Canada Post Corp Registered Pension Plan Takes $4.80 Million Position in Southern Copper Co. (NYSE:SCCO)

Canada Post Corp Registered Pension Plan acquired a new stake in shares of Southern Copper Co. (NYSE:SCCO) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 52,671 shares of the basic materials company’s stock, valued at approximately $4,800,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCCO. Morse Asset Management Inc bought a new position in Southern Copper in the third quarter valued at about $1,397,000. Geode Capital Management LLC lifted its stake in shares of Southern Copper by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 613,286 shares of the basic materials company’s stock worth $70,437,000 after purchasing an additional 20,204 shares during the period. Coldstream Capital Management Inc. purchased a new position in shares of Southern Copper in the third quarter worth approximately $202,000. Sanctuary Advisors LLC grew its position in Southern Copper by 488.9% during the third quarter. Sanctuary Advisors LLC now owns 30,787 shares of the basic materials company’s stock valued at $3,561,000 after buying an additional 25,559 shares during the period. Finally, Tidal Investments LLC increased its holdings in Southern Copper by 30.8% during the third quarter. Tidal Investments LLC now owns 71,376 shares of the basic materials company’s stock valued at $8,256,000 after buying an additional 16,805 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Scotiabank boosted their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research report on Monday, March 10th. UBS Group raised Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a report on Thursday, March 13th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $94.42.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $84.51 on Monday. The firm has a market cap of $67.28 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 1.90 and a beta of 1.04. The firm has a fifty day moving average price of $92.05 and a 200 day moving average price of $99.00. Southern Copper Co. has a fifty-two week low of $74.84 and a fifty-two week high of $127.34. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share 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%. As a group, sell-side analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.70 per share. 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 3.31%. The ex-dividend date was Tuesday, February 11th. Southern Copper’s dividend payout ratio is currently 64.81%.

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.