Hansberger Growth Investors LP grew its stake in Southern Copper Corp (NYSE:SCCO) by 5.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,816 shares of the basic materials company’s stock after purchasing an additional 3,076 shares during the period. Southern Copper makes up about 2.4% of Hansberger Growth Investors LP’s portfolio, making the stock its 16th biggest position. Hansberger Growth Investors LP’s holdings in Southern Copper were worth $2,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Southern Copper by 12.3% during the 1st quarter. BlackRock Inc. now owns 7,029,250 shares of the basic materials company’s stock worth $278,922,000 after acquiring an additional 768,391 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Southern Copper by 2.2% during the 4th quarter. Deutsche Bank AG now owns 1,645,479 shares of the basic materials company’s stock worth $50,627,000 after acquiring an additional 35,903 shares during the last quarter. Norges Bank bought a new stake in shares of Southern Copper during the 4th quarter worth approximately $34,968,000. Parametric Portfolio Associates LLC lifted its stake in shares of Southern Copper by 3.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 968,218 shares of the basic materials company’s stock worth $38,419,000 after acquiring an additional 28,667 shares during the last quarter. Finally, Westwood Holdings Group Inc. bought a new stake in shares of Southern Copper during the 1st quarter worth approximately $28,951,000. 6.84% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on SCCO. Zacks Investment Research raised Southern Copper from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Tuesday, April 16th. HSBC raised Southern Copper from a “reduce” rating to a “hold” rating and set a $37.00 target price for the company in a research report on Tuesday, March 19th. TheStreet raised Southern Copper from a “c+” rating to a “b-” rating in a research report on Monday, March 11th. ValuEngine lowered Southern Copper from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Finally, Citigroup raised Southern Copper from a “sell” rating to a “buy” rating and lifted their target price for the company from $33.00 to $41.00 in a research report on Tuesday, February 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Southern Copper has an average rating of “Hold” and a consensus target price of $53.65.
NYSE SCCO traded down $0.24 on Friday, reaching $37.19. 118,626 shares of the stock traded hands, compared to its average volume of 627,781. The company has a quick ratio of 1.91, a current ratio of 2.83 and a debt-to-equity ratio of 0.89. The firm has a market cap of $28.93 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 1.12 and a beta of 0.78. Southern Copper Corp has a 12 month low of $29.01 and a 12 month high of $50.77.
Southern Copper (NYSE:SCCO) last issued its earnings results on Monday, April 29th. The basic materials company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.04). The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.85 billion. Southern Copper had a net margin of 20.84% and a return on equity of 22.04%. On average, research analysts expect that Southern Copper Corp will post 2.43 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were issued a $0.40 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.30%. Southern Copper’s dividend payout ratio is presently 80.00%.
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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 and lead.
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