Lindbrook Capital LLC Has $366,000 Position in Southern Copper Co. (NYSE:SCCO)

Lindbrook Capital LLC decreased its stake in Southern Copper Co. (NYSE:SCCO) by 8.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,248 shares of the basic materials company’s stock after selling 370 shares during the period. Lindbrook Capital LLC’s holdings in Southern Copper were worth $366,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Southern Copper by 10.7% in the 1st quarter. BlackRock Inc. now owns 7,797,970 shares of the basic materials company’s stock worth $594,595,000 after purchasing an additional 756,555 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Southern Copper by 200.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,179,899 shares of the basic materials company’s stock valued at $208,201,000 after acquiring an additional 2,789,376 shares during the last quarter. abrdn plc grew its holdings in Southern Copper by 2.3% during the 4th quarter. abrdn plc now owns 3,041,233 shares of the basic materials company’s stock worth $261,759,000 after acquiring an additional 67,930 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Southern Copper by 43.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,763,612 shares of the basic materials company’s stock worth $209,759,000 after acquiring an additional 835,044 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Southern Copper by 0.8% in the 2nd quarter. State Street Corp now owns 2,660,057 shares of the basic materials company’s stock valued at $190,832,000 after purchasing an additional 20,053 shares during the period. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Down 1.7 %

Shares of NYSE SCCO opened at $113.43 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.19 and a quick ratio of 2.46. The company has a 50-day moving average price of $96.72 and a 200-day moving average price of $84.36. The stock has a market capitalization of $87.69 billion, a P/E ratio of 36.12, a P/E/G ratio of 3.25 and a beta of 1.29. Southern Copper Co. has a 1 year low of $64.66 and a 1 year high of $120.37.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.37 billion. Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. On average, equities research analysts forecast that Southern Copper Co. will post 3.95 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 13th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Monday, February 12th. Southern Copper’s payout ratio is currently 101.91%.

Wall Street Analysts Forecast Growth

SCCO has been the subject of a number of research analyst reports. Jefferies Financial Group upgraded Southern Copper from a “hold” rating to a “buy” rating and lifted their target price for the stock from $91.00 to $130.00 in a report on Friday, March 22nd. StockNews.com downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. JPMorgan Chase & Co. reduced their price target on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a report on Thursday, March 21st. Scotiabank upped their price objective on shares of Southern Copper from $53.00 to $55.00 and gave the company a “sector underperform” rating in a report on Thursday. Finally, The Goldman Sachs Group raised their target price on Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a research note on Friday, March 22nd. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $75.33.

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.