Aigen Investment Management LP Has $1.62 Million Stock Position in Southern Copper Co. (NYSE:SCCO)

Aigen Investment Management LP raised its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 14.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,825 shares of the basic materials company’s stock after purchasing an additional 2,183 shares during the period. Aigen Investment Management LP’s holdings in Southern Copper were worth $1,624,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Creative Financial Designs Inc. ADV boosted its stake in Southern Copper by 172.0% in the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 141 shares during the last quarter. Deseret Mutual Benefit Administrators increased its holdings in 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 purchasing an additional 257 shares during the last quarter. IFP Advisors Inc lifted its stake in Southern Copper by 143.4% in the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock valued at $43,000 after buying an additional 281 shares during the period. Prospera Private Wealth LLC bought a new position in Southern Copper during the third quarter worth about $47,000. Finally, Larson Financial Group LLC grew its position in shares of Southern Copper by 578.3% during the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock worth $47,000 after buying an additional 347 shares during the period. Institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Down 0.9 %

Southern Copper stock opened at $85.95 on Wednesday. The company has a market cap of $67.51 billion, a price-to-earnings ratio of 19.89, a P/E/G ratio of 1.90 and a beta of 1.13. The firm has a 50-day moving average of $94.04 and a 200-day moving average of $101.36. 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 one year low of $79.59 and a one year high of $129.79.

Southern Copper (NYSE:SCCO) last issued its quarterly 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 net margin of 29.53% and a return on equity of 40.27%. On average, equities analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were paid a $0.70 dividend. The ex-dividend date was Tuesday, February 11th. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a dividend yield of 3.26%. Southern Copper’s dividend payout ratio (DPR) is currently 64.81%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their price objective 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 for the company in a report on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus 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.