Geneos Wealth Management Inc. Acquires New Position in Southern Copper Co. (NYSE:SCCO)

Geneos Wealth Management Inc. bought a new position in Southern Copper Co. (NYSE:SCCOFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,377 shares of the basic materials company’s stock, valued at approximately $308,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Southern Copper by 74.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock valued at $162,283,000 after acquiring an additional 599,610 shares during the last quarter. Itau Unibanco Holding S.A. lifted its position in Southern Copper by 115,910.7% in the third quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company’s stock valued at $38,915,000 after purchasing an additional 336,141 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Southern Copper by 10.6% during the third quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock valued at $342,796,000 after purchasing an additional 283,562 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Southern Copper by 11,510.5% in the third quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company’s stock worth $21,944,000 after purchasing an additional 188,082 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Southern Copper by 1,601.3% in the third quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock worth $22,275,000 after buying an additional 181,252 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

SCCO has been the subject of several analyst reports. JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a research report on Monday, December 2nd. Scotiabank dropped their target price on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a report on Tuesday, October 15th. Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $106.30 to $102.00 in a report on Thursday, December 12th. Finally, Citigroup increased their price objective on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $94.81.

Get Our Latest Research Report on SCCO

Southern Copper Stock Up 0.9 %

SCCO stock opened at $91.31 on Thursday. The company has a market capitalization of $71.73 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The business’s 50 day moving average price is $96.95 and its two-hundred day moving average price is $103.13. Southern Copper Co. has a fifty-two week low of $77.42 and a fifty-two week high of $129.79.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Monday, February 10th. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s payout ratio is 72.09%.

About Southern Copper

(Free Report)

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.

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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