Stevens Capital Management LP Acquires New Shares in Southern Copper Co. (NYSE:SCCO)

Stevens Capital Management LP bought a new position in shares of Southern Copper Co. (NYSE:SCCO) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,726 shares of the basic materials company’s stock, valued at approximately $248,000.

Several other institutional investors also recently bought and sold shares of the stock. Nordea Investment Management AB increased its holdings in shares of Southern Copper by 15.3% during the 4th quarter. Nordea Investment Management AB now owns 108,753 shares of the basic materials company’s stock valued at $9,969,000 after acquiring an additional 14,391 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Southern Copper by 384.4% during the third quarter. Two Sigma Advisers LP now owns 90,173 shares of the basic materials company’s stock valued at $10,430,000 after purchasing an additional 71,558 shares during the last quarter. JPMorgan Chase & Co. lifted 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 worth $162,283,000 after buying an additional 599,610 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Southern Copper by 22.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 137,019 shares of the basic materials company’s stock worth $12,487,000 after buying an additional 24,933 shares during the period. Finally, Morse Asset Management Inc acquired a new position in Southern Copper in the 3rd quarter valued at $1,397,000. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Down 0.7 %

Shares of SCCO stock opened at $99.74 on Tuesday. The stock has a market cap of $79.41 billion, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The stock has a fifty day moving average price of $94.37 and a 200 day moving average price of $100.65. Southern Copper Co. has a one year low of $84.33 and a one year 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 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%. Analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current 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 given a dividend of $0.70 per share. The ex-dividend date was Tuesday, February 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 2.81%. Southern Copper’s dividend payout ratio is 64.81%.

Wall Street Analyst Weigh In

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

Southern Copper Company 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.