Andra AP fonden Boosts Stake in Southern Copper Co. (NYSE:SCCO)

Andra AP fonden lifted its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 1.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 147,821 shares of the basic materials company’s stock after purchasing an additional 1,521 shares during the quarter. Andra AP fonden’s holdings in Southern Copper were worth $15,926,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Fortis Group Advisors LLC raised its position in Southern Copper by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 151 shares during the period. Fidelis Capital Partners LLC purchased a new stake in shares of Southern Copper in the 1st quarter valued at $26,000. Riverview Trust Co acquired a new position in Southern Copper during the 1st quarter worth about $27,000. Hanseatic Management Services Inc. purchased a new position in Southern Copper during the 2nd quarter valued at about $53,000. Finally, EverSource Wealth Advisors LLC grew its position in Southern Copper by 52.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,069 shares of the basic materials company’s stock valued at $92,000 after acquiring an additional 369 shares in the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. StockNews.com raised shares of Southern Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. Morgan Stanley raised their price target on shares of Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a research report on Friday, June 21st. Scotiabank reduced their price objective on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, May 21st. Finally, UBS Group initiated coverage on Southern Copper in a report on Friday, July 12th. They issued a “neutral” rating and a $120.00 target price for the company. Five equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $89.57.

Southern Copper Price Performance

Shares of SCCO opened at $94.34 on Wednesday. Southern Copper Co. has a twelve month low of $68.93 and a twelve month high of $129.79. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $73.69 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 0.96 and a beta of 1.17. The firm’s fifty day simple moving average is $104.42 and its 200-day simple moving average is $106.88.

Southern Copper (NYSE:SCCO) last issued its earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.09. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $2.96 billion. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. Equities analysts forecast that Southern Copper Co. will post 4.33 EPS for the current fiscal year.

Southern Copper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Friday, August 9th. Southern Copper’s payout ratio is 79.73%.

About Southern Copper

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.