D.A. Davidson & CO. Acquires 172 Shares of Southern Copper Co. (NYSE:SCCO)

D.A. Davidson & CO. raised its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 0.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 22,947 shares of the basic materials company’s stock after buying an additional 172 shares during the period. D.A. Davidson & CO.’s holdings in Southern Copper were worth $2,091,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV grew its stake in shares of Southern Copper by 172.0% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 141 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Southern Copper by 578.3% during the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 347 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Southern Copper during the 3rd quarter worth approximately $47,000. Planning Capital Management Corp bought a new position in shares of Southern Copper during the 3rd quarter worth approximately $52,000. Finally, Spire Wealth Management bought a new position in shares of Southern Copper during the 4th quarter worth approximately $47,000. 7.94% of the stock is owned by institutional investors.

Southern Copper Trading Down 5.1 %

Shares of Southern Copper stock opened at $92.87 on Friday. 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 Co. has a 1 year low of $78.82 and a 1 year high of $129.79. The company has a market capitalization of $72.95 billion, a price-to-earnings ratio of 21.50, a P/E/G ratio of 1.87 and a beta of 1.13. The business has a fifty day simple moving average of $94.61 and a two-hundred day simple moving average of $101.88.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. Research analysts forecast that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Tuesday, February 11th will be given a $0.70 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.02%. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio (DPR) is presently 64.81%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their target price for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price for the company in a research note on Monday, December 2nd. Four analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $94.81.

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.