Southern Copper Co. (NYSE:SCCO) Position Lessened by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lowered its stake in shares of Southern Copper Co. (NYSE:SCCO) by 5.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,829 shares of the basic materials company’s stock after selling 550 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Southern Copper were worth $896,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Boussard & Gavaudan Investment Management LLP acquired a new position in shares of Southern Copper during the fourth quarter valued at $2,862,000. New Age Alpha Advisors LLC acquired a new position in Southern Copper during the 4th quarter valued at about $209,000. Norges Bank bought a new position in Southern Copper in the 4th quarter worth about $52,738,000. Sava Infond d.o.o. acquired a new stake in shares of Southern Copper in the fourth quarter valued at approximately $1,827,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Southern Copper by 0.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 76,215 shares of the basic materials company’s stock valued at $7,013,000 after buying an additional 469 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. Scotiabank raised their price target on Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a report on Monday, March 10th. Finally, UBS Group raised shares of Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Thursday, March 13th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $94.42.

Southern Copper Trading Up 0.6 %

Shares of Southern Copper stock opened at $94.41 on Thursday. The business has a fifty day simple moving average of $94.18 and a 200-day simple moving average of $100.61. The firm has a market cap of $75.17 billion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a fifty-two week low of $84.33 and a fifty-two week high of $127.34. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share 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 forecast that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were issued a $0.70 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.80 annualized dividend and a dividend yield of 2.97%. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio is currently 64.81%.

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.