Southern Copper Co. (NYSE:SCCO) Shares Acquired by Lbp Am Sa

Lbp Am Sa lifted its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 267.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,750 shares of the basic materials company’s stock after purchasing an additional 12,924 shares during the quarter. Lbp Am Sa’s holdings in Southern Copper were worth $1,618,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Deseret Mutual Benefit Administrators boosted its holdings 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 worth $35,000 after purchasing an additional 257 shares during the last quarter. IFP Advisors Inc boosted its holdings in Southern Copper by 143.4% in the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 281 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in Southern Copper in the third quarter valued at $47,000. Larson Financial Group LLC boosted its holdings in Southern Copper by 578.3% in the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 347 shares during the last quarter. Finally, Spire Wealth Management acquired a new position in Southern Copper in the fourth quarter valued at $47,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Up 4.0 %

Shares of NYSE SCCO opened at $96.13 on Friday. Southern Copper Co. has a 1 year low of $84.33 and a 1 year high of $129.79. The firm has a market cap of $76.54 billion, a price-to-earnings ratio of 22.25, a PEG 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. The stock’s 50-day simple moving average is $93.79 and its 200-day simple moving average is $100.64.

Southern Copper (NYSE:SCCO) last announced 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, equities analysts anticipate that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were issued a $0.70 dividend. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 2.91%. The ex-dividend date was Tuesday, February 11th. Southern Copper’s payout ratio is currently 64.81%.

Wall Street Analysts Forecast Growth

SCCO has been the topic of a number of research analyst reports. 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 report on Thursday. Scotiabank lifted 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. 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 report on Monday, December 2nd. Finally, Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock 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 assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $97.31.

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.