NewEdge Advisors LLC Purchases 40,045 Shares of Southern Copper Co. (NYSE:SCCO)

NewEdge Advisors LLC increased its position in shares of Southern Copper Co. (NYSE:SCCO) by 1,112.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,645 shares of the basic materials company’s stock after purchasing an additional 40,045 shares during the period. NewEdge Advisors LLC’s holdings in Southern Copper were worth $4,702,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of SCCO. Steward Partners Investment Advisory LLC increased its holdings in Southern Copper by 3.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,478 shares of the basic materials company’s stock valued at $816,000 after acquiring an additional 288 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in Southern Copper by 4.2% in the 4th quarter. Treasurer of the State of North Carolina now owns 39,038 shares of the basic materials company’s stock valued at $3,360,000 after acquiring an additional 1,571 shares during the last quarter. TFO Wealth Partners LLC increased its holdings in Southern Copper by 34,680.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,739 shares of the basic materials company’s stock valued at $150,000 after acquiring an additional 1,734 shares during the last quarter. California State Teachers Retirement System increased its holdings in Southern Copper by 36.5% in the 4th quarter. California State Teachers Retirement System now owns 100,525 shares of the basic materials company’s stock valued at $8,652,000 after acquiring an additional 26,894 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Southern Copper by 1.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,014,356 shares of the basic materials company’s stock worth $87,306,000 after buying an additional 18,883 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Performance

Shares of NYSE:SCCO opened at $117.32 on Thursday. The company has a market capitalization of $91.65 billion, a price-to-earnings ratio of 38.99, a PEG 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 firm’s 50-day moving average is $103.19 and its 200 day moving average is $109.18. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67.

Southern Copper (NYSE:SCCO) last issued 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 company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $2.96 billion. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. Research analysts predict that Southern Copper Co. will post 4.32 EPS for the current year.

Southern Copper Announces Dividend

The business also recently announced 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 of this dividend was Friday, August 9th. This represents a $2.40 dividend on an annualized basis and a yield of 2.05%. Southern Copper’s dividend payout ratio is currently 79.77%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. UBS Group assumed coverage on shares of Southern Copper in a report on Friday, July 12th. They issued a “neutral” rating and a $120.00 target price on the stock. Morgan Stanley boosted their target price on shares of Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Finally, Citigroup boosted their target price on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday. Six investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Southern Copper has an average rating of “Hold” and a consensus price target 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.