Denali Advisors LLC Has $2.41 Million Stake in Southern Copper Corporation (NYSE:SCCO)

Denali Advisors LLC lessened its position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 48.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,764 shares of the basic materials company's stock after selling 24,285 shares during the quarter. Denali Advisors LLC's holdings in Southern Copper were worth $2,408,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of SCCO. Proficio Capital Partners LLC acquired a new stake in shares of Southern Copper during the 4th quarter worth approximately $84,000. Raymond James Financial Inc. acquired a new stake in shares of Southern Copper during the 4th quarter worth approximately $8,420,000. HighTower Advisors LLC grew its holdings in shares of Southern Copper by 11.3% during the 4th quarter. HighTower Advisors LLC now owns 33,014 shares of the basic materials company's stock worth $3,009,000 after purchasing an additional 3,362 shares in the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Southern Copper during the 4th quarter worth approximately $1,919,000. Finally, Creative Financial Designs Inc. ADV grew its holdings in shares of Southern Copper by 199.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 667 shares of the basic materials company's stock worth $61,000 after purchasing an additional 444 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Southern Copper from $83.50 to $79.00 and set a "neutral" rating on the stock in a report on Thursday, July 3rd. Wall Street Zen lowered Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. Itau BBA Securities raised Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. Finally, UBS Group lowered Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price target on the stock. in a research note on Tuesday, July 1st. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $91.00.

Southern Copper Price Performance

SCCO traded down $0.06 during trading on Friday, hitting $96.45. The company's stock had a trading volume of 921,873 shares, compared to its average volume of 1,250,784. The stock has a market capitalization of $76.79 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 2.48 and a beta of 1.02. Southern Copper Corporation has a 12 month low of $74.11 and a 12 month high of $118.64. 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's 50 day moving average price is $96.45 and its two-hundred day moving average price is $93.66.

Southern Copper (NYSE:SCCO - Get Free Report) last released its earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate 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 fiscal year.

Southern Copper Announces Dividend

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

About Southern Copper

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.