AGF Management Ltd. Purchases 681 Shares of Southern Copper Co. (NYSE:SCCO)

AGF Management Ltd. boosted its stake in Southern Copper Co. (NYSE:SCCO) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 140,057 shares of the basic materials company’s stock after purchasing an additional 681 shares during the period. AGF Management Ltd.’s holdings in Southern Copper were worth $12,763,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of SCCO. Deseret Mutual Benefit Administrators increased its stake in Southern Copper by 210.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 257 shares during the period. IFP Advisors Inc boosted its holdings in Southern Copper by 143.4% in the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 281 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in Southern Copper during the 3rd quarter valued at $47,000. Larson Financial Group LLC grew its stake in shares of Southern Copper by 578.3% in the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 347 shares during the period. Finally, Spire Wealth Management purchased a new stake in Southern Copper during the fourth quarter valued at $47,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Stock Up 0.3 %

Shares of NYSE SCCO opened at $88.74 on Wednesday. The company has a 50 day simple moving average of $93.72 and a 200-day simple moving average of $100.87. The company has a market capitalization of $69.71 billion, a P/E ratio of 20.54, a P/E/G 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. Southern Copper Co. has a 1 year low of $84.33 and a 1 year high of $129.79.

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

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were given 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 dividend on an annualized basis and a yield of 3.16%. Southern Copper’s payout ratio is 64.81%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SCCO shares. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a research report on Monday, December 2nd. Scotiabank boosted their price objective on Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a research note on Monday. Finally, Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $97.31.

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.