Fidelis Capital Partners LLC Increases Stock Position in Southern Copper Co. (NYSE:SCCO)

Fidelis Capital Partners LLC boosted its holdings in Southern Copper Co. (NYSE:SCCO) by 9.8% in the 4th quarter, Holdings Channel reports. The firm owned 6,381 shares of the basic materials company’s stock after purchasing an additional 567 shares during the period. Fidelis Capital Partners LLC’s holdings in Southern Copper were worth $574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of SCCO. Fisher Asset Management LLC raised its holdings in shares of Southern Copper by 10.6% in the third quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock valued at $342,796,000 after buying an additional 283,562 shares during the last quarter. abrdn plc increased its position in Southern Copper by 4.4% in the 4th quarter. abrdn plc now owns 2,849,638 shares of the basic materials company’s stock valued at $260,428,000 after acquiring an additional 118,909 shares during the period. State Street Corp raised its stake in Southern Copper by 1.0% during the 3rd quarter. State Street Corp now owns 2,728,802 shares of the basic materials company’s stock valued at $315,641,000 after acquiring an additional 27,358 shares during the last quarter. JPMorgan Chase & Co. lifted its position 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 acquiring an additional 599,610 shares during the period. Finally, Empower Advisory Group LLC grew its stake in shares of Southern Copper by 3.3% in the 3rd quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company’s stock valued at $116,140,000 after purchasing an additional 32,314 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SCCO. Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price target for the stock 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 price objective on the stock in a research note on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Southern Copper currently has an average rating of “Hold” and a consensus target price of $94.81.

Southern Copper Stock Down 2.7 %

Shares of NYSE SCCO opened at $86.57 on Tuesday. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $94.21 and a 200 day moving average price of $101.49. Southern Copper Co. has a 52 week low of $79.33 and a 52 week high of $129.79. The stock has a market capitalization of $68.00 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.90 and a beta of 1.13.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 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%. Equities research analysts anticipate that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were issued 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 was Tuesday, February 11th. This represents a $2.80 annualized dividend and a yield of 3.23%. Southern Copper’s dividend payout ratio is 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.