Southern Copper Co. (NYSE:SCCO) Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC reduced its position in shares of Southern Copper Co. (NYSE:SCCO) by 13.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,704 shares of the basic materials company’s stock after selling 2,314 shares during the period. Convergence Investment Partners LLC’s holdings in Southern Copper were worth $1,340,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Southern Copper by 74.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock worth $162,283,000 after buying an additional 599,610 shares during the last quarter. Itau Unibanco Holding S.A. grew its position in shares of Southern Copper by 115,910.7% during the third quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company’s stock worth $38,915,000 after acquiring an additional 336,141 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Southern Copper by 10.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock worth $342,796,000 after acquiring an additional 283,562 shares during the period. International Assets Investment Management LLC lifted its position in Southern Copper by 11,510.5% in the 3rd quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company’s stock valued at $21,944,000 after purchasing an additional 188,082 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Southern Copper by 1,601.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock valued at $22,275,000 after purchasing an additional 181,252 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Down 1.1 %

NYSE SCCO opened at $96.40 on Thursday. Southern Copper Co. has a 12 month low of $78.82 and a 12 month high of $129.79. The company has a market capitalization of $75.73 billion, a P/E ratio of 22.31, a PEG ratio of 1.89 and a beta of 1.13. The company’s 50 day simple moving average is $94.83 and its 200 day simple moving average is $101.94. 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 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 net margin of 29.53% and a return on equity of 40.27%. Equities research analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current fiscal 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. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.90%. Southern Copper’s dividend payout ratio (DPR) is 64.81%.

Wall Street Analyst Weigh In

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

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.