Fisher Asset Management LLC Has $363.87 Million Stock Position in Southern Copper Corporation $SCCO

Fisher Asset Management LLC lifted its stake in Southern Copper Corporation (NYSE:SCCO) by 0.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,536,228 shares of the basic materials company’s stock after acquiring an additional 7,194 shares during the quarter. Fisher Asset Management LLC’s holdings in Southern Copper were worth $363,873,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SCCO. Royal Bank of Canada lifted its position in shares of Southern Copper by 42.1% in the first quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company’s stock worth $4,194,000 after purchasing an additional 13,293 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Southern Copper by 17.9% in the first quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company’s stock worth $627,000 after purchasing an additional 1,020 shares in the last quarter. Focus Partners Wealth lifted its position in shares of Southern Copper by 21.5% in the first quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company’s stock worth $556,000 after purchasing an additional 1,052 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Southern Copper by 37.4% in the second quarter. First Trust Advisors LP now owns 73,379 shares of the basic materials company’s stock worth $7,424,000 after purchasing an additional 19,957 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its position in shares of Southern Copper by 17.7% in the second quarter. Baird Financial Group Inc. now owns 4,864 shares of the basic materials company’s stock worth $492,000 after purchasing an additional 731 shares in the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00. Following the transaction, the director owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 500 shares of company stock worth $88,412 over the last 90 days. 0.07% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SCCO. Bank of America lowered shares of Southern Copper from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $162.00 to $175.00 in a research report on Thursday, February 26th. UBS Group increased their price target on shares of Southern Copper from $140.00 to $145.00 and gave the stock a “sell” rating in a research report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Southern Copper in a research report on Friday, March 27th. Wells Fargo & Company set a $171.00 price target on shares of Southern Copper and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of Southern Copper from $117.50 to $127.00 and gave the stock an “underweight” rating in a research report on Friday, April 10th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $145.14.

Southern Copper Price Performance

Shares of SCCO opened at $179.68 on Monday. The firm has a market cap of $147.18 billion, a PE ratio of 29.70, a PEG ratio of 1.77 and a beta of 1.07. The firm’s 50 day moving average price is $177.58 and its 200 day moving average price is $169.63. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. Southern Copper Corporation has a twelve month low of $88.73 and a twelve month high of $223.88.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.04. The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $3.96 billion. Southern Copper had a net margin of 34.13% and a return on equity of 45.63%. As a group, research analysts expect that Southern Copper Corporation will post 6.93 EPS for the current fiscal year.

Southern Copper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Wednesday, May 13th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, May 13th. Southern Copper’s dividend payout ratio (DPR) is presently 66.12%.

Southern Copper Profile

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.