Kovack Advisors Inc. purchased a new position in shares of Southern Copper Corp (NYSE:SCCO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,958 shares of the basic materials company’s stock, valued at approximately $235,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bollard Group LLC grew its stake in Southern Copper by 0.5% during the 4th quarter. Bollard Group LLC now owns 338,202 shares of the basic materials company’s stock valued at $16,048,000 after acquiring an additional 1,765 shares in the last quarter. PGGM Investments purchased a new stake in Southern Copper during the 4th quarter valued at about $2,396,000. Eqis Capital Management Inc. purchased a new stake in Southern Copper during the 4th quarter valued at about $419,000. SG Americas Securities LLC grew its stake in Southern Copper by 175.3% during the 4th quarter. SG Americas Securities LLC now owns 14,152 shares of the basic materials company’s stock valued at $672,000 after acquiring an additional 9,011 shares in the last quarter. Finally, Lau Associates LLC purchased a new stake in Southern Copper during the 4th quarter valued at about $216,000. Hedge funds and other institutional investors own 6.56% of the company’s stock.
Shares of Southern Copper Corp (NYSE:SCCO) opened at $47.40 on Monday. Southern Copper Corp has a one year low of $32.63 and a one year high of $50.90. The company has a quick ratio of 2.00, a current ratio of 3.01 and a debt-to-equity ratio of 0.90. The firm has a market cap of $36,641.53, a P/E ratio of 30.78, a PEG ratio of 0.62 and a beta of 0.59.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th will be paid a $0.30 dividend. This is a boost from Southern Copper’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, February 12th. This represents a $1.20 annualized dividend and a dividend yield of 2.53%. Southern Copper’s dividend payout ratio is 64.94%.
Several analysts recently issued reports on SCCO shares. BidaskClub cut shares of Southern Copper from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 28th. FBR & Co reaffirmed a “buy” rating on shares of Southern Copper in a research note on Monday, October 23rd. B. Riley reaffirmed a “buy” rating on shares of Southern Copper in a research note on Wednesday, November 1st. Santander raised shares of Southern Copper from a “hold” rating to a “buy” rating in a research note on Monday, December 18th. Finally, Zacks Investment Research cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, November 11th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $42.06.
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About Southern Copper
Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.
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