Signaturefd LLC Increases Stake in Southern Copper Co. (NYSE:SCCO)

Signaturefd LLC increased its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 1.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,043 shares of the basic materials company’s stock after purchasing an additional 133 shares during the quarter. Signaturefd LLC’s holdings in Southern Copper were worth $733,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Fisher Asset Management LLC increased 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 worth $342,796,000 after purchasing an additional 283,562 shares in the last quarter. abrdn plc increased its position in Southern Copper by 4.4% during the 4th quarter. abrdn plc now owns 2,849,638 shares of the basic materials company’s stock worth $260,428,000 after purchasing an additional 118,909 shares in the last quarter. State Street Corp grew its position in Southern Copper by 1.0% in the third quarter. State Street Corp now owns 2,728,802 shares of the basic materials company’s stock valued at $315,641,000 after acquiring an additional 27,358 shares in the last quarter. JPMorgan Chase & Co. grew its position in 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 valued at $162,283,000 after acquiring an additional 599,610 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Southern Copper by 3.4% in the third quarter. Geode Capital Management LLC now owns 613,286 shares of the basic materials company’s stock valued at $70,437,000 after acquiring an additional 20,204 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of SCCO opened at $99.65 on Thursday. The business’s fifty day moving average price is $94.06 and its 200 day moving average price is $100.58. Southern Copper Co. has a 12-month low of $84.33 and a 12-month high of $127.34. The stock has a market capitalization of $79.34 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31.

Southern Copper (NYSE:SCCO) last posted its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. Equities research analysts forecast that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.81%. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date was Tuesday, February 11th. Southern Copper’s dividend payout ratio (DPR) is presently 64.81%.

Wall Street Analyst Weigh In

Several analysts have issued reports on SCCO shares. Scotiabank increased their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research report on Monday, March 10th. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. UBS Group raised shares of Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research report on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Southern Copper has a consensus rating of “Hold” and a consensus target price of $97.31.

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.