denkapparat Operations GmbH Makes New Investment in Southern Copper Co. (NYSE:SCCO)

denkapparat Operations GmbH purchased a new position in Southern Copper Co. (NYSE:SCCO) in the 4th quarter, HoldingsChannel reports. The fund purchased 3,500 shares of the basic materials company’s stock, valued at approximately $319,000.

Other large investors have also modified their holdings of the company. abrdn plc increased its position in shares of Southern Copper by 4.4% in the 4th 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. State Street Corp raised its stake in Southern Copper by 1.0% in the third quarter. State Street Corp now owns 2,728,802 shares of the basic materials company’s stock valued at $315,641,000 after buying an additional 27,358 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Southern Copper by 74.6% during the 3rd 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 during the last quarter. Vanguard Group Inc. boosted its position in shares of Southern Copper by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 972,657 shares of the basic materials company’s stock worth $88,638,000 after acquiring an additional 18,426 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Southern Copper by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 613,286 shares of the basic materials company’s stock valued at $70,437,000 after acquiring an additional 20,204 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

SCCO has been the topic of several recent analyst reports. Scotiabank increased their price target on shares of Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research note on Monday, March 10th. UBS Group raised shares of Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Thursday, March 13th. JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a research report on Monday, December 2nd. Finally, Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Southern Copper currently has a consensus rating of “Hold” and an average target price of $94.42.

Southern Copper Price Performance

Shares of SCCO opened at $96.90 on Friday. The company has a market capitalization of $77.15 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a fifty-two week low of $84.33 and a fifty-two week high of $127.34. The firm has a 50-day simple moving average of $94.49 and a 200-day simple moving average of $100.65. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77.

Southern Copper (NYSE:SCCO) last announced its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. On average, equities research analysts anticipate that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a yield of 2.89%. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio is presently 64.81%.

Southern Copper 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.