PDT Partners LLC Acquires Shares of 39,809 Southern Copper Co. (NYSE:SCCO)

PDT Partners LLC acquired a new stake in shares of Southern Copper Co. (NYSE:SCCO) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 39,809 shares of the basic materials company’s stock, valued at approximately $3,628,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB lifted its holdings in shares of Southern Copper by 15.3% during the fourth quarter. Nordea Investment Management AB now owns 108,753 shares of the basic materials company’s stock valued at $9,969,000 after acquiring an additional 14,391 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of 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 valued at $162,283,000 after acquiring an additional 599,610 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Southern Copper by 22.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 137,019 shares of the basic materials company’s stock valued at $12,487,000 after acquiring an additional 24,933 shares during the period. Morse Asset Management Inc bought a new position in shares of Southern Copper during the third quarter valued at $1,397,000. Finally, Raymond James Financial Inc. bought a new position in shares of Southern Copper during the fourth quarter valued at $8,420,000. 7.94% of the stock is owned by institutional investors.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $93.78 on Tuesday. The firm has a market cap of $74.67 billion, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a 1-year low of $74.84 and a 1-year high of $127.34. The business’s 50 day moving average is $90.67 and its 200-day moving average is $96.94.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.05 billion. Equities research analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Announces Dividend

The firm also recently announced 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 of this dividend is Friday, May 2nd. Southern Copper’s dividend payout ratio is presently 61.27%.

Analyst Upgrades and Downgrades

SCCO has been the topic of a number of research reports. UBS Group reduced their target price on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. StockNews.com lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. dropped their price objective 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. Hsbc Global Res upgraded shares of Southern Copper from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 24th. Finally, 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. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $91.50.

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.