Exencial Wealth Advisors LLC Takes Position in Southern Copper Co. (NYSE:SCCO)

Exencial Wealth Advisors LLC acquired a new stake in shares of Southern Copper Co. (NYSE:SCCOFree Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,577 shares of the basic materials company’s stock, valued at approximately $222,000.

A number of other institutional investors have also modified their holdings of SCCO. Norges Bank purchased a new stake in shares of Southern Copper during the 4th quarter worth about $71,802,000. Canada Pension Plan Investment Board grew its holdings in shares of Southern Copper by 677.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 310,500 shares of the basic materials company’s stock worth $23,378,000 after purchasing an additional 270,540 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Southern Copper by 8,523.8% during the 4th quarter. International Assets Investment Management LLC now owns 172,907 shares of the basic materials company’s stock worth $14,882,000 after purchasing an additional 170,902 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Southern Copper by 378.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 166,398 shares of the basic materials company’s stock worth $14,322,000 after purchasing an additional 131,651 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of Southern Copper by 17.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 687,501 shares of the basic materials company’s stock worth $51,854,000 after purchasing an additional 102,286 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Insider Activity

In related news, Director Bonilla Luis Miguel Palomino sold 300 shares of the firm’s stock in a transaction 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 $546,759. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 500 shares of company stock worth $55,280. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Scotiabank decreased their target price 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. 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. Jefferies Financial Group upgraded Southern Copper from a “hold” rating to a “buy” rating and upped their price target for the stock from $91.00 to $130.00 in a report on Friday, March 22nd. HSBC cut Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price target for the company. in a report on Monday, April 22nd. Finally, StockNews.com upgraded Southern Copper from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Five equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $90.33.

Check Out Our Latest Report on SCCO

Southern Copper Stock Performance

Southern Copper stock opened at $108.90 on Friday. The stock has a market cap of $85.07 billion, a P/E ratio of 36.20, a price-to-earnings-growth ratio of 1.19 and a beta of 1.23. The company has a current ratio of 3.31, a quick ratio of 2.56 and a debt-to-equity ratio of 0.82. The stock has a 50 day moving average of $115.84 and a 200-day moving average of $95.19. Southern Copper Co. has a 52 week low of $67.64 and a 52 week high of $129.79.

Southern Copper (NYSE:SCCOGet Free Report) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.77 by $0.17. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Southern Copper had a return on equity of 30.44% and a net margin of 24.20%. On average, analysts expect that Southern Copper Co. will post 4.22 EPS for the current fiscal year.

Southern Copper Cuts Dividend

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

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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