ORG Wealth Partners LLC Takes $1.26 Million Position in Southern Copper Corporation (NYSE:SCCO)

ORG Wealth Partners LLC purchased a new position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,395 shares of the basic materials company's stock, valued at approximately $1,260,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Southern Copper during the fourth quarter valued at approximately $52,738,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Southern Copper during the 4th quarter valued at $40,226,000. Renaissance Technologies LLC increased its holdings in shares of Southern Copper by 1,417.7% in the 4th quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company's stock valued at $37,173,000 after acquiring an additional 381,035 shares during the period. Northern Trust Corp increased its holdings in shares of Southern Copper by 44.9% in the 4th quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company's stock valued at $104,484,000 after acquiring an additional 355,013 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Southern Copper by 49.6% in the 4th quarter. Marshall Wace LLP now owns 998,923 shares of the basic materials company's stock worth $91,032,000 after acquiring an additional 331,319 shares in the last quarter. Institutional investors own 7.94% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SCCO shares. Wall Street Zen downgraded Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. 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. decreased their target price on shares of Southern Copper from $84.00 to $83.50 and set a "neutral" rating for the company in a research note 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 research note on Tuesday, April 15th. Finally, Itau BBA Securities raised Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Southern Copper presently has an average rating of "Hold" and an average target price of $91.50.

Southern Copper Trading Down 0.1%

Shares of Southern Copper stock traded down $0.11 during mid-day trading on Thursday, hitting $95.22. The stock had a trading volume of 767,453 shares, compared to its average volume of 1,176,899. The firm has a market cap of $75.81 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 2.30 and a beta of 1.01. The company has a quick ratio of 3.22, a current ratio of 3.71 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average of $91.54 and a two-hundred day moving average of $93.21. Southern Copper Corporation has a 12-month low of $74.11 and a 12-month high of $118.64.

Southern Copper (NYSE:SCCO - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.14. The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.05 billion. Southern Copper had a return on equity of 39.39% and a net margin of 30.00%. Sell-side analysts forecast that Southern Copper Corporation will post 4.66 earnings per share for the current year.

Southern Copper Dividend Announcement

The firm also recently declared a dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were issued a dividend of $0.70 per share. This represents a dividend yield of 2.98%. The ex-dividend date was Friday, May 2nd. Southern Copper's dividend payout ratio is presently 61.27%.

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.