Fractal Investments LLC Has $353,000 Stock Position in Southern Copper Co. (NYSE:SCCO)

Fractal Investments LLC trimmed its position in Southern Copper Co. (NYSE:SCCO) by 10.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,100 shares of the basic materials company’s stock after selling 481 shares during the quarter. Fractal Investments LLC’s holdings in Southern Copper were worth $353,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCCO. Cumberland Partners Ltd bought a new position in Southern Copper during the fourth quarter worth about $1,947,000. CWM LLC boosted its holdings in Southern Copper by 3.3% during the fourth quarter. CWM LLC now owns 4,329 shares of the basic materials company’s stock worth $373,000 after buying an additional 137 shares during the last quarter. abrdn plc boosted its holdings in Southern Copper by 2.3% during the fourth quarter. abrdn plc now owns 3,041,233 shares of the basic materials company’s stock worth $261,759,000 after buying an additional 67,930 shares during the last quarter. Vantage Investment Partners LLC boosted its holdings in Southern Copper by 1.5% during the fourth quarter. Vantage Investment Partners LLC now owns 171,495 shares of the basic materials company’s stock worth $14,761,000 after buying an additional 2,511 shares during the last quarter. Finally, Tyche Wealth Partners LLC bought a new position in Southern Copper during the fourth quarter worth about $1,668,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on SCCO. Scotiabank raised their target price on Southern Copper from $53.00 to $55.00 and gave the stock a “sector underperform” rating in a report on Thursday, April 18th. StockNews.com cut Southern Copper from a “buy” rating to a “hold” rating in a report on Monday, February 5th. JPMorgan Chase & Co. cut their price objective on Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a report on Thursday, March 21st. CICC Research initiated coverage on Southern Copper in a report on Wednesday. They set an “outperform” rating on the stock. Finally, HSBC cut Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective on the stock. in a report on Monday. Five analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $76.00.

Southern Copper Stock Down 0.4 %

NYSE SCCO traded down $0.39 during trading on Wednesday, hitting $109.25. The stock had a trading volume of 1,499,169 shares, compared to its average volume of 1,130,960. The company has a market capitalization of $84.46 billion, a PE ratio of 34.79, a P/E/G ratio of 3.20 and a beta of 1.29. The company’s 50-day moving average price is $98.56 and its two-hundred day moving average price is $85.07. 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 12 month low of $64.66 and a 12 month high of $120.37.

Southern Copper (NYSE:SCCO) last released its earnings results on Friday, February 2nd. The basic materials company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.15). The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.37 billion. Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. As a group, sell-side analysts forecast that Southern Copper Co. will post 3.95 EPS for the current year.

Southern Copper Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 13th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Monday, February 12th. Southern Copper’s dividend payout ratio (DPR) 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.