Machina Capital S.A.S. Has $516,000 Stake in Southern Copper Co. (NYSE:SCCO)

Machina Capital S.A.S. reduced its position in shares of Southern Copper Co. (NYSE:SCCO) by 53.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,666 shares of the basic materials company’s stock after selling 6,416 shares during the period. Machina Capital S.A.S.’s holdings in Southern Copper were worth $516,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SCCO. Amalgamated Bank grew its holdings in shares of Southern Copper by 30.8% during the third quarter. Amalgamated Bank now owns 7,620 shares of the basic materials company’s stock worth $881,000 after purchasing an additional 1,796 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Southern Copper by 33.7% during the third quarter. Principal Financial Group Inc. now owns 9,693 shares of the basic materials company’s stock worth $1,121,000 after purchasing an additional 2,442 shares during the last quarter. Confluence Investment Management LLC grew its holdings in shares of Southern Copper by 5.0% during the third quarter. Confluence Investment Management LLC now owns 7,620 shares of the basic materials company’s stock worth $881,000 after purchasing an additional 360 shares during the last quarter. Covestor Ltd grew its holdings in shares of Southern Copper by 209.4% during the third quarter. Covestor Ltd now owns 826 shares of the basic materials company’s stock worth $96,000 after purchasing an additional 559 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Southern Copper by 21.7% during the third quarter. Los Angeles Capital Management LLC now owns 539,495 shares of the basic materials company’s stock worth $62,403,000 after purchasing an additional 96,210 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Price Performance

Southern Copper stock opened at $91.02 on Friday. The stock has a market capitalization of $71.50 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a 52-week low of $84.33 and a 52-week high of $129.79. The stock’s 50 day moving average price is $93.83 and its two-hundred day moving average price is $101.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77.

Southern Copper (NYSE:SCCO) last posted 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 return on equity of 40.27% and a net margin of 29.53%. On average, equities analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.08%. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date was Tuesday, February 11th. Southern Copper’s dividend payout ratio is presently 64.81%.

Wall Street Analysts Forecast Growth

SCCO has been the topic of several analyst reports. Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $106.30 to $102.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a report on Monday, December 2nd. Four investment 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, the stock presently has an average rating of “Hold” and an average price target 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.