MBB Public Markets I LLC Acquires New Position in Southern Copper Co. (NYSE:SCCO)

MBB Public Markets I LLC bought a new position in shares of Southern Copper Co. (NYSE:SCCO) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 5,759 shares of the basic materials company’s stock, valued at approximately $620,000.

A number of other hedge funds have also bought and sold shares of the stock. Ensign Peak Advisors Inc grew its holdings in shares of Southern Copper by 1.0% during the second quarter. Ensign Peak Advisors Inc now owns 10,558 shares of the basic materials company’s stock valued at $1,138,000 after buying an additional 108 shares during the last quarter. Prudential PLC lifted its holdings in Southern Copper by 1.0% in the second quarter. Prudential PLC now owns 10,667 shares of the basic materials company’s stock valued at $1,149,000 after acquiring an additional 109 shares during the period. American Financial Advisors LLC lifted its stake in shares of Southern Copper by 1.0% in the 2nd quarter. American Financial Advisors LLC now owns 11,718 shares of the basic materials company’s stock valued at $1,262,000 after purchasing an additional 117 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Southern Copper by 0.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 23,758 shares of the basic materials company’s stock worth $2,557,000 after acquiring an additional 118 shares during the period. Finally, Wahed Invest LLC boosted its position in Southern Copper by 9.0% during the fourth quarter. Wahed Invest LLC now owns 1,451 shares of the basic materials company’s stock worth $125,000 after purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Performance

NYSE:SCCO opened at $117.11 on Wednesday. The company’s 50-day moving average is $102.92 and its two-hundred day moving average is $109.13. Southern Copper Co. has a 1-year low of $68.93 and a 1-year high of $129.79. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.81 and a quick ratio of 2.27. The firm has a market capitalization of $91.48 billion, a price-to-earnings ratio of 38.92, a PEG ratio of 1.17 and a beta of 1.17.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Friday, July 19th. The basic materials company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.09. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $2.96 billion. Analysts forecast that Southern Copper Co. will post 4.29 EPS for the current year.

Southern Copper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Friday, August 9th. Southern Copper’s payout ratio is 79.77%.

Wall Street Analyst Weigh In

SCCO has been the topic of several research analyst reports. UBS Group started coverage on shares of Southern Copper in a research report on Friday, July 12th. They issued a “neutral” rating and a $120.00 target price on the stock. Morgan Stanley increased their price objective on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $89.57.

Southern Copper Company 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.