Keystone Investors PTE Ltd. Buys 731 Shares of Southern Copper Co. (NYSE:SCCO)

Keystone Investors PTE Ltd. lifted its stake in Southern Copper Co. (NYSE:SCCO) by 36.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,747 shares of the basic materials company’s stock after acquiring an additional 731 shares during the quarter. Keystone Investors PTE Ltd.’s holdings in Southern Copper were worth $250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Fisher Asset Management LLC boosted its holdings in Southern Copper by 10.6% in 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 purchasing an additional 283,562 shares during the last quarter. abrdn plc lifted its holdings in shares of Southern Copper by 4.4% during the 4th quarter. abrdn plc now owns 2,849,638 shares of the basic materials company’s stock valued at $260,428,000 after buying an additional 118,909 shares during the period. State Street Corp boosted its stake in shares of Southern Copper by 1.0% in the 3rd quarter. State Street Corp now owns 2,728,802 shares of the basic materials company’s stock worth $315,641,000 after buying an additional 27,358 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Southern Copper by 74.6% in the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock worth $162,283,000 after acquiring an additional 599,610 shares during the period. Finally, Vanguard Group Inc. increased its position in Southern Copper by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 972,657 shares of the basic materials company’s stock valued at $88,638,000 after acquiring an additional 18,426 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Performance

SCCO opened at $99.74 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The stock has a market capitalization of $79.41 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 1.90 and a beta of 1.12. The company has a fifty day moving average of $94.37 and a 200 day moving average of $100.65. Southern Copper Co. has a fifty-two week low of $84.33 and a fifty-two week high of $127.34.

Southern Copper (NYSE:SCCO) last posted its 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 return on equity of 40.27% and a net margin of 29.53%. As a group, sell-side 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 announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were issued a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.81%. Southern Copper’s payout ratio is 64.81%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SCCO shares. UBS Group upgraded Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Thursday, March 13th. JPMorgan Chase & Co. upgraded shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a research report on Monday, December 2nd. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their price objective for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. Finally, Scotiabank upped their target price on shares of Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a report on Monday, March 10th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $94.42.

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.