18,750 Shares in Southern Copper Co. (NYSE:SCCO) Acquired by Black Swift Group LLC

Black Swift Group LLC bought a new position in Southern Copper Co. (NYSE:SCCO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 18,750 shares of the basic materials company’s stock, valued at approximately $1,709,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SCCO. Creative Financial Designs Inc. ADV increased its position in shares of Southern Copper by 172.0% in the third 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. Deseret Mutual Benefit Administrators increased its position in shares of Southern Copper by 210.7% in 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 in the last quarter. Larson Financial Group LLC increased its position 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 worth $47,000 after acquiring an additional 347 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Southern Copper in the third quarter worth approximately $47,000. Finally, Planning Capital Management Corp purchased a new position in shares of Southern Copper in the third quarter worth approximately $52,000. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Performance

Shares of SCCO opened at $90.30 on Thursday. The company’s 50 day moving average price is $93.95 and its 200 day moving average price is $101.28. Southern Copper Co. has a 52 week low of $81.12 and a 52 week high of $129.79. The company has a market capitalization of $70.93 billion, a PE ratio of 20.90, a PEG ratio of 1.90 and a beta of 1.12. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77.

Southern Copper (NYSE:SCCO) last announced 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%. Research analysts expect that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.10%. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, February 11th. Southern Copper’s payout ratio is currently 64.81%.

Wall Street Analyst Weigh In

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