews.com raised shares of Southern Copper from a "hold" rating to a "buy" rating in a report on Monday. JPMorgan Chase & Co. decreased their target price 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 decreased their target price on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Scotiabank increased their target price on shares of Southern Copper from $52.00 to $72.00 and gave the company a "sector underperform" rating in a research report on Monday, March 10th. Finally, Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $91.50.

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.