Inceptionr LLC Raises Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Inceptionr LLC boosted its holdings in Southern Copper Co. (NYSE:SCCO) by 150.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,970 shares of the basic materials company’s stock after buying an additional 8,390 shares during the quarter. Inceptionr LLC’s holdings in Southern Copper were worth $1,273,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. M&T Bank Corp raised its position in Southern Copper by 0.5% in the 3rd quarter. M&T Bank Corp now owns 20,460 shares of the basic materials company’s stock worth $2,367,000 after buying an additional 105 shares during the last quarter. Tyche Wealth Partners LLC increased its position in shares of Southern Copper by 0.6% during the 4th quarter. Tyche Wealth Partners LLC now owns 19,807 shares of the basic materials company’s stock valued at $1,805,000 after purchasing an additional 122 shares during the last quarter. Yousif Capital Management LLC increased its position in shares of Southern Copper by 0.9% during the 4th quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company’s stock valued at $1,311,000 after purchasing an additional 122 shares during the last quarter. HMS Capital Management LLC increased its position in shares of Southern Copper by 5.8% during the 3rd quarter. HMS Capital Management LLC now owns 2,388 shares of the basic materials company’s stock valued at $276,000 after purchasing an additional 131 shares during the last quarter. Finally, 180 Wealth Advisors LLC increased its position in shares of Southern Copper by 3.6% during the 4th quarter. 180 Wealth Advisors LLC now owns 4,062 shares of the basic materials company’s stock valued at $370,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Up 5.1 %

Southern Copper stock opened at $90.30 on Thursday. The firm has a 50 day moving average of $93.95 and a 200 day moving average of $101.28. The firm has a market capitalization of $70.93 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a 12-month low of $81.12 and a 12-month high of $129.79. 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) last posted its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. As a group, research analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.10%. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, February 11th. Southern Copper’s dividend payout ratio is presently 64.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a research report on Monday, December 2nd. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $94.81.

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.