Edgestream Partners L.P. Boosts Stock Position in Southern Copper Co. (NYSE:SCCO)

Edgestream Partners L.P. raised its stake in Southern Copper Co. (NYSE:SCCO) by 130.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 90,020 shares of the basic materials company’s stock after purchasing an additional 50,882 shares during the quarter. Edgestream Partners L.P.’s holdings in Southern Copper were worth $8,204,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Deseret Mutual Benefit Administrators grew its position in Southern Copper by 210.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after buying an additional 257 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Southern Copper by 578.3% in the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 347 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Southern Copper during the third quarter worth about $47,000. Planning Capital Management Corp acquired a new position in shares of Southern Copper during the third quarter worth about $52,000. Finally, IFP Advisors Inc raised its holdings in Southern Copper by 143.4% during the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 281 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on SCCO shares. JPMorgan Chase & Co. upgraded 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 Southern Copper from an “underweight” rating to an “equal weight” rating and dropped their price objective for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $94.81.

Southern Copper Stock Up 0.3 %

SCCO opened at $90.80 on Friday. 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 has a market cap of $71.33 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a one year low of $83.22 and a one year high of $129.79. The business’s fifty day moving average is $93.88 and its two-hundred day moving average is $101.21.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data 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 net margin of 29.53% and a return on equity of 40.27%. Analysts anticipate that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were given a dividend of $0.70 per share. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Tuesday, February 11th. Southern Copper’s payout ratio is currently 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.