Norden Group LLC Purchases 841 Shares of Southern Copper Co. (NYSE:SCCO)

Norden Group LLC boosted its position in shares of Southern Copper Co. (NYSE:SCCO) by 43.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,774 shares of the basic materials company’s stock after purchasing an additional 841 shares during the period. Norden Group LLC’s holdings in Southern Copper were worth $253,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV boosted its position in shares of Southern Copper by 172.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after buying an additional 141 shares during the period. Deseret Mutual Benefit Administrators grew its position in Southern Copper by 210.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 257 shares during the last quarter. IFP Advisors Inc increased its stake in Southern Copper by 143.4% in the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 281 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Southern Copper during the third quarter worth $47,000. Finally, Larson Financial Group LLC boosted its stake in shares of Southern Copper by 578.3% during the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 347 shares during the period. 7.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SCCO shares. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $106.30 to $102.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a research report on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Southern Copper currently has a consensus rating of “Hold” and an average price target of $94.81.

Southern Copper Price Performance

Shares of SCCO opened at $85.95 on Wednesday. The stock has a market capitalization of $67.51 billion, a PE ratio of 19.89, a PEG ratio of 1.90 and a beta of 1.13. Southern Copper Co. has a fifty-two week low of $79.59 and a fifty-two week high of $129.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The company has a 50 day moving average price of $94.04 and a 200-day moving average price of $101.36.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. Equities analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Tuesday, February 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s payout ratio is 64.81%.

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.