Quantbot Technologies LP Buys New Position in Southern Copper Co. (NYSE:SCCO)

Quantbot Technologies LP purchased a new position in shares of Southern Copper Co. (NYSE:SCCO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 103,419 shares of the basic materials company’s stock, valued at approximately $11,142,000. Southern Copper makes up approximately 0.5% of Quantbot Technologies LP’s investment portfolio, making the stock its 11th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in SCCO. Charles Schwab Investment Management Inc. raised its stake in shares of Southern Copper by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 226,664 shares of the basic materials company’s stock valued at $19,509,000 after acquiring an additional 5,521 shares in the last quarter. Ieq Capital LLC purchased a new position in shares of Southern Copper in the 4th quarter valued at about $202,000. Panagora Asset Management Inc. increased its stake in shares of Southern Copper by 45.7% during the fourth quarter. Panagora Asset Management Inc. now owns 29,458 shares of the basic materials company’s stock worth $2,535,000 after buying an additional 9,239 shares during the period. Financial Advocates Investment Management acquired a new stake in Southern Copper in the fourth quarter valued at approximately $259,000. Finally, Independent Advisor Alliance purchased a new position in Southern Copper in the fourth quarter worth approximately $809,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Up 0.7 %

SCCO opened at $98.69 on Monday. The firm has a market cap of $77.09 billion, a price-to-earnings ratio of 32.79, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. Southern Copper Co. has a 52 week low of $68.93 and a 52 week high of $129.79. The business’s 50 day moving average is $103.30 and its two-hundred day moving average is $107.26. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67.

Southern Copper (NYSE:SCCO) last announced its earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.09. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $2.96 billion. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. On average, research analysts predict that Southern Copper Co. will post 4.33 EPS for the current year.

Southern Copper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a $0.60 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.40 annualized dividend and a dividend yield of 2.43%. Southern Copper’s dividend payout ratio (DPR) is currently 79.73%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Scotiabank dropped their price objective on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, May 21st. UBS Group assumed coverage on Southern Copper in a report on Friday, July 12th. They issued a “neutral” rating and a $120.00 price objective on the stock. Finally, Morgan Stanley boosted their target price on Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, June 21st. Five research analysts have rated the stock with a sell rating, one has 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 a consensus price target of $89.57.

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.