Parvin Asset Management LLC Acquires Shares of 4,492 Southern Copper Co. (NYSE:SCCO)

Parvin Asset Management LLC acquired a new stake in Southern Copper Co. (NYSE:SCCO) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,492 shares of the basic materials company’s stock, valued at approximately $409,000.

A number of other large investors have also recently made changes to their positions in SCCO. Nordea Investment Management AB lifted its position in shares of Southern Copper by 15.3% during the fourth quarter. Nordea Investment Management AB now owns 108,753 shares of the basic materials company’s stock valued at $9,969,000 after purchasing an additional 14,391 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Southern Copper by 74.6% during the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock valued at $162,283,000 after purchasing an additional 599,610 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Southern Copper by 22.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 137,019 shares of the basic materials company’s stock valued at $12,487,000 after purchasing an additional 24,933 shares in the last quarter. Morse Asset Management Inc bought a new position in shares of Southern Copper during the third quarter valued at about $1,397,000. Finally, Raymond James Financial Inc. bought a new position in shares of Southern Copper during the fourth quarter valued at about $8,420,000. 7.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Southern Copper from $84.00 to $83.50 and set a “neutral” rating for the company in a report on Monday, April 14th. StockNews.com downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Monday. Scotiabank raised their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a report on Monday, March 10th. Hsbc Global Res upgraded shares of Southern Copper from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 24th. Finally, UBS Group decreased their price objective on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $91.50.

Southern Copper Trading Down 1.0 %

NYSE:SCCO opened at $92.89 on Wednesday. The company has a market cap of $73.96 billion, a P/E ratio of 21.50, a P/E/G ratio of 1.90 and a beta of 1.04. The stock’s fifty day moving average price is $90.58 and its two-hundred day moving average price is $96.91. Southern Copper Co. has a 1 year low of $74.84 and a 1 year high of $127.34. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31.

Southern Copper (NYSE:SCCO) last posted its earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.14. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.05 billion. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. As a group, analysts expect that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Dividend Announcement

The company also recently declared a dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be issued a $0.70 dividend. The ex-dividend date is Friday, May 2nd. This represents a dividend yield of 2.98%. Southern Copper’s payout ratio is currently 61.27%.

About Southern Copper

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.