Southern Copper Co. (NYSE:SCCO) Shares Sold by Bank of Montreal Can

by · The Cerbat Gem

Bank of Montreal Can cut its position in shares of Southern Copper Co. (NYSE:SCCO – Free Report) by 11.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 66,311 shares of the basic materials company’s stock after selling 8,635 shares during the quarter. Bank of Montreal Can’s holdings in Southern Copper were worth $6,043,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in Southern Copper by 74.6% during the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock worth $162,283,000 after buying an additional 599,610 shares in the last quarter. Norges Bank bought a new stake in shares of Southern Copper during the 4th quarter worth $52,738,000. Wealthfront Advisers LLC bought a new stake in shares of Southern Copper during the 4th quarter worth $15,197,000. Axiom Investors LLC DE acquired a new stake in shares of Southern Copper during the fourth quarter worth $14,617,000. Finally, abrdn plc lifted its holdings in shares of Southern Copper by 4.4% during the fourth quarter. abrdn plc now owns 2,849,638 shares of the basic materials company’s stock valued at $260,428,000 after purchasing an additional 118,909 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

NYSE SCCO opened at $87.86 on Tuesday. The company has a 50 day simple moving average of $91.94 and a 200-day simple moving average of $98.79. Southern Copper Co. has a 52-week low of $74.84 and a 52-week high of $127.34. The firm has a market capitalization of $69.95 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. 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 (NYSE:SCCO – Get Free Report) last released its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. Equities research analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were given a dividend of $0.70 per share. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date was Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a yield of 3.19%. Southern Copper’s dividend payout ratio (DPR) is presently 64.81%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. UBS Group raised Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Thursday, March 13th. Scotiabank boosted their price target on shares of Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Southern Copper from $84.00 to $83.50 and set a “neutral” rating for the company in a research note on Monday. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $92.92.

Read Our Latest Stock Analysis on SCCO

Southern Copper Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding SCCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Copper Co. (NYSE:SCCO – Free Report).