Donoghue Forlines LLC bought a new stake in Southern Copper Co. (NYSE:SCCO – Get Rating) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 34,361 shares of the basic materials company’s stock, valued at approximately $2,120,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Yousif Capital Management LLC acquired a new stake in shares of Southern Copper in the 4th quarter worth approximately $815,000. Gateway Investment Advisers LLC lifted its holdings in shares of Southern Copper by 20.2% during the fourth quarter. Gateway Investment Advisers LLC now owns 120,941 shares of the basic materials company’s stock valued at $7,463,000 after purchasing an additional 20,289 shares during the last quarter. LPL Financial LLC boosted its position in shares of Southern Copper by 13.1% in the 3rd quarter. LPL Financial LLC now owns 61,699 shares of the basic materials company’s stock valued at $3,464,000 after purchasing an additional 7,140 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Southern Copper in the 4th quarter worth about $16,790,000. Finally, Berger Financial Group Inc acquired a new stake in Southern Copper during the 4th quarter worth about $304,000. Hedge funds and other institutional investors own 6.83% of the company’s stock.
A number of equities research analysts have commented on SCCO shares. Morgan Stanley lowered Southern Copper from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $55.00 to $63.00 in a research report on Wednesday, March 23rd. Barclays boosted their price objective on shares of Southern Copper from $58.00 to $62.00 in a research report on Thursday, April 21st. Finally, StockNews.com downgraded shares of Southern Copper from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $61.30.
Southern Copper stock traded up $2.95 during trading hours on Tuesday, hitting $56.88. The stock had a trading volume of 43,575 shares, compared to its average volume of 1,481,263. The company has a 50-day moving average of $69.61 and a two-hundred day moving average of $65.57. The company has a quick ratio of 2.30, a current ratio of 2.73 and a debt-to-equity ratio of 0.76. The company has a market cap of $43.97 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 1.61 and a beta of 1.12. Southern Copper Co. has a fifty-two week low of $53.36 and a fifty-two week high of $80.07.
Southern Copper (NYSE:SCCO – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The basic materials company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.68 billion. Southern Copper had a net margin of 30.61% and a return on equity of 42.14%. As a group, analysts forecast that Southern Copper Co. will post 4.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Tuesday, May 17th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 8.79%. The ex-dividend date is Monday, May 16th. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s payout ratio is currently 90.29%.
About Southern Copper (Get Rating)
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 and lead.
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