Mackenzie Financial Corp Has $15.45 Million Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Mackenzie Financial Corp increased its position in shares of Southern Copper Co. (NYSE:SCCO) by 51.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 170,816 shares of the basic materials company’s stock after acquiring an additional 57,834 shares during the quarter. Mackenzie Financial Corp’s holdings in Southern Copper were worth $15,454,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Larson Financial Group LLC raised its stake in shares of Southern Copper by 28.0% during the fourth quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock worth $48,000 after buying an additional 114 shares during the last quarter. Cadence Wealth Management LLC boosted its stake in Southern Copper by 4.1% during the 4th quarter. Cadence Wealth Management LLC now owns 2,919 shares of the basic materials company’s stock worth $266,000 after acquiring an additional 116 shares during the last quarter. Tyche Wealth Partners LLC boosted its stake 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 last quarter. Yousif Capital Management LLC boosted its stake 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 last quarter. Finally, Signaturefd LLC boosted its stake in Southern Copper by 1.7% during the 4th quarter. Signaturefd LLC now owns 8,043 shares of the basic materials company’s stock worth $733,000 after acquiring an additional 133 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Price Performance

SCCO stock opened at $92.44 on Tuesday. Southern Copper Co. has a 1 year low of $74.11 and a 1 year high of $119.97. 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 stock has a 50-day moving average price of $90.11 and a two-hundred day moving average price of $93.89. The stock has a market cap of $73.60 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05.

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

Southern Copper Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. UBS Group reduced their target price on Southern Copper from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. cut 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. Scotiabank lifted their price target on shares of Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research note on Monday, March 10th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Southern Copper currently has an average rating of “Hold” and an average target price of $91.50.

About Southern Copper

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.