Concentric Capital Strategies LP Purchases Shares of 22,337 Southern Copper Co. (NYSE:SCCO)

Concentric Capital Strategies LP acquired a new position in shares of Southern Copper Co. (NYSE:SCCO) in the 4th quarter, Holdings Channel reports. The fund acquired 22,337 shares of the basic materials company’s stock, valued at approximately $2,036,000.

Several other institutional investors have also modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in Southern Copper in the fourth quarter valued at approximately $30,000. Deseret Mutual Benefit Administrators raised its position in Southern Copper by 210.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 257 shares during the last quarter. IFP Advisors Inc boosted its stake in Southern Copper by 143.4% during the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 281 shares during the period. Spire Wealth Management acquired a new stake in Southern Copper during the 4th quarter worth $47,000. Finally, Larson Financial Group LLC grew its position in Southern Copper by 28.0% during the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $87.46 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a one year low of $74.11 and a one year high of $126.09. The firm has a market capitalization of $69.63 billion, a P/E ratio of 20.24, a PEG ratio of 1.90 and a beta of 1.05. The company’s fifty day moving average is $90.27 and its two-hundred day moving average is $96.03.

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. The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. Analysts forecast that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Dividend Announcement

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

Wall Street Analyst Weigh In

SCCO has been the topic of several recent research reports. UBS Group dropped their price target 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. Hsbc Global Res upgraded Southern Copper from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 24th. Scotiabank lifted 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. StockNews.com downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Southern Copper from $84.00 to $83.50 and set a “neutral” rating on the stock in a report on Monday, April 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $91.50.

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.