Fisher Asset Management LLC Sells 20,092 Shares of Southern Copper Co. (NYSE:SCCO)

Fisher Asset Management LLC reduced its stake in Southern Copper Co. (NYSE:SCCO) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,943,480 shares of the basic materials company’s stock after selling 20,092 shares during the quarter. Fisher Asset Management LLC owned approximately 0.37% of Southern Copper worth $268,239,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV increased its stake in Southern Copper by 172.0% in the 3rd 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 in the last quarter. Deseret Mutual Benefit Administrators increased its stake in Southern Copper by 210.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock worth $35,000 after buying an additional 257 shares in the last quarter. IFP Advisors Inc increased its stake in Southern Copper by 143.4% in the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock worth $43,000 after buying an additional 281 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in Southern Copper in the 3rd quarter worth $47,000. Finally, Larson Financial Group LLC increased its stake in Southern Copper by 578.3% in the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock worth $47,000 after buying an additional 347 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

Southern Copper Trading Down 1.9 %

Shares of Southern Copper stock opened at $88.78 on Friday. The firm has a market cap of $69.74 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 1.90 and a beta of 1.13. The business has a 50-day moving average price of $94.35 and a 200-day moving average price of $101.61. 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 Co. has a twelve month low of $79.33 and a twelve month high of $129.79.

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

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were issued a $0.70 dividend. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date was Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.15%. Southern Copper’s dividend payout ratio (DPR) is presently 64.81%.

Analyst Ratings Changes

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

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.