Zurich Insurance Group Ltd FI Invests $1.57 Million in Southern Copper Co. (NYSE:SCCO)

Zurich Insurance Group Ltd FI acquired a new stake in Southern Copper Co. (NYSE:SCCO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,206 shares of the basic materials company’s stock, valued at approximately $1,568,000.

A number of other large investors have also recently added to or reduced their stakes in SCCO. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Southern Copper in the fourth quarter valued at approximately $30,000. Deseret Mutual Benefit Administrators raised its position 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 worth $35,000 after purchasing an additional 257 shares during the last quarter. IFP Advisors Inc lifted its stake in Southern Copper by 143.4% in the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock valued at $43,000 after buying an additional 281 shares in the last quarter. Spire Wealth Management purchased a new position in Southern Copper during the fourth quarter worth $47,000. Finally, Larson Financial Group LLC raised 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 worth $48,000 after acquiring an additional 114 shares during the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the company. Scotiabank increased their price objective on Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. decreased their price target on shares of Southern Copper from $84.00 to $83.50 and set a “neutral” rating on the stock in a research note on Monday, April 14th. UBS Group lowered their price target on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Hsbc Global Res raised shares of Southern Copper from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 24th. Finally, StockNews.com lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $91.50.

Southern Copper Stock Down 0.1%

Shares of NYSE:SCCO opened at $91.58 on Wednesday. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The firm has a market cap of $72.91 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 1.90 and a beta of 1.05. The stock’s 50-day moving average price is $90.63 and its two-hundred day moving average price is $94.55. Southern Copper Co. has a 12-month low of $74.11 and a 12-month high of $125.60.

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

Southern Copper Dividend Announcement

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

Southern Copper 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.