Corient Private Wealth LLC Decreases Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Corient Private Wealth LLC trimmed its stake in shares of Southern Copper Co. (NYSE:SCCO) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,779 shares of the basic materials company’s stock after selling 751 shares during the period. Corient Private Wealth LLC’s holdings in Southern Copper were worth $4,445,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in SCCO. Deseret Mutual Benefit Administrators raised its holdings in shares of Southern Copper by 210.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 257 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Southern Copper by 143.4% during the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 281 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Southern Copper during the third quarter valued at approximately $47,000. Larson Financial Group LLC increased its holdings in Southern Copper by 578.3% during the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock valued at $47,000 after buying an additional 347 shares during the last quarter. Finally, Spire Wealth Management purchased a new stake in Southern Copper during the fourth quarter valued at approximately $47,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Stock Performance

SCCO opened at $100.98 on Friday. The firm has a market cap of $80.39 billion, a P/E ratio of 23.37, a PEG ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a 1-year low of $84.33 and a 1-year high of $127.34. The company has a 50 day simple moving average of $94.27 and a two-hundred day simple moving average of $100.57. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. Equities analysts forecast that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were given a dividend of $0.70 per share. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date was Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.77%. Southern Copper’s dividend payout ratio is currently 64.81%.

Analyst Upgrades and Downgrades

SCCO has been the subject of a number of research reports. Scotiabank upped their target price on shares of Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a report on Monday, March 10th. JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price for the company in a report on Monday, December 2nd. UBS Group raised shares of Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a report on Thursday, March 13th. Finally, Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $106.30 to $102.00 in a report on Thursday, December 12th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $97.31.

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.