Entropy Technologies LP Invests $781,000 in Southern Copper Co. (NYSE:SCCO)

Entropy Technologies LP bought a new stake in shares of Southern Copper Co. (NYSE:SCCO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,575 shares of the basic materials company’s stock, valued at approximately $781,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SCCO. Fisher Asset Management LLC lifted its position in Southern Copper by 10.6% during the third quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock valued at $342,796,000 after purchasing an additional 283,562 shares during the last quarter. abrdn plc raised its position in shares of Southern Copper by 4.4% during the 4th quarter. abrdn plc now owns 2,849,638 shares of the basic materials company’s stock valued at $260,428,000 after buying an additional 118,909 shares in the last quarter. State Street Corp lifted its holdings in shares of Southern Copper by 1.0% in the 3rd quarter. State Street Corp now owns 2,728,802 shares of the basic materials company’s stock valued at $315,641,000 after acquiring an additional 27,358 shares during the last quarter. JPMorgan Chase & Co. grew its position in 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 worth $162,283,000 after acquiring an additional 599,610 shares in the last quarter. Finally, Empower Advisory Group LLC increased its stake in Southern Copper by 3.3% during the third quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company’s stock worth $116,140,000 after acquiring an additional 32,314 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SCCO has been the subject of several analyst reports. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research note on Monday, December 2nd. Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. Finally, Scotiabank reduced their target price on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $94.81.

Southern Copper Stock Down 5.1 %

Shares of SCCO opened at $92.09 on Wednesday. The firm has a fifty day moving average price of $95.68 and a 200-day moving average price of $102.27. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $72.34 billion, a P/E ratio of 23.71, a P/E/G ratio of 1.85 and a beta of 1.13. Southern Copper Co. has a 12-month low of $77.42 and a 12-month high of $129.79.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.04%. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date is Tuesday, February 11th. Southern Copper’s payout ratio is 72.16%.

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.