Southern Copper Corp (SCCO) Stake Increased by Hansberger Growth Investors LP

Hansberger Growth Investors LP grew its stake in shares of Southern Copper Corp (NYSE:SCCO) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 55,441 shares of the basic materials company’s stock after acquiring an additional 1,383 shares during the quarter. Southern Copper comprises about 3.5% of Hansberger Growth Investors LP’s investment portfolio, making the stock its 12th biggest position. Hansberger Growth Investors LP’s holdings in Southern Copper were worth $2,631,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SCCO. Acadian Asset Management LLC raised its holdings in shares of Southern Copper by 11,067.1% during the 4th quarter. Acadian Asset Management LLC now owns 1,897,732 shares of the basic materials company’s stock worth $90,047,000 after buying an additional 1,880,738 shares in the last quarter. Neuberger Berman Group LLC acquired a new position in shares of Southern Copper during the 3rd quarter worth $14,271,000. Telemark Asset Management LLC acquired a new position in shares of Southern Copper during the 3rd quarter worth $11,928,000. Cypress Funds LLC acquired a new position in shares of Southern Copper during the 3rd quarter worth $8,946,000. Finally, Oakmont Corp acquired a new position in shares of Southern Copper during the 3rd quarter worth $8,827,000. Hedge funds and other institutional investors own 6.64% of the company’s stock.

Southern Copper Corp (NYSE SCCO) opened at $49.84 on Thursday. Southern Copper Corp has a fifty-two week low of $32.63 and a fifty-two week high of $51.64. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.01 and a quick ratio of 2.00. The stock has a market capitalization of $39,013.31, a PE ratio of 32.77, a price-to-earnings-growth ratio of 0.53 and a beta of 0.59.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Monday, February 12th. This is a boost from Southern Copper’s previous quarterly dividend of $0.25. Southern Copper’s dividend payout ratio is presently 77.92%.

A number of equities analysts have recently commented on the company. B. Riley reissued a “buy” rating on shares of Southern Copper in a report on Wednesday, November 1st. Zacks Investment Research raised Southern Copper from a “hold” rating to a “strong-buy” rating and set a $57.00 target price for the company in a report on Wednesday, January 10th. UBS Group cut Southern Copper from a “hold” rating to a “sell” rating in a report on Monday, February 5th. Cowen reaffirmed a “market perform” rating and issued a $53.00 target price (up previously from $48.00) on shares of Southern Copper in a report on Wednesday, February 7th. Finally, Santander raised Southern Copper from a “hold” rating to a “buy” rating in a report on Monday, December 18th. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Southern Copper has an average rating of “Hold” and an average price target of $45.07.

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Southern Copper Company Profile

Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit.

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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