Cetera Investment Advisers Sells 5,398 Shares of Southern Copper Co. (NYSE:SCCO)

Cetera Investment Advisers trimmed its stake in shares of Southern Copper Co. (NYSE:SCCO) by 13.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,405 shares of the basic materials company’s stock after selling 5,398 shares during the quarter. Cetera Investment Advisers’ holdings in Southern Copper were worth $3,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norden Group LLC purchased a new position in Southern Copper in the first quarter valued at about $1,820,000. Los Angeles Capital Management LLC increased its position in shares of Southern Copper by 471.0% in the first quarter. Los Angeles Capital Management LLC now owns 31,655 shares of the basic materials company’s stock valued at $3,372,000 after acquiring an additional 26,111 shares during the period. Goldman Sachs Group Inc. raised its position in Southern Copper by 1.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,014,356 shares of the basic materials company’s stock valued at $87,306,000 after purchasing an additional 18,883 shares during the last quarter. Scarborough Advisors LLC bought a new position in shares of Southern Copper in the 4th quarter worth approximately $881,000. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Southern Copper by 21.7% during the 1st quarter. Advisors Asset Management Inc. now owns 90,237 shares of the basic materials company’s stock valued at $9,612,000 after buying an additional 16,111 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Trading Up 1.7 %

SCCO stock opened at $116.40 on Friday. The firm has a market cap of $90.93 billion, a P/E ratio of 38.67, a PEG ratio of 1.20 and a beta of 1.18. The company’s 50-day simple moving average is $104.33 and its 200-day simple moving average is $109.64. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67. Southern Copper Co. has a 52-week low of $68.93 and a 52-week high of $129.79.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Friday, July 19th. The basic materials company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.13 by $0.09. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. As a group, equities analysts forecast that Southern Copper Co. will post 4.32 EPS for the current fiscal year.

Southern Copper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.40 dividend on an annualized basis and a yield of 2.06%. Southern Copper’s dividend payout ratio is currently 79.73%.

Analysts Set New Price Targets

SCCO has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. UBS Group assumed coverage on Southern Copper in a report on Friday, July 12th. They set a “neutral” rating and a $120.00 price target for the company. Finally, Citigroup upped their price objective on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. Six research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.88.

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.