Choreo LLC Purchases Shares of 2,636 Southern Copper Co. (NYSE:SCCO)

Choreo LLC acquired a new position in shares of Southern Copper Co. (NYSE:SCCO) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,636 shares of the basic materials company’s stock, valued at approximately $286,000.

A number of other hedge funds have also modified their holdings of SCCO. Charles Schwab Investment Management Inc. grew its stake in shares of Southern Copper by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 226,664 shares of the basic materials company’s stock worth $19,509,000 after acquiring an additional 5,521 shares in the last quarter. Financial Advocates Investment Management bought a new position in Southern Copper in the fourth quarter valued at $259,000. Norges Bank acquired a new stake in Southern Copper in the 4th quarter valued at $71,802,000. Wells Fargo & Company MN lifted its position in Southern Copper by 21.9% during the 4th quarter. Wells Fargo & Company MN now owns 179,082 shares of the basic materials company’s stock worth $15,414,000 after buying an additional 32,120 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in shares of 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 buying an additional 195 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Performance

SCCO opened at $101.30 on Thursday. 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 stock has a market cap of $79.13 billion, a price-to-earnings ratio of 33.65, a PEG 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. The business has a 50 day moving average of $102.35 and a 200-day moving average of $107.48.

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

Southern Copper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a $0.60 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.40 annualized dividend and a yield of 2.37%. Southern Copper’s dividend payout ratio is currently 79.73%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley lifted their target price on Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a research report on Friday, June 21st. UBS Group started coverage on Southern Copper in a research report on Friday, July 12th. They set a “neutral” rating and a $120.00 price target on the stock. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Southern Copper currently has an average rating of “Hold” and a consensus target price 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.