BNP Paribas Financial Markets Raises Stock Holdings in Southern Copper Co. (NYSE:SCCO)

BNP Paribas Financial Markets lifted its stake in Southern Copper Co. (NYSE:SCCO) by 12.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 216,969 shares of the basic materials company’s stock after buying an additional 24,398 shares during the quarter. BNP Paribas Financial Markets’ holdings in Southern Copper were worth $19,772,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SCCO. Capital World Investors raised its stake in Southern Copper by 0.6% during the 4th quarter. Capital World Investors now owns 4,232,245 shares of the basic materials company’s stock worth $385,684,000 after acquiring an additional 24,787 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Southern Copper by 0.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,700,844 shares of the basic materials company’s stock valued at $337,260,000 after buying an additional 15,037 shares in the last quarter. abrdn plc boosted its holdings in Southern Copper by 4.4% in the 4th quarter. abrdn plc now owns 2,849,638 shares of the basic materials company’s stock worth $260,428,000 after buying an additional 118,909 shares during the period. FIL Ltd increased its stake in Southern Copper by 0.3% in the 4th quarter. FIL Ltd now owns 1,171,227 shares of the basic materials company’s stock worth $106,734,000 after buying an additional 3,045 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Southern Copper by 44.9% during the fourth quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company’s stock valued at $104,484,000 after acquiring an additional 355,013 shares during the period. 7.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SCCO has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on Southern Copper from $84.00 to $83.50 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Scotiabank boosted 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. UBS Group dropped their target price on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. StockNews.com downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Monday, April 28th. Finally, Hsbc Global Res raised shares of Southern Copper from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Southern Copper has an average rating of “Hold” and a consensus price target of $91.50.

Southern Copper Price Performance

Southern Copper stock opened at $89.34 on Friday. Southern Copper Co. has a 52-week low of $74.11 and a 52-week high of $126.09. The company has a market cap of $71.13 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 1.90 and a beta of 1.05. The firm’s fifty day moving average is $90.37 and its 200 day moving average is $95.68. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.05 by $0.14. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.05 billion. Sell-side analysts forecast that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Announces Dividend

The business also recently announced a dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be given a dividend of $0.70 per share. This represents a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, May 2nd. Southern Copper’s dividend payout ratio is currently 61.27%.

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.