Denali Advisors LLC Raises Holdings in Southern Copper Co. (NYSE:SCCO)

Denali Advisors LLC lifted its holdings in Southern Copper Co. (NYSE:SCCO) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,049 shares of the basic materials company’s stock after buying an additional 2,404 shares during the quarter. Denali Advisors LLC’s holdings in Southern Copper were worth $4,561,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of Southern Copper by 74.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock worth $162,283,000 after purchasing an additional 599,610 shares in the last quarter. Itau Unibanco Holding S.A. boosted its holdings in Southern Copper by 115,910.7% during the third quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company’s stock worth $38,915,000 after buying an additional 336,141 shares in the last quarter. Fisher Asset Management LLC grew its position in Southern Copper by 10.6% during the third quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock worth $342,796,000 after buying an additional 283,562 shares during the period. International Assets Investment Management LLC grew its position in Southern Copper by 11,510.5% during the third quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company’s stock worth $21,944,000 after buying an additional 188,082 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in Southern Copper by 1,601.3% in the third quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock valued at $22,275,000 after buying an additional 181,252 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Up 0.3 %

Shares of NYSE:SCCO opened at $93.16 on Wednesday. The company has a market capitalization of $73.18 billion, a P/E ratio of 21.56, a P/E/G ratio of 1.90 and a beta of 1.13. The stock’s fifty day simple moving average is $94.46 and its 200-day simple moving average is $101.83. Southern Copper Co. has a 52-week low of $78.82 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.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) 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%. As a group, equities research analysts forecast that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be issued a $0.70 dividend. The ex-dividend date is Tuesday, February 11th. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 3.01%. Southern Copper’s payout ratio is 64.81%.

Wall Street Analysts Forecast Growth

SCCO has been the topic of a number of research reports. Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a report 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 company’s stock. According to MarketBeat, Southern Copper currently has an average rating of “Hold” and an average target price 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.