Meeder Advisory Services Inc. Acquires New Position in Southern Copper Co. (NYSE:SCCO)

Meeder Advisory Services Inc. bought a new position in shares of Southern Copper Co. (NYSE:SCCO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,837 shares of the basic materials company’s stock, valued at approximately $306,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Fortis Group Advisors LLC lifted its holdings in 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 last quarter. Fidelis Capital Partners LLC purchased a new stake in Southern Copper in the first quarter valued at $26,000. Riverview Trust Co acquired a new position in shares of Southern Copper in the 1st quarter valued at $27,000. Hanseatic Management Services Inc. purchased a new position in shares of Southern Copper during the 2nd quarter worth $53,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Southern Copper by 52.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,069 shares of the basic materials company’s stock worth $92,000 after purchasing an additional 369 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Performance

NYSE:SCCO opened at $98.69 on Monday. Southern Copper Co. has a 12 month low of $68.93 and a 12 month high of $129.79. 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 firm has a market capitalization of $77.09 billion, a PE ratio of 32.79, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. The business’s fifty day moving average price is $103.30 and its 200 day moving average price is $107.26.

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

Southern Copper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given 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 dividend yield of 2.43%. Southern Copper’s dividend payout ratio is presently 79.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. UBS Group initiated coverage on shares of Southern Copper in a research report on Friday, July 12th. They set a “neutral” rating and a $120.00 price target for the company. Scotiabank dropped their target price on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating for the company in a report on Tuesday, May 21st. Finally, Morgan Stanley upped their price target on Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, June 21st. Five analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned 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 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.