Southern Copper Co. (NYSE:SCCO) Stock Position Cut by CoreCap Advisors LLC

CoreCap Advisors LLC trimmed its position in shares of Southern Copper Co. (NYSE:SCCO) by 94.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,403 shares of the basic materials company’s stock after selling 21,814 shares during the period. CoreCap Advisors LLC’s holdings in Southern Copper were worth $128,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of SCCO. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Southern Copper during the 4th quarter worth approximately $30,000. Deseret Mutual Benefit Administrators lifted its holdings in shares of Southern Copper by 210.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 257 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Southern Copper by 143.4% in the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock valued at $43,000 after buying an additional 281 shares during the period. Spire Wealth Management bought a new position in Southern Copper during the 4th quarter worth about $47,000. Finally, Larson Financial Group LLC boosted its position in Southern Copper by 28.0% during the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 114 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Up 3.3%

SCCO opened at $92.32 on Tuesday. The stock has a market cap of $73.50 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05. The stock’s fifty day simple moving average is $90.41 and its 200 day simple moving average is $95.26. Southern Copper Co. has a 1-year low of $74.11 and a 1-year high of $126.09. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.14. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.05 billion. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. As a group, research analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Announces Dividend

The company also recently disclosed a dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 5th will be given a dividend of $0.70 per share. This represents a yield of 2.98%. The ex-dividend date of this dividend is Friday, May 2nd. Southern Copper’s payout ratio is 61.27%.

Analyst Ratings Changes

Several brokerages have commented on SCCO. Scotiabank boosted their price target on shares of Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a research report on Monday, March 10th. Hsbc Global Res upgraded Southern Copper from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. lowered their price target on Southern Copper from $84.00 to $83.50 and set a “neutral” rating on the stock in a research report on Monday, April 14th. UBS Group cut their price objective on Southern Copper from $120.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, StockNews.com upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Monday. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $91.50.

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.