TrinityPoint Wealth LLC Has $1.08 Million Stock Holdings in Southern Copper Co. (NYSE:SCCO)

TrinityPoint Wealth LLC trimmed its position in shares of Southern Copper Co. (NYSE:SCCOFree Report) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,590 shares of the basic materials company’s stock after selling 475 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Southern Copper were worth $1,084,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 300 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $118.50, for a total value of $35,550.00. Following the transaction, the director now owns 4,614 shares of the company’s stock, valued at $546,759. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 600 shares of company stock valued at $63,430. Insiders own 0.08% of the company’s stock.

Southern Copper Trading Up 0.8 %

Shares of Southern Copper stock opened at $117.51 on Tuesday. The stock has a fifty day simple moving average of $113.76 and a 200 day simple moving average of $92.71. 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 $64.85 and a 12-month high of $129.79. The company has a market capitalization of $91.79 billion, a P/E ratio of 39.06, a price-to-earnings-growth ratio of 1.37 and a beta of 1.27.

Southern Copper (NYSE:SCCOGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.17. Southern Copper had a return on equity of 30.44% and a net margin of 24.20%. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.50 billion. On average, sell-side analysts anticipate that Southern Copper Co. will post 3.97 earnings per share for the current fiscal year.

Southern Copper Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th were given a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.04 annualized dividend and a yield of 0.03%. Southern Copper’s dividend payout ratio is currently 1.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SCCO shares. HSBC downgraded Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective for the company. in a report on Monday, April 22nd. Scotiabank decreased their price objective on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating for the company in a report on Tuesday, May 21st. Jefferies Financial Group upgraded Southern Copper from a “hold” rating to a “buy” rating and boosted their price objective for the company from $91.00 to $130.00 in a report on Friday, March 22nd. CICC Research initiated coverage on Southern Copper in a report on Wednesday, April 24th. They set an “outperform” rating for the company. Finally, Morgan Stanley upped their price target on Southern Copper from $123.00 to $135.00 and gave the stock an “underweight” rating in a report on Tuesday, April 30th. Five analysts have rated the stock with a sell rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.33.

View Our Latest Stock Report on Southern Copper

Southern Copper Profile

(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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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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