BI Asset Management Fondsmaeglerselskab A S Invests $4.59 Million in Southern Copper Co. (NYSE:SCCO)

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Southern Copper Co. (NYSE:SCCO) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 50,370 shares of the basic materials company’s stock, valued at approximately $4,590,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Larson Financial Group LLC lifted its position in shares of Southern Copper by 28.0% during the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 114 shares during the period. Cadence Wealth Management LLC raised its position in shares of 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 purchasing an additional 116 shares during the last quarter. Tyche Wealth Partners LLC raised its holdings in shares of Southern Copper by 0.6% in the fourth 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 lifted its position in shares of Southern Copper by 0.9% in the fourth quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company’s stock valued at $1,311,000 after acquiring an additional 122 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Southern Copper by 1.7% during the fourth quarter. Signaturefd LLC now owns 8,043 shares of the basic materials company’s stock valued at $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 Trading Up 0.3 %

SCCO stock opened at $86.47 on Monday. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The company has a market cap of $68.84 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 1.90 and a beta of 1.04. The business has a fifty day simple moving average of $91.25 and a 200-day simple moving average of $97.95. Southern Copper Co. has a 52 week low of $74.84 and a 52 week high of $127.34.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data 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%. On average, equities research analysts expect that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.70 per share. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Tuesday, February 11th. Southern Copper’s payout ratio is currently 64.81%.

Analyst Upgrades and Downgrades

SCCO has been the topic of several analyst reports. UBS Group decreased their price target on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Scotiabank increased their price target on Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. lowered their price objective on Southern Copper from $84.00 to $83.50 and set a “neutral” rating for the company in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $89.58.

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.