International Assets Investment Management LLC Boosts Stock Position in Southern Copper Co. (NYSE:SCCO)

International Assets Investment Management LLC grew its holdings in Southern Copper Co. (NYSE:SCCO) by 8,523.8% during the 4th quarter, Holdings Channel reports. The fund owned 172,907 shares of the basic materials company’s stock after purchasing an additional 170,902 shares during the period. International Assets Investment Management LLC’s holdings in Southern Copper were worth $14,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Viking Fund Management LLC acquired a new stake in Southern Copper during the 4th quarter worth about $31,000. Venturi Wealth Management LLC boosted its position in Southern Copper by 164.8% in the 4th quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 300 shares in the last quarter. Washington Trust Advisors Inc. acquired a new stake in shares of Southern Copper during the 4th quarter worth approximately $45,000. Planned Solutions Inc. purchased a new position in shares of Southern Copper during the 4th quarter valued at approximately $88,000. Finally, Allworth Financial LP boosted its holdings in Southern Copper by 277.7% during the fourth quarter. Allworth Financial LP now owns 1,065 shares of the basic materials company’s stock worth $92,000 after buying an additional 783 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 300 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $118.50, for a total transaction of $35,550.00. Following the transaction, the director now directly owns 4,614 shares in the company, valued at approximately $546,759. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 600 shares of company stock worth $63,430. Insiders own 0.08% of the company’s stock.

Southern Copper Stock Performance

NYSE SCCO opened at $115.41 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.31 and a quick ratio of 2.46. The stock’s 50 day simple moving average is $103.14 and its 200-day simple moving average is $87.04. The company has a market cap of $89.22 billion, a PE ratio of 37.96, a price-to-earnings-growth ratio of 3.18 and a beta of 1.27. Southern Copper Co. has a 1-year low of $64.66 and a 1-year high of $121.00.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Southern Copper had a net margin of 24.20% and a return on equity of 30.44%. As a group, equities research analysts anticipate that Southern Copper Co. will post 4.01 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th will be paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, May 7th. This represents a $0.04 annualized dividend and a yield of 0.03%. Southern Copper’s dividend payout ratio is presently 105.26%.

Analysts Set New Price Targets

SCCO has been the subject of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. reduced their price target on Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a report on Thursday, March 21st. Scotiabank raised their price objective on Southern Copper from $53.00 to $55.00 and gave the company a “sector underperform” rating in a report on Thursday, April 18th. HSBC cut Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective for the company. in a research report on Monday, April 22nd. Finally, Morgan Stanley lifted their price target on shares of Southern Copper from $123.00 to $135.00 and gave the company an “underweight” rating in a research note on Tuesday, April 30th. Five analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $90.50.

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.