Bleakley Financial Group LLC Sells 688 Shares of Southern Copper Co. (NYSE:SCCO)

Bleakley Financial Group LLC cut its position in Southern Copper Co. (NYSE:SCCO) by 14.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,928 shares of the basic materials company’s stock after selling 688 shares during the quarter. Bleakley Financial Group LLC’s holdings in Southern Copper were worth $338,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SCCO. Hartford Financial Management Inc. acquired a new stake in Southern Copper during the 3rd quarter valued at $25,000. Viking Fund Management LLC acquired a new stake in Southern Copper during the 4th quarter valued at $31,000. Loomis Sayles & Co. L P acquired a new stake in Southern Copper during the 1st quarter valued at $29,000. Sanctuary Wealth Management L.L.C. acquired a new stake in Southern Copper during the 4th quarter valued at $27,000. Finally, Venturi Wealth Management LLC lifted its holdings in Southern Copper by 164.8% during the 4th quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 300 shares during the last quarter. 7.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SCCO has been the subject of several research reports. StockNews.com downgraded Southern Copper from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Jefferies Financial Group raised Southern Copper from a “hold” rating to a “buy” rating and lifted their target price for the stock from $91.00 to $130.00 in a report on Friday, March 22nd. JPMorgan Chase & Co. dropped their target price on Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a report on Thursday, March 21st. Finally, The Goldman Sachs Group lifted their target price on Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a report on Friday, March 22nd. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $76.83.

Southern Copper Stock Down 1.5 %

SCCO opened at $115.25 on Monday. The company has a market capitalization of $89.10 billion, a P/E ratio of 36.70, a P/E/G ratio of 3.35 and a beta of 1.29. The stock has a fifty day moving average of $93.41 and a 200-day moving average of $82.96. Southern Copper Co. has a fifty-two week low of $64.66 and a fifty-two week high of $120.37. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.46 and a current ratio of 3.19.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.37 billion. Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. On average, equities analysts expect that Southern Copper Co. will post 3.89 EPS for the current year.

Southern Copper Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 13th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Monday, February 12th. Southern Copper’s dividend payout ratio (DPR) is presently 101.91%.

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.