Private Advisor Group LLC Has $1.03 Million Holdings in Southern Copper Co. (NYSE:SCCO)

Private Advisor Group LLC increased its stake in shares of Southern Copper Co. (NYSE:SCCO) by 18.7% during the 2nd quarter, Holdings Channel reports. The fund owned 9,540 shares of the basic materials company’s stock after acquiring an additional 1,505 shares during the period. Private Advisor Group LLC’s holdings in Southern Copper were worth $1,028,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SCCO. Fidelis Capital Partners LLC bought a new position in shares of Southern Copper during the first quarter valued at about $26,000. Riverview Trust Co purchased a new position in shares of Southern Copper in the first quarter worth about $27,000. Fortis Group Advisors LLC boosted its position in shares of Southern Copper by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 151 shares during the period. Hanseatic Management Services Inc. bought a new position in shares of Southern Copper in the second quarter valued at approximately $53,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Southern Copper by 52.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,069 shares of the basic materials company’s stock worth $92,000 after acquiring an additional 369 shares during the last quarter. 7.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Scotiabank decreased their target price on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, May 21st. Morgan Stanley upped their target price on shares of Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a research report on Friday, June 21st. Finally, UBS Group started coverage on shares of Southern Copper in a research report on Friday, July 12th. They issued a “neutral” rating and a $120.00 target price on the stock. Five analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Southern Copper has a consensus rating of “Hold” and a consensus target price of $89.57.

Southern Copper Stock Performance

SCCO stock opened at $98.69 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.81 and a quick ratio of 2.27. The business has a 50-day moving average price of $103.30 and a 200 day moving average price of $107.26. The company has a market capitalization of $77.09 billion, a P/E ratio of 32.79, a PEG ratio of 0.99 and a beta of 1.17. Southern Copper Co. has a 1-year low of $68.93 and a 1-year high of $129.79.

Southern Copper (NYSE:SCCO) last announced its earnings results on Friday, July 19th. The basic materials company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.09. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $2.96 billion. As a group, equities research analysts forecast that Southern Copper Co. will post 4.33 EPS for the current fiscal year.

Southern Copper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.43%. Southern Copper’s dividend payout ratio is currently 79.73%.

Southern Copper 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.