SVB Wealth LLC Takes $229,000 Position in Southern Copper Co. (NYSE:SCCO)

SVB Wealth LLC bought a new stake in Southern Copper Co. (NYSE:SCCO) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 2,517 shares of the basic materials company’s stock, valued at approximately $229,000.

Other hedge funds also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Southern Copper by 7.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 230,495 shares of the basic materials company’s stock valued at $26,661,000 after purchasing an additional 15,386 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Southern Copper by 15.3% in the fourth quarter. Nordea Investment Management AB now owns 108,753 shares of the basic materials company’s stock valued at $9,969,000 after purchasing an additional 14,391 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Southern Copper by 384.4% in 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 in the last quarter. JPMorgan Chase & Co. lifted 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 valued at $162,283,000 after purchasing an additional 599,610 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Southern Copper by 22.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 137,019 shares of the basic materials company’s stock worth $12,487,000 after acquiring an additional 24,933 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Up 5.1 %

Southern Copper stock opened at $90.30 on Thursday. 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 company has a market capitalization of $70.93 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a one year low of $81.12 and a one year high of $129.79. The company’s fifty day moving average price is $93.95 and its two-hundred day moving average price is $101.28.

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%. On average, 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. Shareholders of record on Tuesday, February 11th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.10%. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, February 11th. Southern Copper’s dividend payout ratio is presently 64.81%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SCCO shares. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $106.30 to $102.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target on the stock in a research note on Monday, December 2nd. Four investment 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.