Southern Copper Co. (NYSE:SCCO) Stock Holdings Increased by Wealth Alliance

Wealth Alliance lifted its stake in Southern Copper Co. (NYSE:SCCO) by 10.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,396 shares of the basic materials company’s stock after purchasing an additional 631 shares during the quarter. Wealth Alliance’s holdings in Southern Copper were worth $550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in SCCO. Hartford Financial Management Inc. acquired a new position in Southern Copper in the third quarter worth approximately $25,000. Viking Fund Management LLC acquired a new position in Southern Copper in the fourth quarter worth approximately $31,000. Loomis Sayles & Co. L P acquired a new position in Southern Copper in the first quarter worth approximately $29,000. Sanctuary Wealth Management L.L.C. acquired a new position in Southern Copper in the fourth quarter worth approximately $27,000. Finally, Venturi Wealth Management LLC increased its holdings in Southern Copper by 164.8% in the fourth quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock worth $41,000 after buying an additional 300 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SCCO shares. Jefferies Financial Group upgraded Southern Copper from a “hold” rating to a “buy” rating and increased their price objective for the stock from $91.00 to $130.00 in a report on Friday, March 22nd. JPMorgan Chase & Co. lowered their price target on Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a report on Thursday, March 21st. The Goldman Sachs Group increased their price target on Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a report on Friday, March 22nd. Finally, StockNews.com downgraded Southern Copper from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $76.83.

Southern Copper Stock Up 0.3 %

SCCO opened at $114.15 on Thursday. Southern Copper Co. has a 1-year low of $64.66 and a 1-year high of $120.37. The company has a current ratio of 3.19, a quick ratio of 2.46 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $88.25 billion, a price-to-earnings ratio of 36.35, a P/E/G ratio of 3.31 and a beta of 1.29. The business has a 50 day moving average of $95.37 and a 200-day moving average of $83.72.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.15). The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.37 billion. Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. As a group, sell-side analysts anticipate that Southern Copper Co. will post 3.89 earnings per share for the current year.

Southern Copper Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 13th were issued a dividend of $0.80 per share. The ex-dividend date was Monday, February 12th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.80%. Southern Copper’s payout ratio is presently 101.91%.

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.