Marshall Wace LLP Increases Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Marshall Wace LLP grew its holdings in shares of Southern Copper Co. (NYSE:SCCOFree Report) by 49.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 998,923 shares of the basic materials company’s stock after purchasing an additional 331,319 shares during the period. Marshall Wace LLP owned about 0.13% of Southern Copper worth $91,032,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Southern Copper in the fourth quarter valued at approximately $30,000. Deseret Mutual Benefit Administrators grew its stake in shares of Southern Copper by 210.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 257 shares in the last quarter. IFP Advisors Inc increased its position in shares of Southern Copper by 143.4% during the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 281 shares during the period. Spire Wealth Management acquired a new stake in shares of Southern Copper in the fourth quarter valued at $47,000. Finally, Larson Financial Group LLC boosted its holdings in Southern Copper by 28.0% in the fourth quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 114 shares during the period. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $86.24 on Thursday. The stock’s 50-day simple moving average is $91.57 and its 200-day simple moving average is $98.62. The firm has a market capitalization of $68.66 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. Southern Copper Co. has a fifty-two week low of $74.84 and a fifty-two 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:SCCOGet Free Report) last released its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. As a group, equities research analysts forecast that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were given a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 3.25%. Southern Copper’s payout ratio is 64.81%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on Southern Copper from $84.00 to $83.50 and set a “neutral” rating on the stock in a report on Monday. Scotiabank raised their target price on shares of Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a report on Monday, March 10th. Finally, UBS Group decreased their price target on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Southern Copper currently has an average rating of “Hold” and a consensus price target of $89.58.

View Our Latest Research Report on SCCO

About Southern Copper

(Free Report)

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.

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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