Quantbot Technologies LP Invests $11.14 Million in Southern Copper Co. (NYSE:SCCO)

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

A number of other large investors also recently added to or reduced their stakes in the stock. Fortis Group Advisors LLC lifted its position in shares of Southern Copper by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 151 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in Southern Copper during the 1st quarter worth $26,000. Riverview Trust Co purchased a new stake in shares of Southern Copper during the first quarter worth $27,000. Hanseatic Management Services Inc. acquired a new stake in shares of Southern Copper in the second quarter valued at about $53,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Southern Copper by 52.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,069 shares of the basic materials company’s stock worth $92,000 after buying an additional 369 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on SCCO. UBS Group initiated coverage on shares of Southern Copper in a research note on Friday, July 12th. They set a “neutral” rating and a $120.00 price objective for the company. Morgan Stanley increased their price target on Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a report on Friday, June 21st. Finally, Scotiabank lowered their price objective on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, May 21st. 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $89.57.

Southern Copper Price Performance

SCCO stock opened at $98.69 on Monday. Southern Copper Co. has a 52-week low of $68.93 and a 52-week high of $129.79. The business has a fifty day moving average of $103.30 and a two-hundred day moving average of $107.26. The stock 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. 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 issued its quarterly earnings data on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.09. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $2.96 billion. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. As a group, research analysts anticipate that Southern Copper Co. will post 4.33 earnings per share for the current year.

Southern Copper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.43%. Southern Copper’s payout ratio is currently 79.73%.

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.