2,815 Shares in Southern Copper Co. (NYSE:SCCO) Purchased by Bearing Point Capital LLC

Bearing Point Capital LLC acquired a new position in Southern Copper Co. (NYSE:SCCO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,815 shares of the basic materials company’s stock, valued at approximately $257,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its position in shares of Southern Copper by 28.0% during the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 114 shares during the period. Cadence Wealth Management LLC grew its stake in Southern Copper by 4.1% in the 4th quarter. Cadence Wealth Management LLC now owns 2,919 shares of the basic materials company’s stock valued at $266,000 after acquiring an additional 116 shares during the period. Tyche Wealth Partners LLC increased its holdings in Southern Copper by 0.6% in the 4th quarter. Tyche Wealth Partners LLC now owns 19,807 shares of the basic materials company’s stock worth $1,805,000 after acquiring an additional 122 shares in the last quarter. Yousif Capital Management LLC raised its position in Southern Copper by 0.9% during the fourth quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company’s stock worth $1,311,000 after acquiring an additional 122 shares during the period. Finally, Signaturefd LLC raised its position in shares of Southern Copper by 1.7% during the 4th quarter. Signaturefd LLC now owns 8,043 shares of the basic materials company’s stock worth $733,000 after purchasing an additional 133 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on SCCO shares. JPMorgan Chase & Co. dropped their price target on Southern Copper from $84.00 to $83.50 and set a “neutral” rating for the company in a research report on Monday, April 14th. Hsbc Global Res raised shares of Southern Copper from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 24th. UBS Group cut their price target on Southern Copper from $120.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. StockNews.com lowered Southern Copper from a “buy” rating to a “hold” rating in a research note on Monday, April 28th. Finally, Scotiabank upped their price objective 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $91.50.

Southern Copper Price Performance

Shares of SCCO opened at $90.23 on Monday. Southern Copper Co. has a 1-year low of $74.11 and a 1-year high of $126.09. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The firm has a 50-day simple moving average of $90.39 and a two-hundred day simple moving average of $96.30. The stock has a market cap of $71.84 billion, a PE ratio of 20.89, a P/E/G ratio of 1.90 and a beta of 1.05.

Southern Copper (NYSE:SCCO) last announced its earnings results on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. As a group, analysts forecast that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Monday, May 19th. Stockholders of record on Monday, May 5th will be given a dividend of $0.70 per share. This represents a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, May 2nd. Southern Copper’s dividend payout ratio is currently 61.27%.

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, copper, molybdenum, silver, gold, and lead.