Y Intercept Hong Kong Ltd Has $3.41 Million Position in Southern Copper Co. (NYSE:SCCO)

Y Intercept Hong Kong Ltd grew its stake in Southern Copper Co. (NYSE:SCCO) by 536.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,410 shares of the basic materials company’s stock after purchasing an additional 31,530 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Southern Copper were worth $3,409,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Fisher Asset Management LLC boosted its position in Southern Copper by 10.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock worth $342,796,000 after buying an additional 283,562 shares during the period. abrdn plc lifted its position in shares of Southern Copper by 4.4% during the 4th quarter. abrdn plc now owns 2,849,638 shares of the basic materials company’s stock valued at $260,428,000 after acquiring an additional 118,909 shares during the period. State Street Corp lifted its position in shares of Southern Copper by 1.0% during the 3rd quarter. State Street Corp now owns 2,728,802 shares of the basic materials company’s stock valued at $315,641,000 after acquiring an additional 27,358 shares during the period. JPMorgan Chase & Co. lifted its position in shares of 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 valued at $162,283,000 after acquiring an additional 599,610 shares during the period. Finally, Empower Advisory Group LLC lifted its position in shares of Southern Copper by 3.3% during the 3rd quarter. Empower Advisory Group LLC now owns 1,004,060 shares of the basic materials company’s stock valued at $116,140,000 after acquiring an additional 32,314 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Performance

SCCO opened at $92.87 on Monday. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The company’s fifty day moving average price is $94.61 and its two-hundred day moving average price is $101.93. Southern Copper Co. has a 1-year low of $78.82 and a 1-year high of $129.79. The company has a market cap of $72.95 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.90 and a beta of 1.13.

Southern Copper (NYSE:SCCO) last posted its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. On average, 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 will be paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th will be paid a $0.70 dividend. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.80 annualized dividend and a dividend yield of 3.02%. Southern Copper’s dividend payout ratio is presently 64.81%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SCCO. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. upgraded shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a research report on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Southern Copper presently has an average rating of “Hold” and a consensus price target of $94.81.

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.