Sequoia Financial Advisors LLC trimmed its stake in Southern Copper Co. (NYSE:SCCO – Free Report) by 4.8% in the 4th quarter, HoldingsChannel reports. The firm owned 3,728 shares of the basic materials company’s stock after selling 190 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Southern Copper were worth $340,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of SCCO. M&T Bank Corp grew its stake in Southern Copper by 0.5% in the third quarter. M&T Bank Corp now owns 20,460 shares of the basic materials company’s stock worth $2,367,000 after purchasing an additional 105 shares during the period. Larson Financial Group LLC grew its position in shares of Southern Copper by 28.0% in the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock worth $48,000 after buying an additional 114 shares during the period. Tyche Wealth Partners LLC increased its stake in shares of Southern Copper by 0.6% in the 4th quarter. Tyche Wealth Partners LLC now owns 19,807 shares of the basic materials company’s stock worth $1,805,000 after acquiring an additional 122 shares in the last quarter. Yousif Capital Management LLC lifted its position in Southern Copper by 0.9% during the 4th quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company’s stock valued at $1,311,000 after acquiring an additional 122 shares during the period. Finally, 180 Wealth Advisors LLC boosted its stake in Southern Copper by 3.6% during the fourth quarter. 180 Wealth Advisors LLC now owns 4,062 shares of the basic materials company’s stock worth $370,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.
Southern Copper Stock Up 0.9 %
SCCO stock opened at $99.65 on Thursday. The stock has a market capitalization of $79.34 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.90 and a beta of 1.12. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. Southern Copper Co. has a 1-year low of $84.33 and a 1-year high of $127.34. The business has a fifty day moving average price of $94.06 and a 200-day moving average price of $100.58.
Southern Copper (NYSE:SCCO – Get Free Report) last issued its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share 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%. 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 was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were given a dividend of $0.70 per share. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date was Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a yield of 2.81%. Southern Copper’s dividend payout ratio is 64.81%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on SCCO shares. 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 note on Monday, December 2nd. Scotiabank lifted their price objective on Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research note on Monday, March 10th. UBS Group raised Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Thursday, March 13th. Finally, Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $97.31.
Get Our Latest Stock Analysis on SCCO
Southern Copper Profile
(Free Report)
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.
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