Point72 Hong Kong Ltd Buys Shares of 27,804 Southern Copper Co. (NYSE:SCCO)

Point72 Hong Kong Ltd purchased a new stake in shares of Southern Copper Co. (NYSE:SCCO) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 27,804 shares of the basic materials company’s stock, valued at approximately $2,534,000.

A number of other hedge funds also recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Southern Copper in the fourth quarter valued at $30,000. Deseret Mutual Benefit Administrators grew its position 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 worth $35,000 after purchasing an additional 257 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of 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 acquiring an additional 281 shares in the last quarter. Spire Wealth Management purchased a new position in shares of Southern Copper during the 4th quarter valued at $47,000. Finally, Larson Financial Group LLC grew its holdings in shares of Southern Copper by 28.0% during the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 114 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SCCO shares. StockNews.com upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Monday. 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. UBS Group lowered their price target on Southern Copper from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price target on Southern Copper from $84.00 to $83.50 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, Scotiabank increased their price target on shares of Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a research report on Monday, March 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $91.50.

Southern Copper Price Performance

Shares of Southern Copper stock opened at $92.23 on Friday. 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 capitalization of $73.43 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 1.90 and a beta of 1.05. Southern Copper Co. has a 1-year low of $74.11 and a 1-year high of $126.09. The firm’s 50-day moving average price is $90.59 and its two-hundred day moving average price is $95.08.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 earnings per share 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. On average, equities analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be paid a $0.70 dividend. The ex-dividend date is Friday, May 2nd. This represents a yield of 2.98%. Southern Copper’s payout ratio is presently 61.27%.

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.