CIBC Asset Management Inc Purchases 1,548 Shares of Southern Copper Co. (NYSE:SCCO)

CIBC Asset Management Inc raised its position in shares of Southern Copper Co. (NYSE:SCCO) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,051 shares of the basic materials company’s stock after buying an additional 1,548 shares during the period. CIBC Asset Management Inc’s holdings in Southern Copper were worth $2,374,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV boosted its holdings 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 worth $26,000 after purchasing an additional 141 shares during the period. Prospera Private Wealth LLC purchased a new stake in Southern Copper in the 3rd quarter worth approximately $47,000. Larson Financial Group LLC lifted its holdings in Southern Copper by 578.3% in the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock worth $47,000 after buying an additional 347 shares during the period. Spire Wealth Management bought a new stake in shares of Southern Copper in the 4th quarter worth approximately $47,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Southern Copper during the fourth quarter valued at approximately $51,000. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of Southern Copper stock opened at $92.87 on Friday. Southern Copper Co. has a 12 month low of $78.82 and a 12 month high of $129.79. The firm has a market capitalization of $72.95 billion, a P/E ratio of 21.50, a P/E/G ratio of 1.87 and a beta of 1.13. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The business has a fifty day simple moving average of $94.61 and a two-hundred day simple moving average of $101.88.

Southern Copper (NYSE:SCCO) last issued 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%. On average, equities analysts forecast that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Tuesday, February 11th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Tuesday, February 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio (DPR) is 64.81%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $106.30 to $102.00 in a report 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 for the company in a research report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $94.81.

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.