Brevan Howard Capital Management LP decreased its holdings in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 60.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,276 shares of the basic materials company's stock after selling 9,519 shares during the period. Brevan Howard Capital Management LP's holdings in Southern Copper were worth $572,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Nordea Investment Management AB increased its position in Southern Copper by 15.3% during the 4th quarter. Nordea Investment Management AB now owns 108,753 shares of the basic materials company's stock worth $9,969,000 after purchasing an additional 14,391 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Southern Copper by 22.2% during the 4th 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 during the period. Raymond James Financial Inc. acquired a new position in shares of Southern Copper in the 4th quarter valued at approximately $8,420,000. Charles Schwab Investment Management Inc. raised its position in shares of Southern Copper by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 237,437 shares of the basic materials company's stock valued at $21,638,000 after purchasing an additional 4,889 shares in the last quarter. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Southern Copper in the 4th quarter valued at approximately $308,000. 7.94% of the stock is owned by hedge funds and other institutional investors.
Southern Copper Price Performance
SCCO stock traded down $1.00 during trading on Thursday, hitting $92.40. The company had a trading volume of 405,696 shares, compared to its average volume of 1,207,817. The company has a fifty day moving average price of $90.51 and a two-hundred day moving average price of $95.24. 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 market cap of $73.57 billion, a P/E ratio of 21.36, a P/E/G ratio of 1.90 and a beta of 1.05. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64.
Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.14. The firm had revenue of $3.12 billion for the quarter, compared to analysts' expectations 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 earnings per share for the current fiscal year.
Southern Copper Dividend Announcement
The company also recently declared a dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be paid a dividend of $0.70 per share. This represents a dividend yield of 2.98%. The ex-dividend date is Friday, May 2nd. Southern Copper's dividend payout ratio (DPR) is presently 61.27%.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. StockNews.com upgraded Southern Copper from a "hold" rating to a "buy" rating in a research note on Monday. Scotiabank upped their target price 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 raised Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. UBS Group lowered their price objective on Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, 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 report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $91.50.
Read Our Latest Stock Report on Southern Copper
Southern Copper Profile
(
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.
Featured Articles
Before you consider Southern Copper, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Southern Copper wasn't on the list.
While Southern Copper currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
