Transce3nd LLC Acquires Shares of 2,680 Southern Copper Co. (NYSE:SCCO)

Transce3nd LLC bought a new position in shares of Southern Copper Co. (NYSE:SCCO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,680 shares of the basic materials company’s stock, valued at approximately $244,000.

Several other large investors have also made changes to their positions in SCCO. JPMorgan Chase & Co. boosted its holdings in Southern Copper by 74.6% during the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock worth $162,283,000 after buying an additional 599,610 shares during the last quarter. Norges Bank acquired a new stake in shares of Southern Copper in the 4th quarter valued at approximately $52,738,000. Renaissance Technologies LLC boosted its stake in Southern Copper by 1,417.7% during the 4th quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company’s stock worth $37,173,000 after acquiring an additional 381,035 shares during the last quarter. Marshall Wace LLP grew its holdings in Southern Copper by 49.6% during the fourth quarter. Marshall Wace LLP now owns 998,923 shares of the basic materials company’s stock valued at $91,032,000 after purchasing an additional 331,319 shares during the period. Finally, Distillate Capital Partners LLC bought a new stake in Southern Copper in the fourth quarter valued at approximately $19,785,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

SCCO has been the subject of several research analyst reports. Scotiabank boosted their price objective on Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research report on Monday, March 10th. JPMorgan Chase & Co. reduced 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. Finally, UBS Group dropped their target price on Southern Copper from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Southern Copper has a consensus rating of “Hold” and a consensus price target of $89.58.

Southern Copper Stock Up 0.3 %

SCCO stock opened at $86.47 on Monday. The company has a market cap of $68.84 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 1.90 and a beta of 1.04. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a twelve month low of $74.84 and a twelve month high of $127.34. The business has a 50 day moving average price of $91.25 and a two-hundred day moving average price of $97.95.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. Analysts anticipate that Southern Copper Co. will post 4.66 EPS for the current fiscal 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 $0.70 dividend. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.80 annualized dividend and a yield of 3.24%. Southern Copper’s dividend payout ratio is currently 64.81%.

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.