Lester Murray Antman dba SimplyRich Boosts Holdings in Southern Copper Co. (NYSE:SCCO)

Lester Murray Antman dba SimplyRich lifted its stake in shares of Southern Copper Co. (NYSE:SCCO) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,176 shares of the basic materials company’s stock after purchasing an additional 161 shares during the period. Southern Copper comprises 0.7% of Lester Murray Antman dba SimplyRich’s investment portfolio, making the stock its 25th biggest position. Lester Murray Antman dba SimplyRich’s holdings in Southern Copper were worth $2,567,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of SCCO. Sanctuary Advisors LLC purchased a new position in Southern Copper in the 2nd quarter valued at $611,000. GAMMA Investing LLC raised its position in shares of Southern Copper by 53.0% in the third quarter. GAMMA Investing LLC now owns 517 shares of the basic materials company’s stock valued at $60,000 after buying an additional 179 shares during the last quarter. Brookstone Capital Management lifted its stake in shares of Southern Copper by 4.7% in the third quarter. Brookstone Capital Management now owns 3,047 shares of the basic materials company’s stock worth $352,000 after buying an additional 137 shares in the last quarter. Empirical Asset Management LLC boosted its position in Southern Copper by 12.0% during the third quarter. Empirical Asset Management LLC now owns 2,859 shares of the basic materials company’s stock worth $331,000 after acquiring an additional 306 shares during the last quarter. Finally, Creative Planning grew its stake in Southern Copper by 4.4% during the 3rd quarter. Creative Planning now owns 49,328 shares of the basic materials company’s stock valued at $5,706,000 after acquiring an additional 2,092 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a research note on Monday, December 2nd. Scotiabank reduced their price objective on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, October 15th. Finally, Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and lowered their price objective for the stock from $106.30 to $102.00 in a research note on Thursday, December 12th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $94.81.

Southern Copper Price Performance

SCCO stock opened at $92.09 on Wednesday. Southern Copper Co. has a 52-week low of $77.42 and a 52-week high of $129.79. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The stock has a market cap of $72.34 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 1.85 and a beta of 1.13. The business has a fifty day moving average of $95.68 and a two-hundred day moving average of $102.27.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Tuesday, February 11th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.04%. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date is Tuesday, February 11th. Southern Copper’s dividend payout ratio (DPR) is presently 72.09%.

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.