Southern Copper Co. (NYSE:SCCO) Shares Bought by Creative Planning

Creative Planning boosted its stake in shares of Southern Copper Co. (NYSE:SCCO) by 5.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,236 shares of the basic materials company’s stock after buying an additional 2,266 shares during the period. Creative Planning’s holdings in Southern Copper were worth $5,089,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new position in Southern Copper during the first quarter worth $26,000. Riverview Trust Co acquired a new position in Southern Copper during the first quarter worth $27,000. Itau Unibanco Holding S.A. acquired a new position in Southern Copper during the second quarter worth $31,000. Fortis Group Advisors LLC boosted its stake in Southern Copper by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock worth $26,000 after buying an additional 151 shares during the last quarter. Finally, Hanseatic Management Services Inc. acquired a new position in Southern Copper during the second quarter worth $53,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Price Performance

SCCO stock opened at $115.32 on Friday. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $90.08 billion, a PE ratio of 38.33, a P/E/G ratio of 1.23 and a beta of 1.17. Southern Copper Co. has a 12-month low of $68.93 and a 12-month high of $129.79. The business’s fifty day moving average price is $103.41 and its 200 day moving average price is $109.23.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.09. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $2.96 billion. On average, sell-side analysts anticipate that Southern Copper Co. will post 4.32 EPS for the current year.

Southern Copper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.40 annualized dividend and a yield of 2.08%. Southern Copper’s dividend payout ratio (DPR) is 79.77%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SCCO shares. UBS Group started coverage on Southern Copper in a research note on Friday, July 12th. They set a “neutral” rating and a $120.00 price objective on the stock. Citigroup lifted their target price on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research report on Wednesday. Finally, Morgan Stanley lifted their target price on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. Six research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $90.88.

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.