Southern Copper Co. (NYSE:SCCO) Shares Bought by International Assets Investment Management LLC

International Assets Investment Management LLC raised its stake in Southern Copper Co. (NYSE:SCCO) by 8,523.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 172,907 shares of the basic materials company’s stock after purchasing an additional 170,902 shares during the quarter. International Assets Investment Management LLC’s holdings in Southern Copper were worth $14,882,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. AQR Capital Management LLC lifted its position in Southern Copper by 7.0% in the third quarter. AQR Capital Management LLC now owns 80,682 shares of the basic materials company’s stock valued at $6,075,000 after buying an additional 5,296 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Southern Copper by 119.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 41,223 shares of the basic materials company’s stock worth $3,548,000 after purchasing an additional 22,471 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Southern Copper by 17.5% during the third quarter. Ameriprise Financial Inc. now owns 687,501 shares of the basic materials company’s stock worth $51,854,000 after purchasing an additional 102,286 shares in the last quarter. Viking Fund Management LLC acquired a new stake in shares of Southern Copper during the fourth quarter worth about $31,000. Finally, LPL Financial LLC lifted its position in shares of Southern Copper by 22.1% during the third quarter. LPL Financial LLC now owns 89,468 shares of the basic materials company’s stock worth $6,736,000 after purchasing an additional 16,168 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

SCCO has been the topic of several research reports. The Goldman Sachs Group increased their price target on shares of Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a research report on Friday, March 22nd. Jefferies Financial Group raised shares of Southern Copper from a “hold” rating to a “buy” rating and increased their price target for the stock from $91.00 to $130.00 in a research report on Friday, March 22nd. JPMorgan Chase & Co. reduced their price target on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a research report on Thursday, March 21st. Finally, StockNews.com cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Southern Copper presently has an average rating of “Hold” and a consensus target price of $76.83.

Southern Copper Stock Up 0.7 %

SCCO stock opened at $116.97 on Friday. The company’s 50 day moving average price is $92.74 and its 200 day moving average price is $82.53. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.46 and a current ratio of 3.19. Southern Copper Co. has a fifty-two week low of $64.66 and a fifty-two week high of $117.86. The firm has a market capitalization of $90.43 billion, a price-to-earnings ratio of 37.25 and a beta of 1.29.

Southern Copper (NYSE:SCCO) last released its earnings results on Friday, February 2nd. The basic materials company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). Southern Copper had a return on equity of 30.85% and a net margin of 24.51%. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.37 billion. On average, equities research analysts anticipate that Southern Copper Co. will post 3.67 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 13th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.74%. Southern Copper’s payout ratio is 101.91%.

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.