Southern Copper Co. (NYSE:SCCO) Stock Holdings Decreased by Tidal Investments LLC

Tidal Investments LLC lowered its stake in Southern Copper Co. (NYSE:SCCO) by 16.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 59,867 shares of the basic materials company’s stock after selling 11,509 shares during the period. Tidal Investments LLC’s holdings in Southern Copper were worth $5,456,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SCCO. State of Wyoming grew its position in shares of Southern Copper by 326.7% during the 4th quarter. State of Wyoming now owns 4,011 shares of the basic materials company’s stock valued at $366,000 after buying an additional 3,071 shares during the last quarter. Sherbrooke Park Advisers LLC grew its position in shares of Southern Copper by 105.4% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 6,566 shares of the basic materials company’s stock valued at $598,000 after buying an additional 3,370 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Southern Copper during the 4th quarter valued at about $2,534,000. Quantinno Capital Management LP grew its position in shares of Southern Copper by 31.0% during the 4th quarter. Quantinno Capital Management LP now owns 11,039 shares of the basic materials company’s stock valued at $1,006,000 after buying an additional 2,615 shares during the last quarter. Finally, Man Group plc grew its position in shares of Southern Copper by 82.5% during the 4th quarter. Man Group plc now owns 50,329 shares of the basic materials company’s stock valued at $4,586,000 after buying an additional 22,750 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Hsbc Global Res raised shares of Southern Copper from a “moderate sell” rating to a “hold” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. lowered their price objective on shares of Southern Copper from $84.00 to $83.50 and set a “neutral” rating for the company in a research report on Monday, April 14th. UBS Group lowered their price objective on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Scotiabank boosted their price objective on shares of 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, StockNews.com cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Southern Copper currently has a consensus rating of “Hold” and an average target price of $91.50.

Southern Copper Price Performance

NYSE SCCO opened at $91.58 on Wednesday. Southern Copper Co. has a 52 week low of $74.11 and a 52 week high of $125.60. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The stock has a market cap of $72.91 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05. The company has a 50-day moving average price of $90.63 and a two-hundred day moving average price of $94.55.

Southern Copper (NYSE:SCCO) last posted its earnings results on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.05 by $0.14. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Analysts forecast that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Announces Dividend

The company also recently announced a dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were given a $0.70 dividend. This represents a yield of 2.98%. The ex-dividend date was Friday, May 2nd. Southern Copper’s dividend payout ratio (DPR) is 61.27%.

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.