Y Intercept Hong Kong Ltd Purchases 31,530 Shares of Southern Copper Co. (NYSE:SCCO)

Y Intercept Hong Kong Ltd raised its position in Southern Copper Co. (NYSE:SCCO) by 536.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,410 shares of the basic materials company’s stock after purchasing an additional 31,530 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Southern Copper were worth $3,409,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SCCO. Deseret Mutual Benefit Administrators boosted its holdings in shares of Southern Copper by 210.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after buying an additional 257 shares during the period. Cumberland Partners Ltd boosted its holdings in shares of Southern Copper by 0.6% in the fourth quarter. Cumberland Partners Ltd now owns 24,683 shares of the basic materials company’s stock valued at $2,249,000 after buying an additional 151 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Southern Copper by 0.6% in the fourth quarter. New York State Common Retirement Fund now owns 141,853 shares of the basic materials company’s stock valued at $12,927,000 after buying an additional 872 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Southern Copper by 34.1% in the fourth quarter. Venturi Wealth Management LLC now owns 4,060 shares of the basic materials company’s stock valued at $370,000 after buying an additional 1,032 shares during the period. Finally, D.A. Davidson & CO. boosted its holdings in shares of Southern Copper by 0.8% in the fourth quarter. D.A. Davidson & CO. now owns 22,947 shares of the basic materials company’s stock valued at $2,091,000 after buying an additional 172 shares during the period. Institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

SCCO has been the subject of several recent research reports. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $106.30 to $102.00 in a report 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 report on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $94.81.

Southern Copper Price Performance

Shares of SCCO opened at $92.87 on Monday. Southern Copper Co. has a fifty-two week low of $78.82 and a fifty-two week high of $129.79. The firm has a market capitalization of $72.95 billion, a PE ratio of 21.50, a PEG ratio of 1.90 and a beta of 1.13. The company’s 50-day moving average is $94.61 and its 200-day moving average is $101.93. 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 (NYSE:SCCO) last released its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 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%. Equities analysts forecast that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders 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 an increase 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%.

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.