Southern Copper Corporation (NYSE:SCCO) Holdings Increased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its stake in Southern Copper Corporation (NYSE:SCCO - Free Report) by 42.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,773 shares of the basic materials company's stock after purchasing an additional 4,391 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Southern Copper were worth $1,381,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of SCCO. Azzad Asset Management Inc. ADV raised its holdings in Southern Copper by 47.7% in the first quarter. Azzad Asset Management Inc. ADV now owns 38,092 shares of the basic materials company's stock valued at $3,560,000 after buying an additional 12,310 shares during the period. Marshall Financial Group LLC raised its stake in shares of Southern Copper by 1.4% in the 1st quarter. Marshall Financial Group LLC now owns 21,691 shares of the basic materials company's stock valued at $2,027,000 after acquiring an additional 292 shares during the period. Randolph Co Inc lifted its holdings in shares of Southern Copper by 0.5% during the 1st quarter. Randolph Co Inc now owns 195,458 shares of the basic materials company's stock valued at $18,268,000 after acquiring an additional 913 shares in the last quarter. Polianta Ltd acquired a new position in shares of Southern Copper during the 1st quarter valued at $1,233,000. Finally, Greenwood Capital Associates LLC boosted its position in Southern Copper by 5.6% during the 1st quarter. Greenwood Capital Associates LLC now owns 15,742 shares of the basic materials company's stock worth $1,471,000 after purchasing an additional 831 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Stock Performance

Shares of SCCO traded down $0.42 during mid-day trading on Friday, hitting $105.67. The stock had a trading volume of 718,128 shares, compared to its average volume of 1,220,434. Southern Copper Corporation has a fifty-two week low of $74.11 and a fifty-two week 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 company has a market cap of $84.13 billion, a PE ratio of 23.12, a PEG ratio of 2.39 and a beta of 1.02. The company's fifty day simple moving average is $94.25 and its two-hundred day simple moving average is $93.11.

Southern Copper (NYSE:SCCO - Get Free Report) last posted 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. Southern Copper had a net margin of 30.00% and a return on equity of 39.39%. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.05 billion. On average, equities analysts expect that Southern Copper Corporation will post 4.66 earnings per share for the current year.

Southern Copper Dividend Announcement

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

Analysts Set New Price Targets

SCCO has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their target price on Southern Copper from $83.50 to $79.00 and set a "neutral" rating for the company in a research report on Thursday. Hsbc Global Res upgraded shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. UBS Group lowered shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price target for the company. in a report on Tuesday. Wall Street Zen cut Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, Itau BBA Securities upgraded shares of Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $91.60.

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.