U.S. Capital Wealth Advisors LLC lowered its stake in Southern Copper Corporation (NYSE:SCCO - Free Report) by 8.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 140,540 shares of the basic materials company's stock after selling 12,303 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Southern Copper were worth $13,135,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in Southern Copper in the first quarter valued at about $29,000. Oppenheimer & Co. Inc. purchased a new position in Southern Copper in the first quarter valued at about $337,000. GAMMA Investing LLC boosted its holdings in Southern Copper by 35.2% in the first quarter. GAMMA Investing LLC now owns 906 shares of the basic materials company's stock valued at $85,000 after purchasing an additional 236 shares during the last quarter. Novem Group boosted its holdings in Southern Copper by 34.4% in the first quarter. Novem Group now owns 10,758 shares of the basic materials company's stock valued at $1,005,000 after purchasing an additional 2,754 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new position in Southern Copper in the first quarter valued at about $263,000. Institutional investors and hedge funds own 7.94% of the company's stock.
Wall Street Analyst Weigh In
SCCO has been the subject of a number of analyst reports. Wall Street Zen downgraded Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. reduced their target price on Southern Copper from $83.50 to $79.00 and set a "neutral" rating on the stock in a report on Thursday, July 3rd. UBS Group downgraded Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 target price on the stock. in a report on Tuesday, July 1st. Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. Finally, Itau BBA Securities raised Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to MarketBeat.com, Southern Copper currently has a consensus rating of "Hold" and a consensus target price of $91.60.
Read Our Latest Stock Analysis on SCCO
Southern Copper Stock Performance
Shares of NYSE SCCO traded up $2.30 during mid-day trading on Thursday, hitting $102.22. The company had a trading volume of 1,854,081 shares, compared to its average volume of 1,248,505. The stock has a market cap of $81.38 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 2.36 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 debt-to-equity ratio of 0.70, a current ratio of 3.71 and a quick ratio of 3.22. The firm's 50 day simple moving average is $95.10 and its two-hundred day simple moving average is $93.37.
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 the consensus estimate of $1.05 by $0.14. The business had revenue of $3.12 billion for 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%. As a group, equities research analysts forecast that Southern Copper Corporation will post 4.66 earnings per share for the current year.
Southern Copper Dividend Announcement
The business also recently declared a dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were issued a $0.70 dividend. This represents a dividend yield of 2.98%. The ex-dividend date was Friday, May 2nd. Southern Copper's dividend payout ratio (DPR) is 61.27%.
About Southern Copper
(
Free Report)
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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