Edgestream Partners L.P. Has $5.58 Million Position in Southern Copper Co. (NYSE:SCCO)

Edgestream Partners L.P. grew its stake in Southern Copper Co. (NYSE:SCCO) by 240.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,821 shares of the basic materials company’s stock after buying an additional 36,615 shares during the period. Edgestream Partners L.P.’s holdings in Southern Copper were worth $5,583,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Fortis Group Advisors LLC increased its position in Southern Copper by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 151 shares during the period. Fidelis Capital Partners LLC bought a new position in Southern Copper during the first quarter worth $26,000. Riverview Trust Co acquired a new position in Southern Copper in the first quarter valued at $27,000. Hanseatic Management Services Inc. bought a new stake in Southern Copper during the second quarter valued at $53,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Southern Copper by 52.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,069 shares of the basic materials company’s stock worth $92,000 after acquiring an additional 369 shares during the period. 7.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SCCO shares. Scotiabank dropped 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. UBS Group assumed coverage on Southern Copper in a report on Friday, July 12th. They set a “neutral” rating and a $120.00 price target on the stock. Finally, Morgan Stanley boosted their target price on shares of Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a research report on Friday, June 21st. Five research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $89.57.

Southern Copper Stock Performance

NYSE SCCO opened at $99.48 on Tuesday. The company has a market cap of $77.71 billion, a P/E ratio of 33.06, a PEG ratio of 1.00 and a beta of 1.17. The company has a fifty day simple moving average of $102.96 and a 200 day simple moving average of $107.39. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67. Southern Copper Co. has a 12-month low of $68.93 and a 12-month high of $129.79.

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 analysts’ consensus estimates of $1.13 by $0.09. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Sell-side analysts predict that Southern Copper Co. will post 4.33 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Friday, August 9th. Southern Copper’s dividend payout ratio (DPR) is presently 79.77%.

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.