Southern Copper Co. (NYSE:SCCO) Shares Acquired by Gallacher Capital Management LLC

Gallacher Capital Management LLC lifted its stake in shares of Southern Copper Co. (NYSE:SCCO) by 20.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,030 shares of the basic materials company’s stock after buying an additional 695 shares during the quarter. Gallacher Capital Management LLC’s holdings in Southern Copper were worth $367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. M&T Bank Corp grew its position in shares of Southern Copper by 0.5% during the third 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 in the last quarter. Larson Financial Group LLC lifted its stake in Southern Copper by 28.0% during the fourth quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 114 shares during the last quarter. Tyche Wealth Partners LLC lifted its stake in Southern Copper by 0.6% during the fourth quarter. Tyche Wealth Partners LLC now owns 19,807 shares of the basic materials company’s stock worth $1,805,000 after purchasing an additional 122 shares during the last quarter. Yousif Capital Management LLC lifted its stake in Southern Copper by 0.9% during the fourth quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company’s stock worth $1,311,000 after purchasing an additional 122 shares during the last quarter. Finally, 180 Wealth Advisors LLC lifted its stake in Southern Copper by 3.6% during the fourth quarter. 180 Wealth Advisors LLC now owns 4,062 shares of the basic materials company’s stock worth $370,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on SCCO. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a research note on Monday, December 2nd. Scotiabank raised their target price on Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research note on Monday, March 10th. UBS Group upgraded Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Thursday. Finally, Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. Four research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Southern Copper currently has a consensus rating of “Hold” and a consensus price target of $97.31.

Southern Copper Price Performance

NYSE:SCCO opened at $96.13 on Friday. The business’s 50-day moving average price is $93.79 and its 200 day moving average price is $100.64. The firm has a market cap of $76.54 billion, a P/E ratio of 22.25, a PEG ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a 52-week low of $84.33 and a 52-week high of $129.79. 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) last released its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, sell-side analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were paid a $0.70 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a yield of 2.91%. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio (DPR) is currently 64.81%.

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.