Southern Copper Corporation (NYSE:SCCO) Stock Holdings Increased by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 35.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 906 shares of the basic materials company’s stock after acquiring an additional 236 shares during the period. GAMMA Investing LLC’s holdings in Southern Copper were worth $85,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Veracity Capital LLC raised its stake in Southern Copper by 14.3% during the 1st quarter. Veracity Capital LLC now owns 3,214 shares of the basic materials company’s stock valued at $300,000 after acquiring an additional 403 shares in the last quarter. Merit Financial Group LLC raised its stake in Southern Copper by 15.8% during the 1st quarter. Merit Financial Group LLC now owns 14,061 shares of the basic materials company’s stock valued at $1,314,000 after acquiring an additional 1,920 shares in the last quarter. General Pension Society PZU Joint Stock Co raised its stake in Southern Copper by 5.7% during the 1st quarter. General Pension Society PZU Joint Stock Co now owns 377,587 shares of the basic materials company’s stock valued at $35,289,000 after acquiring an additional 20,497 shares in the last quarter. 180 Wealth Advisors LLC raised its stake in Southern Copper by 4.5% during the 1st quarter. 180 Wealth Advisors LLC now owns 4,243 shares of the basic materials company’s stock valued at $397,000 after acquiring an additional 181 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Southern Copper by 0.4% during the 1st quarter. Rhumbline Advisers now owns 180,936 shares of the basic materials company’s stock valued at $16,911,000 after acquiring an additional 660 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of NYSE SCCO opened at $104.57 on Tuesday. The company has a quick ratio of 3.22, a current ratio of 3.71 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $83.26 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 2.37 and a beta of 1.02. The stock’s fifty day simple moving average is $94.69 and its 200 day simple moving average is $93.26. Southern Copper Corporation has a 52-week low of $74.11 and a 52-week high of $118.64.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. Southern Copper had a return on equity of 39.39% and a net margin of 30.00%. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.05 billion. As a group, sell-side analysts forecast that Southern Copper Corporation will post 4.66 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

The firm also recently declared a dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, May 2nd. This represents a dividend yield of 2.98%. Southern Copper’s dividend payout ratio is 61.27%.

Wall Street Analyst Weigh In

SCCO has been the topic of several research analyst reports. Itau BBA Securities upgraded Southern Copper from an “underperform” rating to a “market perform” rating in a research report on Wednesday, June 11th. Wall Street Zen cut Southern Copper from a “buy” rating to a “hold” rating in a research report on Tuesday, May 20th. Hsbc Global Res upgraded Southern Copper from a “moderate sell” rating to a “hold” rating in a research report on Thursday, April 24th. Scotiabank lifted their price target on Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. lowered their price target on Southern Copper from $83.50 to $79.00 and set a “neutral” rating on the stock in a research report on Thursday, July 3rd. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $91.60.

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.