Sensato Investors LLC purchased a new position in shares of Southern Copper Corp (NYSE:SCCO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 413,046 shares of the basic materials company’s stock, valued at approximately $19,599,000. Southern Copper makes up approximately 2.5% of Sensato Investors LLC’s holdings, making the stock its 14th biggest holding.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Comerica Bank bought a new stake in Southern Copper during the fourth quarter valued at about $205,000. Americafirst Capital Management LLC purchased a new position in shares of Southern Copper in the third quarter worth about $166,000. Wetherby Asset Management Inc. purchased a new position in shares of Southern Copper in the fourth quarter worth about $208,000. Lau Associates LLC purchased a new position in shares of Southern Copper in the fourth quarter worth about $216,000. Finally, Checchi Capital Advisers LLC purchased a new position in shares of Southern Copper in the fourth quarter worth about $230,000. 6.86% of the stock is currently owned by institutional investors and hedge funds.
SCCO has been the subject of several research analyst reports. Santander upgraded Southern Copper from a “hold” rating to a “buy” rating in a research note on Monday, December 18th. Zacks Investment Research upgraded Southern Copper from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Friday, February 9th. B. Riley lifted their price target on Southern Copper from $47.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, March 6th. Cowen reiterated a “market perform” rating and set a $53.00 price target (up from $48.00) on shares of Southern Copper in a research report on Wednesday, February 7th. Finally, Citigroup reiterated a “neutral” rating on shares of Southern Copper in a research report on Monday, January 22nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Southern Copper presently has an average rating of “Hold” and an average price target of $46.56.
Shares of Southern Copper Corp (SCCO) opened at $54.39 on Tuesday. The company has a market capitalization of $42,176.41, a P/E ratio of 35.43 and a beta of 0.48. Southern Copper Corp has a 12-month low of $32.63 and a 12-month high of $55.52. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.71 and a quick ratio of 1.82.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, February 12th. This is a boost from Southern Copper’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.21%. Southern Copper’s payout ratio is 77.92%.
Southern Copper Profile
Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.
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