Inceptionr LLC Purchases 8,390 Shares of Southern Copper Co. (NYSE:SCCO)

Inceptionr LLC grew its position in shares of Southern Copper Co. (NYSE:SCCO) by 150.4% in the fourth quarter, Holdings Channel reports. The fund owned 13,970 shares of the basic materials company’s stock after buying an additional 8,390 shares during the quarter. Inceptionr LLC’s holdings in Southern Copper were worth $1,273,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Financial Designs Inc. ADV boosted its position in shares of Southern Copper by 172.0% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 141 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its position in Southern Copper by 210.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock worth $35,000 after buying an additional 257 shares during the last quarter. Larson Financial Group LLC lifted its position 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 worth $47,000 after buying an additional 347 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in Southern Copper in the third quarter worth $47,000. Finally, Planning Capital Management Corp bought a new stake in Southern Copper in the third quarter worth $52,000. 7.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $106.30 to $102.00 in a research 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 target for the company in a research report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $94.81.

Southern Copper Stock Performance

SCCO stock opened at $90.30 on Thursday. 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 business’s fifty day simple moving average is $93.95 and its two-hundred day simple moving average is $101.28. Southern Copper Co. has a twelve month low of $81.12 and a twelve month high of $129.79. The firm has a market cap of $70.93 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.90 and a beta of 1.12.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. Analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.70 per share. The ex-dividend date was Tuesday, February 11th. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio (DPR) is currently 64.81%.

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.