SBI Securities Co. Ltd. Buys Shares of 3,435 Southern Copper Co. (NYSE:SCCO)

SBI Securities Co. Ltd. bought a new stake in Southern Copper Co. (NYSE:SCCO) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,435 shares of the basic materials company’s stock, valued at approximately $313,000.

A number of other hedge funds also recently added to or reduced their stakes in SCCO. Creative Financial Designs Inc. ADV increased its stake in shares of Southern Copper by 172.0% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 141 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Southern Copper by 2.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 173,419 shares of the basic materials company’s stock worth $20,059,000 after purchasing an additional 4,435 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Southern Copper by 11.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 112,086 shares of the basic materials company’s stock worth $12,965,000 after purchasing an additional 11,640 shares in the last quarter. National Pension Service increased its stake in shares of Southern Copper by 15.8% during the 3rd quarter. National Pension Service now owns 26,713 shares of the basic materials company’s stock worth $3,090,000 after purchasing an additional 3,639 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of Southern Copper by 30.8% during the 3rd quarter. Amalgamated Bank now owns 7,620 shares of the basic materials company’s stock worth $881,000 after purchasing an additional 1,796 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 research analysts have recently weighed in on the stock. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and dropped their price objective for the stock from $106.30 to $102.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research note on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $94.81.

Southern Copper Stock Up 5.1 %

Shares of NYSE SCCO opened at $90.30 on Thursday. Southern Copper Co. has a 1 year low of $81.12 and a 1 year high of $129.79. The firm’s 50 day moving average price is $93.95 and its 200 day moving average price is $101.28. The firm has a market cap of $70.93 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. As a group, sell-side analysts anticipate that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

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

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.