Lbp Am Sa Boosts Position in Southern Copper Co. (NYSE:SCCO)

Lbp Am Sa raised its stake in shares of Southern Copper Co. (NYSE:SCCO) by 12.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,404 shares of the basic materials company’s stock after buying an additional 606 shares during the quarter. Lbp Am Sa’s holdings in Southern Copper were worth $576,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SCCO. Fortis Group Advisors LLC lifted its position in Southern Copper by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock worth $26,000 after buying an additional 151 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Southern Copper during the 1st quarter valued at $26,000. Riverview Trust Co purchased a new position in Southern Copper in the 1st quarter worth $27,000. Venturi Wealth Management LLC lifted its stake in Southern Copper by 164.8% in the fourth quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 300 shares during the last quarter. Finally, ICA Group Wealth Management LLC bought a new position in shares of Southern Copper during the fourth quarter valued at about $61,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Analyst Ratings Changes

SCCO has been the subject of a number of research reports. StockNews.com raised shares of Southern Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. CICC Research started coverage on Southern Copper in a research note on Wednesday, April 24th. They issued an “outperform” rating for the company. HSBC cut Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price target on the stock. in a research note on Monday, April 22nd. UBS Group started coverage on Southern Copper in a report on Friday, July 12th. They issued a “neutral” rating and a $120.00 price objective for the company. Finally, Morgan Stanley boosted their target price on shares of Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a report on Friday, June 21st. Five analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.57.

Southern Copper Price Performance

Shares of SCCO traded down $3.18 during trading hours on Friday, reaching $99.04. 567,018 shares of the stock traded hands, compared to its average volume of 1,195,667. Southern Copper Co. has a 52-week low of $68.93 and a 52-week high of $129.79. The company has a current ratio of 3.31, a quick ratio of 2.56 and a debt-to-equity ratio of 0.82. The company has a market cap of $77.37 billion, a P/E ratio of 32.70, a price-to-earnings-growth ratio of 1.09 and a beta of 1.20. The company’s 50-day moving average price is $110.44 and its two-hundred day moving average price is $102.89.

Southern Copper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, August 9th. This represents a $2.40 annualized dividend and a yield of 2.42%. Southern Copper’s payout ratio is 92.07%.

Southern Copper 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.