Southern Copper Co. (NYSE:SCCO) Stock Holdings Increased by Lbp Am Sa

Lbp Am Sa boosted its position in Southern Copper Co. (NYSE:SCCO) by 267.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,750 shares of the basic materials company’s stock after buying an additional 12,924 shares during the quarter. Lbp Am Sa’s holdings in Southern Copper were worth $1,618,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in SCCO. JPMorgan Chase & Co. grew its holdings in shares of Southern Copper by 74.6% during the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock valued at $162,283,000 after purchasing an additional 599,610 shares during the last quarter. Itau Unibanco Holding S.A. grew its holdings in shares of Southern Copper by 115,910.7% during the third quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company’s stock valued at $38,915,000 after purchasing an additional 336,141 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Southern Copper by 10.6% during the third quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock valued at $342,796,000 after purchasing an additional 283,562 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Southern Copper by 1,601.3% during the third quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock worth $22,275,000 after buying an additional 181,252 shares during the period. Finally, Wealthfront Advisers LLC acquired a new position in shares of Southern Copper during the fourth quarter worth approximately $15,197,000. 7.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SCCO. Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. UBS Group upgraded Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Thursday. 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 report on Monday, December 2nd. Finally, Scotiabank boosted their price objective on Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a research report on Monday, March 10th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $97.31.

Southern Copper Stock Performance

SCCO opened at $96.13 on Friday. The company has a market capitalization of $76.54 billion, a price-to-earnings ratio of 22.25, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. Southern Copper Co. has a 1-year low of $84.33 and a 1-year high of $129.79. The business has a 50 day moving average price of $93.79 and a two-hundred day moving average price of $100.64.

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

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were issued a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.80 annualized dividend and a dividend yield of 2.91%. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio is currently 64.81%.

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.