Manning & Napier Advisors LLC Acquires New Shares in Southern Copper Corporation (NYSE:SCCO)

Manning & Napier Advisors LLC purchased a new position in Southern Copper Corporation (NYSE:SCCO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,667 shares of the basic materials company's stock, valued at approximately $3,053,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Larson Financial Group LLC grew 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. Cadence Wealth Management LLC grew its holdings in Southern Copper by 4.1% in the 4th quarter. Cadence Wealth Management LLC now owns 2,919 shares of the basic materials company's stock worth $266,000 after acquiring an additional 116 shares during the last quarter. Signaturefd LLC grew its holdings in Southern Copper by 1.7% in the 4th quarter. Signaturefd LLC now owns 8,043 shares of the basic materials company's stock worth $733,000 after acquiring an additional 133 shares during the last quarter. Centerstone Investors LLC grew its holdings in Southern Copper by 0.6% in the 4th quarter. Centerstone Investors LLC now owns 23,438 shares of the basic materials company's stock worth $2,136,000 after acquiring an additional 143 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Southern Copper by 0.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 19,936 shares of the basic materials company's stock worth $1,817,000 after buying an additional 145 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on SCCO. Wall Street Zen cut shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Itau BBA Securities raised shares of Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. UBS Group cut their target price on shares of Southern Copper from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. cut their price objective 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. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $91.50.

Southern Copper Trading Down 1.8%

Southern Copper stock opened at $93.51 on Monday. The company has a current ratio of 3.71, a quick ratio of 3.22 and a debt-to-equity ratio of 0.70. The business's fifty day simple moving average is $91.98 and its two-hundred day simple moving average is $93.01. Southern Copper Corporation has a 12 month low of $74.11 and a 12 month high of $118.64. The company has a market capitalization of $74.45 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 2.25 and a beta of 1.01.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. The company had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.05 billion. Southern Copper had a net margin of 30.00% and a return on equity of 39.39%. As a group, equities analysts predict that Southern Copper Corporation will post 4.66 earnings per share for the current fiscal year.

Southern Copper Announces Dividend

The company also recently announced a dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a dividend 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.

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