MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Stock Holdings in Southern Copper Co. (NYSE:SCCO)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Southern Copper Co. (NYSE:SCCO) by 10.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,354,637 shares of the basic materials company’s stock after purchasing an additional 130,710 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Southern Copper were worth $123,448,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Southern Copper during the 4th quarter valued at about $30,000. Deseret Mutual Benefit Administrators grew its position in shares of Southern Copper by 210.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 257 shares in the last quarter. IFP Advisors Inc lifted its stake in Southern Copper by 143.4% during the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 281 shares in the last quarter. Spire Wealth Management acquired a new position in Southern Copper during the fourth quarter worth $47,000. Finally, Larson Financial Group LLC raised its holdings in Southern Copper by 28.0% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $89.34 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 business’s fifty day moving average price is $90.37 and its two-hundred day moving average price is $95.43. The firm has a market capitalization of $71.13 billion, a PE ratio of 20.68, 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 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.14. Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.05 billion. On average, research analysts expect that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Dividend Announcement

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

Analyst Upgrades and Downgrades

SCCO has been the subject of a number of research analyst reports. StockNews.com downgraded Southern Copper from a “buy” rating to a “hold” rating in a report on Monday, April 28th. UBS Group dropped their price objective on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price objective on shares of Southern Copper from $84.00 to $83.50 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Hsbc Global Res upgraded shares of Southern Copper from a “moderate sell” rating to a “hold” rating in a research report on Thursday, April 24th. Finally, Scotiabank boosted their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a research report on Monday, March 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $91.50.

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.