Skandinaviska Enskilda Banken AB publ Purchases 2,429 Shares of Southern Copper Co. (NYSE:SCCO)

Skandinaviska Enskilda Banken AB publ raised its position in shares of Southern Copper Co. (NYSE:SCCO) by 12.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,260 shares of the basic materials company’s stock after acquiring an additional 2,429 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Southern Copper were worth $1,942,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SCCO. Deseret Mutual Benefit Administrators boosted its holdings in shares of Southern Copper by 210.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 257 shares during the period. IFP Advisors Inc boosted its stake in shares of Southern Copper by 143.4% in the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock valued at $43,000 after buying an additional 281 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Southern Copper in the third quarter valued at approximately $47,000. Larson Financial Group LLC boosted its stake 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 buying an additional 347 shares during the period. Finally, Spire Wealth Management bought a new stake in shares of Southern Copper in the fourth quarter valued at approximately $47,000. Institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SCCO. Scotiabank boosted their price target on Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a research note on Monday, December 2nd. UBS Group upgraded Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Thursday. Finally, Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. Four analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $97.31.

Southern Copper Stock Up 4.0 %

Shares of SCCO opened at $96.13 on Monday. The firm has a 50 day simple moving average of $93.79 and a two-hundred day simple moving average of $100.63. The company has a market cap of $76.54 billion, a P/E ratio of 22.25, a P/E/G ratio of 1.90 and a beta of 1.12. 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 one year low of $84.33 and a one year high of $129.79.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate 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 fiscal year.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, February 11th. 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 2.91%. Southern Copper’s dividend payout ratio is 64.81%.

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.