Southern Copper Corporation $SCCO Stock Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC boosted its stake in Southern Copper Corporation (NYSE:SCCO) by 0.8% in the 3rd quarter, Holdings Channel reports. The firm owned 2,811,481 shares of the basic materials company’s stock after purchasing an additional 22,065 shares during the period. Fisher Asset Management LLC’s holdings in Southern Copper were worth $569,719,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Southern Copper in the 2nd quarter valued at $1,078,000. Fund Advisors of America Inc FL acquired a new position in Southern Copper during the 2nd quarter worth about $870,000. RFG Advisory LLC boosted its holdings in Southern Copper by 143.7% during the 2nd quarter. RFG Advisory LLC now owns 21,727 shares of the basic materials company’s stock valued at $3,786,000 after acquiring an additional 12,811 shares during the period. HighTower Advisors LLC boosted its holdings in Southern Copper by 11.9% during the 2nd quarter. HighTower Advisors LLC now owns 58,421 shares of the basic materials company’s stock valued at $10,180,000 after acquiring an additional 6,195 shares during the period. Finally, Equitable Holdings Inc. purchased a new position in Southern Copper during the 2nd quarter valued at about $505,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Down 2.6%

NYSE:SCCO opened at $168.16 on Friday. Southern Copper Corporation has a 12-month low of $119.25 and a 12-month high of $223.88. The firm has a market cap of $141.98 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 1.59 and a beta of 1.15. The company has a current ratio of 4.31, a quick ratio of 3.93 and a debt-to-equity ratio of 0.59. The stock has a fifty day moving average price of $192.02 and a 200 day moving average price of $185.32.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, October 21st. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.12. The company had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.49 billion. Southern Copper had a return on equity of 51.61% and a net margin of 37.16%. During the same quarter last year, the company earned $1.34 EPS. Sell-side analysts anticipate that Southern Copper Corporation will post 8.01 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Tuesday, November 3rd will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 3rd. This is a positive change from Southern Copper’s previous quarterly dividend of $1.10. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.1%. Southern Copper’s payout ratio is currently 68.06%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. UBS Group upgraded shares of Southern Copper from a “sell” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Tuesday. Barclays set a $163.27 price objective on shares of Southern Copper and gave the company an “underweight” rating in a research note on Monday, October 26th. Weiss Ratings cut shares of Southern Copper from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 30th. Morgan Stanley restated an “underweight” rating and issued a $168.22 price objective on shares of Southern Copper in a report on Wednesday, October 7th. Finally, Wall Street Zen downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $159.47.

About Southern Copper

Southern Copper Corporation is an integrated mining company focused primarily on the exploration, mining, processing, and refining of copper. Its operations also produce molybdenum, zinc, lead, silver, and other mineral products. The company operates mines and processing facilities in Peru and Mexico, including the Toquepala and Cuajone operations in Peru and the Buenavista and La Caridad operations in Mexico. Its activities extend across the mining and metals value chain, from extracting ore to producing refined metals and concentrates.