D.A. Davidson & CO. Has $2.09 Million Stock Position in Southern Copper Co. (NYSE:SCCO)

D.A. Davidson & CO. increased its stake in shares of Southern Copper Co. (NYSE:SCCO) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,947 shares of the basic materials company’s stock after buying an additional 172 shares during the period. D.A. Davidson & CO.’s holdings in Southern Copper were worth $2,091,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SCCO. Sequoia Financial Advisors LLC lifted its position in Southern Copper by 5.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,918 shares of the basic materials company’s stock valued at $453,000 after purchasing an additional 204 shares during the period. International Assets Investment Management LLC lifted its position in Southern Copper by 11,510.5% during the 3rd quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company’s stock valued at $21,944,000 after purchasing an additional 188,082 shares during the period. IFM Investors Pty Ltd lifted its position in Southern Copper by 100.4% during the 3rd quarter. IFM Investors Pty Ltd now owns 11,468 shares of the basic materials company’s stock valued at $1,327,000 after purchasing an additional 5,746 shares during the period. Outlook Wealth Advisors LLC lifted its position in Southern Copper by 11.3% during the 3rd quarter. Outlook Wealth Advisors LLC now owns 3,295 shares of the basic materials company’s stock valued at $381,000 after purchasing an additional 335 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Southern Copper by 26.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,299 shares of the basic materials company’s stock valued at $2,532,000 after purchasing an additional 4,429 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Performance

Shares of NYSE:SCCO opened at $92.87 on Friday. The company has a market capitalization of $72.95 billion, a price-to-earnings ratio of 21.50, a P/E/G ratio of 1.87 and a beta of 1.13. The firm’s 50 day simple moving average is $94.61 and its 200 day simple moving average is $101.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. Southern Copper Co. has a fifty-two week low of $78.82 and a fifty-two week high of $129.79.

Southern Copper (NYSE:SCCO) last posted its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (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 year.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Tuesday, February 11th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.02%. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date is Tuesday, February 11th. Southern Copper’s dividend payout ratio is presently 64.81%.

Analyst Ratings Changes

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