By otakuyassine3@gmail.com 
Atria Investments Inc lessened its holdings in Southern Copper Co. (NYSE:SCCO – Free Report) by 65.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,626 shares of the basic materials company’s stock after selling 16,441 shares during the quarter. Atria Investments Inc’s holdings in Southern Copper were worth $786,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the business. NewSquare Capital LLC boosted its stake in Southern Copper by 1.3% in the fourth quarter. NewSquare Capital LLC now owns 57,302 shares of the basic materials company’s stock valued at $5,142,000 after acquiring an additional 731 shares in the last quarter. Laffer Tengler Investments Inc. lifted its position in Southern Copper by 13.2% in the fourth quarter. Laffer Tengler Investments Inc. now owns 4,255 shares of the basic materials company’s stock valued at $388,000 after purchasing an additional 496 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Southern Copper by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,437 shares of the basic materials company’s stock valued at $21,638,000 after buying an additional 4,889 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Southern Copper by 10.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 14,639 shares of the basic materials company’s stock valued at $1,334,000 after buying an additional 1,372 shares in the last quarter. Finally, Mission Wealth Management LP increased its holdings in Southern Copper by 16.9% in the fourth quarter. Mission Wealth Management LP now owns 4,597 shares of the basic materials company’s stock valued at $419,000 after buying an additional 665 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on SCCO. UBS Group raised shares of Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a report on Thursday. 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 target on shares of Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a report on Monday. Finally, Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $106.30 to $102.00 in a report on Thursday, December 12th. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $97.31.
View Our Latest Research Report on Southern Copper
Southern Copper Stock Performance
Southern Copper stock opened at $92.45 on Friday. Southern Copper Co. has a 12-month low of $84.33 and a 12-month high of $129.79. The company has a market capitalization of $72.62 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth 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. The firm’s fifty day moving average price is $93.71 and its 200 day moving average price is $100.74.
Southern Copper (NYSE:SCCO – Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. On average, research analysts forecast that Southern Copper Co. will post 4.66 EPS for the current fiscal year.
Southern Copper Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were given a $0.70 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.80 annualized dividend and a dividend yield of 3.03%. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s payout ratio is presently 64.81%.
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.
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