Black Swift Group LLC Invests $1.71 Million in Southern Copper Co. (NYSE:SCCO)

Black Swift Group LLC acquired a new position in Southern Copper Co. (NYSE:SCCO) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 18,750 shares of the basic materials company’s stock, valued at approximately $1,709,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Creative Financial Designs Inc. ADV lifted its stake in shares of Southern Copper by 172.0% in the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock worth $26,000 after buying an additional 141 shares during the last quarter. Deseret Mutual Benefit Administrators raised its stake in Southern Copper by 210.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 257 shares during the last quarter. IFP Advisors Inc raised its stake in Southern Copper by 143.4% during the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 281 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in Southern Copper during the 3rd quarter valued at $47,000. Finally, Larson Financial Group LLC raised its stake in Southern Copper by 578.3% during the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 347 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Up 5.1 %

SCCO opened at $90.30 on Thursday. The firm’s 50-day simple moving average is $93.95 and its 200-day simple moving average is $101.28. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a twelve month low of $81.12 and a twelve month high of $129.79. The firm has a market cap of $70.93 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.90 and a beta of 1.12.

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

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were issued a $0.70 dividend. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date was Tuesday, February 11th. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. Southern Copper’s dividend payout ratio is presently 64.81%.

Wall Street Analyst Weigh In

Several research firms recently commented on SCCO. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. upgraded shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research note on Monday, December 2nd. Four analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Southern Copper presently has an average rating of “Hold” and an average price target of $94.81.

Southern Copper 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.