Southern Copper Co. (NYSE:SCCO) Holdings Trimmed by Advisors Asset Management Inc.

Advisors Asset Management Inc. decreased its holdings in Southern Copper Co. (NYSE:SCCO) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,796 shares of the basic materials company’s stock after selling 1,080 shares during the period. Advisors Asset Management Inc.’s holdings in Southern Copper were worth $5,358,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC increased its stake in shares of 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 during the last quarter. abrdn plc increased its position in Southern Copper by 4.4% during the fourth quarter. abrdn plc now owns 2,849,638 shares of the basic materials company’s stock worth $260,428,000 after acquiring an additional 118,909 shares during the period. State Street Corp raised its stake in Southern Copper by 1.0% during the 3rd quarter. State Street Corp now owns 2,728,802 shares of the basic materials company’s stock valued at $315,641,000 after purchasing an additional 27,358 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Southern Copper by 74.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock valued at $162,283,000 after purchasing an additional 599,610 shares during the period. Finally, Geode Capital Management LLC grew its position in Southern Copper by 3.4% during the third quarter. Geode Capital Management LLC now owns 613,286 shares of the basic materials company’s stock worth $70,437,000 after buying an additional 20,204 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SCCO. UBS Group upgraded shares of Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Thursday, March 13th. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target on the stock in a research report on Monday, December 2nd. Morgan Stanley upgraded 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. Finally, Scotiabank boosted their target price on Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a research report on Monday, March 10th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Southern Copper has a consensus rating of “Hold” and a consensus price target of $97.31.

Southern Copper Stock Up 0.9 %

Shares of NYSE SCCO opened at $99.65 on Thursday. The firm has a 50 day moving average price of $94.06 and a 200 day moving average price of $100.58. The stock has a market cap of $79.34 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a 52-week low of $84.33 and a 52-week high of $127.34. 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 (NYSE:SCCO) last issued its quarterly earnings data 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 net margin of 29.53% and a return on equity of 40.27%. Analysts expect that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The company 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 is a boost 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 2.81%. Southern Copper’s payout ratio is presently 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.