1,020 Shares in Southern Copper Co. (NYSE:SCCO) Acquired by R Squared Ltd

R Squared Ltd acquired a new stake in shares of Southern Copper Co. (NYSE:SCCO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,020 shares of the basic materials company’s stock, valued at approximately $93,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in SCCO. Fisher Asset Management LLC boosted its position in Southern Copper by 10.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock valued at $342,796,000 after buying an additional 283,562 shares during the period. State Street Corp boosted its holdings in shares of Southern Copper by 1.0% during the third quarter. State Street Corp now owns 2,728,802 shares of the basic materials company’s stock worth $315,641,000 after purchasing an additional 27,358 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Southern Copper by 74.6% in the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock worth $162,283,000 after purchasing an additional 599,610 shares during the last quarter. Empower Advisory Group LLC increased its holdings in Southern Copper by 3.3% during the 3rd quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company’s stock valued at $116,140,000 after purchasing an additional 32,314 shares during the period. Finally, Marathon Asset Management Ltd raised its position in Southern Copper by 2.9% during the 3rd quarter. Marathon Asset Management Ltd now owns 788,672 shares of the basic materials company’s stock valued at $91,226,000 after purchasing an additional 22,437 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SCCO shares. Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price objective for the stock from $106.30 to $102.00 in a research 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 price objective on the stock in a research report on Monday, December 2nd. Finally, Scotiabank dropped their target price on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research report on Tuesday, October 15th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $94.81.

Southern Copper Stock Performance

Shares of SCCO stock opened at $92.54 on Friday. 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 company’s fifty day moving average price is $96.72 and its 200-day moving average price is $103.04. The stock has a market cap of $72.69 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. Southern Copper Co. has a 12 month low of $77.42 and a 12 month high of $129.79.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Monday, February 10th. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio is 72.16%.

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.