Southern Copper Co. (NYSE:SCCO) Shares Purchased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC boosted its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 106.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,320 shares of the basic materials company’s stock after buying an additional 3,773 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Southern Copper were worth $630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in shares of Southern Copper by 7.0% during the third quarter. AQR Capital Management LLC now owns 80,682 shares of the basic materials company’s stock valued at $6,075,000 after acquiring an additional 5,296 shares in the last quarter. Tyche Wealth Partners LLC acquired a new position in Southern Copper during the 4th quarter valued at approximately $1,668,000. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Southern Copper by 119.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 41,223 shares of the basic materials company’s stock worth $3,548,000 after buying an additional 22,471 shares during the last quarter. Viking Fund Management LLC acquired a new stake in shares of Southern Copper during the fourth quarter worth $31,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of Southern Copper by 17.5% during the third quarter. Ameriprise Financial Inc. now owns 687,501 shares of the basic materials company’s stock worth $51,854,000 after buying an additional 102,286 shares during the period. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Bonilla Luis Miguel Palomino sold 300 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $118.50, for a total transaction of $35,550.00. Following the sale, the director now directly owns 4,614 shares in the company, valued at approximately $546,759. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 600 shares of company stock worth $63,430. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

SCCO has been the subject of a number of research analyst reports. Morgan Stanley raised their target price on Southern Copper from $123.00 to $135.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 30th. Scotiabank lifted their target price on Southern Copper from $53.00 to $55.00 and gave the stock a “sector underperform” rating in a report on Thursday, April 18th. HSBC downgraded shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price target on the stock. in a report on Monday, April 22nd. StockNews.com upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a research note on Thursday, March 21st. Five analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Southern Copper presently has a consensus rating of “Hold” and an average target price of $90.50.

Southern Copper Trading Up 2.1 %

Shares of NYSE:SCCO opened at $115.41 on Monday. The company has a current ratio of 3.31, a quick ratio of 2.56 and a debt-to-equity ratio of 0.82. Southern Copper Co. has a 12-month low of $64.66 and a 12-month high of $121.00. The business has a 50 day moving average of $103.14 and a two-hundred day moving average of $87.24. The company has a market capitalization of $89.23 billion, a PE ratio of 37.96, a PEG ratio of 3.25 and a beta of 1.27.

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

Southern Copper Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th will be given a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Southern Copper’s dividend payout ratio (DPR) is currently 105.26%.

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.