one8zero8 LLC Buys Shares of 3,485 Southern Copper Co. (NYSE:SCCO)

one8zero8 LLC purchased a new position in Southern Copper Co. (NYSE:SCCO) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,485 shares of the basic materials company’s stock, valued at approximately $318,000.

A number of other institutional investors have also made changes to their positions in SCCO. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Southern Copper by 7.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 230,495 shares of the basic materials company’s stock worth $26,661,000 after buying an additional 15,386 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Southern Copper by 15.3% in the 4th quarter. Nordea Investment Management AB now owns 108,753 shares of the basic materials company’s stock valued at $9,969,000 after acquiring an additional 14,391 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Southern Copper by 384.4% in the 3rd quarter. Two Sigma Advisers LP now owns 90,173 shares of the basic materials company’s stock valued at $10,430,000 after acquiring an additional 71,558 shares during the period. JPMorgan Chase & Co. boosted its stake in Southern Copper by 74.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock worth $162,283,000 after acquiring an additional 599,610 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Southern Copper by 22.2% during the fourth 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 purchasing an additional 24,933 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SCCO has been the topic of several analyst reports. Scotiabank increased their target price on shares of Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a report on Monday, March 10th. Morgan Stanley raised 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. 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. Finally, JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a report on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $97.31.

Southern Copper Stock Performance

SCCO opened at $96.13 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The company has a market capitalization of $76.54 billion, a price-to-earnings ratio of 22.25, a P/E/G ratio of 1.90 and a beta of 1.12. The business’s 50-day moving average price is $93.79 and its two-hundred day moving average price is $100.63. Southern Copper Co. has a 1 year low of $84.33 and a 1 year high of $129.79.

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 net margin of 29.53% and a return on equity of 40.27%. Equities analysts expect that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

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