New Age Alpha Advisors LLC Buys New Position in Southern Copper Co. (NYSE:SCCO)

New Age Alpha Advisors LLC bought a new position in shares of Southern Copper Co. (NYSE:SCCO) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 2,296 shares of the basic materials company’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. abrdn plc grew its stake 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 worth $260,428,000 after purchasing an additional 118,909 shares during the last quarter. State Street Corp grew its position 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 worth $315,641,000 after buying an additional 27,358 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Southern Copper by 74.6% in the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock valued at $162,283,000 after buying an additional 599,610 shares in the last quarter. Vanguard Group Inc. lifted 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 valued at $88,638,000 after acquiring an additional 18,426 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Southern Copper by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 613,286 shares of the basic materials company’s stock worth $70,437,000 after acquiring an additional 20,204 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Price Performance

Shares of SCCO opened at $94.41 on Thursday. The business’s 50-day moving average is $94.18 and its 200-day moving average is $100.61. 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 company has a market capitalization of $75.17 billion, a price-to-earnings ratio of 21.85, a P/E/G 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.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data 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%. Equities research analysts expect that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were paid a $0.70 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a yield of 2.97%. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s payout ratio is 64.81%.

Analysts Set New Price Targets

SCCO has been the topic of a number of recent analyst reports. UBS Group raised 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. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. Finally, Scotiabank lifted their target price 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. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $94.42.

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.