Southern Copper Corporation $SCCO Stock Bought by Fisher Asset Management LLC

Fisher Asset Management LLC raised its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 0.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,811,481 shares of the basic materials company’s stock after buying an additional 22,065 shares during the quarter. Fisher Asset Management LLC owned about 0.34% of Southern Copper worth $569,719,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SCCO. BlackRock Inc. acquired a new position in Southern Copper during the second quarter worth about $1,729,500,000. Bank of America Corp DE purchased a new stake in Southern Copper during the 2nd quarter valued at about $318,448,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Southern Copper by 2.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,290,648 shares of the basic materials company’s stock valued at $224,908,000 after acquiring an additional 27,744 shares during the last quarter. Legal & General Group Plc acquired a new stake in Southern Copper in the 2nd quarter valued at about $149,739,000. Finally, Bollard Group LLC lifted its stake in Southern Copper by 14.0% in the 1st quarter. Bollard Group LLC now owns 861,950 shares of the basic materials company’s stock worth $148,307,000 after purchasing an additional 105,763 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SCCO has been the topic of several recent research reports. Morgan Stanley restated an “underweight” rating and set a $168.22 target price on shares of Southern Copper in a report on Wednesday, October 7th. UBS Group upgraded Southern Copper from a “sell” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Tuesday. Weiss Ratings cut Southern Copper from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 30th. Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Finally, Barclays set a $163.27 price objective on Southern Copper and gave the stock an “underweight” rating in a research report on Monday, October 26th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $159.47.

Southern Copper Stock Performance

Shares of Southern Copper stock opened at $168.16 on Friday. The firm has a market cap of $141.98 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 1.59 and a beta of 1.15. The company has a quick ratio of 3.93, a current ratio of 4.31 and a debt-to-equity ratio of 0.59. Southern Copper Corporation has a 52 week low of $119.25 and a 52 week high of $223.88. The business’s fifty day simple moving average is $192.02 and its 200-day simple moving average is $185.32.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Wednesday, October 21st. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.12. The firm had revenue of $4.70 billion during the quarter, compared to the consensus estimate of $4.49 billion. Southern Copper had a return on equity of 51.61% and a net margin of 37.16%. During the same period last year, the company earned $1.34 EPS. Equities analysts forecast that Southern Copper Corporation will post 8.01 earnings per share for the current year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Tuesday, November 3rd will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.1%. This is a boost from Southern Copper’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Tuesday, November 3rd. Southern Copper’s payout ratio is 68.06%.

Southern Copper Profile

Southern Copper Corporation is an integrated mining company focused primarily on the exploration, mining, processing, and refining of copper. Its operations also produce molybdenum, zinc, lead, silver, and other mineral products. The company operates mines and processing facilities in Peru and Mexico, including the Toquepala and Cuajone operations in Peru and the Buenavista and La Caridad operations in Mexico. Its activities extend across the mining and metals value chain, from extracting ore to producing refined metals and concentrates.