Wealth Alliance Sells 453 Shares of Southern Copper Co. (NYSE:SCCO)

Wealth Alliance trimmed its position in shares of Southern Copper Co. (NYSE:SCCO) by 7.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,852 shares of the basic materials company’s stock after selling 453 shares during the quarter. Wealth Alliance’s holdings in Southern Copper were worth $631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Edgestream Partners L.P. lifted its holdings in shares of Southern Copper by 240.8% during the 2nd quarter. Edgestream Partners L.P. now owns 51,821 shares of the basic materials company’s stock valued at $5,583,000 after buying an additional 36,615 shares during the period. Quantbot Technologies LP bought a new position in shares of Southern Copper during the 2nd quarter valued at $11,142,000. Dimensional Fund Advisors LP lifted its holdings in shares of Southern Copper by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 375,173 shares of the basic materials company’s stock valued at $40,424,000 after buying an additional 1,910 shares during the period. Capital Wealth Planning LLC lifted its holdings in shares of Southern Copper by 44.9% during the 2nd quarter. Capital Wealth Planning LLC now owns 21,560 shares of the basic materials company’s stock valued at $2,323,000 after buying an additional 6,683 shares during the period. Finally, CoreCap Advisors LLC purchased a new stake in shares of Southern Copper in the 2nd quarter worth $2,236,000. 7.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

SCCO has been the subject of several analyst reports. Morgan Stanley upped their price objective on Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, June 21st. UBS Group initiated coverage on Southern Copper in a research note on Friday, July 12th. They issued a “neutral” rating and a $120.00 price objective for the company. Five equities research 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $89.57.

Southern Copper Trading Up 2.1 %

Shares of SCCO stock opened at $101.30 on Thursday. Southern Copper Co. has a 52-week low of $68.93 and a 52-week high of $129.79. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.27 and a current ratio of 2.81. The firm has a market capitalization of $79.13 billion, a PE ratio of 33.65, a PEG ratio of 1.00 and a beta of 1.17. The stock has a fifty day simple moving average of $102.35 and a two-hundred day simple moving average of $107.48.

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

Southern Copper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a $0.60 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.40 dividend on an annualized basis and a yield of 2.37%. Southern Copper’s payout ratio is presently 79.73%.

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.