Checchi Capital Advisers LLC bought a new stake in Southern Copper Corp (NYSE:SCCO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,845 shares of the basic materials company’s stock, valued at approximately $230,000.
A number of other institutional investors have also modified their holdings of the stock. State Street Corp lifted its holdings in Southern Copper by 2.6% during the second quarter. State Street Corp now owns 3,503,768 shares of the basic materials company’s stock worth $121,331,000 after acquiring an additional 89,594 shares during the period. Acadian Asset Management LLC lifted its holdings in Southern Copper by 11,067.1% during the fourth quarter. Acadian Asset Management LLC now owns 1,897,732 shares of the basic materials company’s stock worth $90,047,000 after acquiring an additional 1,880,738 shares during the period. Commonwealth Bank of Australia lifted its holdings in Southern Copper by 5.4% during the third quarter. Commonwealth Bank of Australia now owns 1,015,831 shares of the basic materials company’s stock worth $40,383,000 after acquiring an additional 52,342 shares during the period. Vanguard Group Inc. lifted its holdings in Southern Copper by 1.8% during the second quarter. Vanguard Group Inc. now owns 751,901 shares of the basic materials company’s stock worth $26,038,000 after acquiring an additional 13,612 shares during the period. Finally, Personal Capital Advisors Corp lifted its holdings in Southern Copper by 5.6% during the fourth quarter. Personal Capital Advisors Corp now owns 697,511 shares of the basic materials company’s stock worth $33,097,000 after acquiring an additional 36,716 shares during the period. Institutional investors and hedge funds own 6.56% of the company’s stock.
Shares of Southern Copper Corp (NYSE SCCO) opened at $46.85 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.01 and a quick ratio of 2.00. Southern Copper Corp has a 52-week low of $32.63 and a 52-week high of $50.90. The stock has a market capitalization of $36,220.00, a price-to-earnings ratio of 30.42, a price-to-earnings-growth ratio of 0.62 and a beta of 0.59.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th will be given a $0.30 dividend. This is an increase from Southern Copper’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Monday, February 12th. Southern Copper’s dividend payout ratio (DPR) is currently 64.94%.
A number of brokerages recently commented on SCCO. Citigroup reiterated a “neutral” rating on shares of Southern Copper in a report on Monday, January 22nd. UBS Group lowered Southern Copper from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $48.00 to $50.50 in a report on Monday, January 22nd. Zacks Investment Research lowered Southern Copper from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. B. Riley reissued a “buy” rating on shares of Southern Copper in a research report on Wednesday, November 1st. Finally, BidaskClub raised Southern Copper from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $44.79.
Southern Copper Company Profile
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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