Southern Copper Co. (NYSE:SCCO) Holdings Trimmed by Convergence Investment Partners LLC

Convergence Investment Partners LLC lowered its holdings in Southern Copper Co. (NYSE:SCCO) by 13.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,704 shares of the basic materials company’s stock after selling 2,314 shares during the period. Convergence Investment Partners LLC’s holdings in Southern Copper were worth $1,340,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Creative Financial Designs Inc. ADV boosted its stake in shares of Southern Copper by 172.0% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after buying an additional 141 shares during the period. Oakworth Capital Inc. purchased a new position in Southern Copper in the third quarter valued at about $42,000. Prospera Private Wealth LLC acquired a new position in Southern Copper in the 3rd quarter worth about $47,000. Larson Financial Group LLC raised its stake in shares of Southern Copper by 578.3% during the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 347 shares in the last quarter. Finally, Spire Wealth Management bought a new stake in shares of Southern Copper in the 4th quarter valued at approximately $47,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Down 1.1 %

Shares of Southern Copper stock opened at $96.40 on Thursday. The company has a market cap of $75.73 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.89 and a beta of 1.13. Southern Copper Co. has a 1 year low of $78.82 and a 1 year high of $129.79. The company’s fifty day simple moving average is $94.83 and its 200-day simple moving average is $101.94. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. As a group, sell-side analysts expect that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th will be issued a $0.70 dividend. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date is Tuesday, February 11th. This represents a $2.80 annualized dividend and a dividend yield of 2.90%. Southern Copper’s dividend payout ratio is presently 64.81%.

Analysts Set New Price Targets

Several analysts have commented on SCCO shares. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Southern Copper currently has a consensus rating of “Hold” and an average price target of $94.81.

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.