1,083 Shares in Southern Copper Co. (NYSE:SCCO) Acquired by Kohmann Bosshard Financial Services LLC

Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Southern Copper Co. (NYSE:SCCO) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,083 shares of the basic materials company’s stock, valued at approximately $99,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in shares of Southern Copper by 74.6% in the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock worth $162,283,000 after purchasing an additional 599,610 shares during the last quarter. Itau Unibanco Holding S.A. raised its position in Southern Copper by 115,910.7% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company’s stock worth $38,915,000 after buying an additional 336,141 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Southern Copper by 10.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock valued at $342,796,000 after acquiring an additional 283,562 shares during the period. BNP Paribas Financial Markets lifted its stake in Southern Copper by 1,601.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock valued at $22,275,000 after acquiring an additional 181,252 shares during the period. Finally, abrdn plc boosted its holdings in shares of Southern Copper by 4.4% in the 4th quarter. abrdn plc now owns 2,849,638 shares of the basic materials company’s stock valued at $260,428,000 after acquiring an additional 118,909 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SCCO. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research note on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $94.81.

Southern Copper Trading Down 1.9 %

SCCO stock opened at $88.78 on Monday. Southern Copper Co. has a 52-week low of $79.33 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. The firm has a market cap of $69.74 billion, a P/E ratio of 20.55, a PEG ratio of 1.90 and a beta of 1.13. The company’s 50-day simple moving average is $94.35 and its 200-day simple moving average is $101.62.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share 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 forecast that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.15%. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, February 11th. Southern Copper’s dividend payout ratio (DPR) is presently 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.