XTX Topco Ltd Takes Position in Southern Copper Co. (NYSE:SCCO)

XTX Topco Ltd acquired a new stake in Southern Copper Co. (NYSE:SCCO) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 18,931 shares of the basic materials company’s stock, valued at approximately $2,040,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SCCO. Charles Schwab Investment Management Inc. raised its position 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 purchasing an additional 5,521 shares during the period. Norges Bank acquired a new position in Southern Copper in the 4th quarter valued at $71,802,000. Wells Fargo & Company MN raised its holdings in Southern Copper by 21.9% in the 4th quarter. Wells Fargo & Company MN now owns 179,082 shares of the basic materials company’s stock worth $15,414,000 after acquiring an additional 32,120 shares during the period. D.A. Davidson & CO. lifted its position in Southern Copper by 5.6% during the 4th quarter. D.A. Davidson & CO. now owns 3,664 shares of the basic materials company’s stock worth $315,000 after acquiring an additional 195 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in Southern Copper by 149.6% during the fourth quarter. Corient Private Wealth LLC now owns 50,057 shares of the basic materials company’s stock valued at $4,308,000 after acquiring an additional 29,999 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Trading Up 3.5 %

Shares of SCCO opened at $104.87 on Friday. The stock’s 50-day moving average price is $102.16 and its 200 day moving average price is $107.46. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $81.92 billion, a price-to-earnings ratio of 34.84, a P/E/G ratio of 1.00 and a beta of 1.17. Southern Copper Co. has a 12-month low of $68.93 and a 12-month high of $129.79.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.09. The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. As a group, research analysts predict that Southern Copper Co. will post 4.33 earnings per share for the current year.

Southern Copper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Friday, August 9th. Southern Copper’s dividend payout ratio is 79.73%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SCCO. UBS Group assumed coverage on Southern Copper in a research report on Friday, July 12th. They set a “neutral” rating and a $120.00 price objective for the company. Morgan Stanley upped their price target on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday. Five analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $89.57.

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.