Southern Copper Co. (NYSE:SCCO) Shares Purchased by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC grew its position in shares of Southern Copper Co. (NYSE:SCCO) by 9.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,381 shares of the basic materials company’s stock after purchasing an additional 567 shares during the period. Fidelis Capital Partners LLC’s holdings in Southern Copper were worth $574,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC lifted its stake in Southern Copper by 10.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock worth $342,796,000 after acquiring an additional 283,562 shares in the last quarter. abrdn plc increased its stake in Southern Copper by 4.4% during the fourth quarter. abrdn plc now owns 2,849,638 shares of the basic materials company’s stock worth $260,428,000 after purchasing an additional 118,909 shares during the period. State Street Corp lifted its position in shares of Southern Copper by 1.0% during the third quarter. State Street Corp now owns 2,728,802 shares of the basic materials company’s stock worth $315,641,000 after purchasing an additional 27,358 shares in the last quarter. JPMorgan Chase & Co. boosted its stake 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 valued at $162,283,000 after purchasing an additional 599,610 shares during the period. Finally, Empower Advisory Group LLC boosted its holdings in Southern Copper by 3.3% in the third quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company’s stock valued at $116,140,000 after purchasing an additional 32,314 shares during the period. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Price Performance

SCCO stock opened at $86.57 on Tuesday. The business has a 50 day moving average price of $94.21 and a 200 day moving average price of $101.49. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The stock has a market cap of $68.00 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.90 and a beta of 1.13. Southern Copper Co. has a fifty-two week low of $79.33 and a fifty-two week high of $129.79.

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 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%. Equities research analysts anticipate that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.23%. 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. Southern Copper’s dividend payout ratio is currently 64.81%.

Analyst Ratings Changes

Several equities research analysts have weighed in on SCCO shares. 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 report on Thursday, December 12th. 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 note on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus 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.