Madison Investment Advisors LLC Invests $1.92 Million in Southern Copper Co. (NYSE:SCCO)

Madison Investment Advisors LLC acquired a new position in shares of Southern Copper Co. (NYSE:SCCO) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 21,061 shares of the basic materials company’s stock, valued at approximately $1,919,000.

Several other hedge funds also recently modified their holdings of the company. M&T Bank Corp increased its holdings in shares of Southern Copper by 0.5% in the third quarter. M&T Bank Corp now owns 20,460 shares of the basic materials company’s stock valued at $2,367,000 after purchasing an additional 105 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Southern Copper by 28.0% in the fourth quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 114 shares in the last quarter. Tyche Wealth Partners LLC grew its holdings in Southern Copper by 0.6% during the 4th quarter. Tyche Wealth Partners LLC now owns 19,807 shares of the basic materials company’s stock worth $1,805,000 after acquiring an additional 122 shares during the period. Yousif Capital Management LLC grew its holdings in Southern Copper by 0.9% during the 4th quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company’s stock worth $1,311,000 after acquiring an additional 122 shares during the period. Finally, 180 Wealth Advisors LLC grew its holdings in Southern Copper by 3.6% during the 4th quarter. 180 Wealth Advisors LLC now owns 4,062 shares of the basic materials company’s stock worth $370,000 after acquiring an additional 140 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $106.30 to $102.00 in a report 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 target price for the company in a report on Monday, December 2nd. Scotiabank lifted their target price on shares of Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a report on Monday, March 10th. Finally, UBS Group raised shares of Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a report on Thursday, March 13th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $97.31.

Southern Copper Trading Up 1.8 %

NYSE SCCO opened at $100.98 on Friday. The firm has a market cap of $80.39 billion, a P/E ratio of 23.37, a P/E/G 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. The stock’s 50-day moving average is $94.27 and its 200-day moving average is $100.57. Southern Copper Co. has a one year low of $84.33 and a one year high of $127.34.

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

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.77%. 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%.

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.