SBI Securities Co. Ltd. Buys New Stake in Southern Copper Co. (NYSE:SCCO)

SBI Securities Co. Ltd. bought a new stake in shares of Southern Copper Co. (NYSE:SCCO) during the 4th quarter, Holdings Channel.com reports. The firm bought 3,435 shares of the basic materials company’s stock, valued at approximately $313,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SCCO. Creative Financial Designs Inc. ADV lifted its holdings 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 in the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in shares of Southern Copper by 210.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 257 shares in the last quarter. IFP Advisors Inc increased its stake in Southern Copper by 143.4% during the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock worth $43,000 after buying an additional 281 shares during the period. Prospera Private Wealth LLC purchased a new stake in Southern Copper during the 3rd quarter worth $47,000. Finally, Larson Financial Group LLC increased its stake in Southern Copper by 578.3% during the 3rd 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 period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Price Performance

SCCO opened at $90.30 on Thursday. The company has a 50-day moving average of $93.95 and a 200-day moving average of $101.28. The company has a market capitalization of $70.93 billion, a P/E ratio of 20.90, a PEG ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a 1-year low of $81.12 and a 1-year high of $129.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77.

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

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were given a $0.70 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s payout ratio is presently 64.81%.

Analysts Set New Price Targets

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

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.