Generali Investments CEE investicni spolecnost a.s. Makes New $1.36 Million Investment in Southern Copper Co. (NYSE:SCCO)

Generali Investments CEE investicni spolecnost a.s. bought a new stake in Southern Copper Co. (NYSE:SCCO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,969 shares of the basic materials company’s stock, valued at approximately $1,364,000.

A number of other large investors also recently made changes to their positions in the company. Fisher Asset Management LLC increased its position in shares of 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 valued at $342,796,000 after purchasing an additional 283,562 shares during the last quarter. abrdn plc increased its holdings in Southern Copper by 4.4% during the fourth quarter. abrdn plc now owns 2,849,638 shares of the basic materials company’s stock worth $260,428,000 after buying an additional 118,909 shares during the last quarter. State Street Corp increased its holdings in Southern Copper by 1.0% during 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. raised its position in 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 worth $162,283,000 after acquiring an additional 599,610 shares during the period. Finally, Empower Advisory Group LLC boosted its stake in Southern Copper by 3.3% in the third 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 last quarter. 7.94% of the stock is owned by institutional investors.

Southern Copper Trading Up 0.2 %

Shares of SCCO stock opened at $91.02 on Friday. The stock has a market capitalization of $71.50 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 1.90 and a beta of 1.12. The company’s fifty day simple moving average is $93.83 and its two-hundred day simple moving average is $101.10. Southern Copper Co. has a 1 year low of $84.33 and a 1 year high of $129.79. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. As a group, 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 declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.70 per share. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Tuesday, February 11th. Southern Copper’s payout ratio is 64.81%.

Analyst Upgrades and Downgrades

SCCO has been the subject of several research analyst reports. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $106.30 to $102.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price for the company in a research report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $94.81.

Southern Copper Company 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.