Stevens Capital Management LP Takes Position in Southern Copper Co. (NYSE:SCCO)

Stevens Capital Management LP bought a new position in shares of Southern Copper Co. (NYSE:SCCO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,726 shares of the basic materials company’s stock, valued at approximately $248,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SCCO. M&T Bank Corp grew its stake in shares of Southern Copper by 0.5% in the 3rd quarter. M&T Bank Corp now owns 20,460 shares of the basic materials company’s stock worth $2,367,000 after purchasing an additional 105 shares during the last quarter. Larson Financial Group LLC grew its position 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 worth $48,000 after buying an additional 114 shares during the last quarter. Cadence Wealth Management LLC increased its holdings in shares of Southern Copper by 4.1% in the fourth quarter. Cadence Wealth Management LLC now owns 2,919 shares of the basic materials company’s stock valued at $266,000 after buying an additional 116 shares in the last quarter. Tyche Wealth Partners LLC lifted its position in shares of Southern Copper by 0.6% during the 4th quarter. Tyche Wealth Partners LLC now owns 19,807 shares of the basic materials company’s stock valued at $1,805,000 after acquiring an additional 122 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its stake in shares of Southern Copper by 0.9% during the 4th quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company’s stock worth $1,311,000 after acquiring an additional 122 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SCCO shares. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a research report on Monday, December 2nd. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. UBS Group raised shares of Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Thursday, March 13th. Finally, Scotiabank upped their price target on shares of Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research report on Monday, March 10th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Southern Copper has an average rating of “Hold” and a consensus price target of $94.42.

Southern Copper Stock Performance

Shares of SCCO opened at $99.74 on Tuesday. The company has a market capitalization of $79.41 billion, a PE ratio of 23.09, a PEG ratio of 1.90 and a beta of 1.12. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The company’s 50 day moving average price is $94.37 and its 200 day moving average price is $100.65. Southern Copper Co. has a 52 week low of $84.33 and a 52 week high of $127.34.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 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%. Research analysts expect that Southern Copper Co. will post 4.66 EPS for the current fiscal 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 given a $0.70 dividend. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Tuesday, February 11th. Southern Copper’s dividend 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.