Avior Wealth Management LLC Sells 198 Shares of Southern Copper Co. (NYSE:SCCO)

Avior Wealth Management LLC lowered its stake in shares of Southern Copper Co. (NYSE:SCCO) by 16.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,028 shares of the basic materials company’s stock after selling 198 shares during the period. Avior Wealth Management LLC’s holdings in Southern Copper were worth $119,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in Southern Copper by 4.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 16,955 shares of the basic materials company’s stock valued at $1,961,000 after acquiring an additional 778 shares during the period. Prospera Financial Services Inc raised its stake in Southern Copper by 39.7% in the 3rd quarter. Prospera Financial Services Inc now owns 3,389 shares of the basic materials company’s stock valued at $392,000 after acquiring an additional 963 shares during the period. Caprock Group LLC bought a new stake in Southern Copper in the 3rd quarter valued at $217,000. Pathstone Holdings LLC raised its stake in Southern Copper by 2.0% in the 3rd quarter. Pathstone Holdings LLC now owns 12,523 shares of the basic materials company’s stock valued at $1,448,000 after acquiring an additional 247 shares during the period. Finally, Drive Wealth Management LLC raised its stake in Southern Copper by 155.4% in the 3rd quarter. Drive Wealth Management LLC now owns 6,244 shares of the basic materials company’s stock valued at $722,000 after acquiring an additional 3,799 shares during the period. Institutional investors own 7.94% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SCCO. Morgan Stanley increased their price target on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Scotiabank decreased their price objective on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a report on Tuesday, October 15th. Finally, Citigroup upped their price objective on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a report on Wednesday, October 2nd. Six investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $90.63.

Southern Copper Stock Performance

Shares of NYSE SCCO opened at $99.74 on Friday. The firm has a market cap of $78.35 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 1.04 and a beta of 1.18. Southern Copper Co. has a one year low of $70.63 and a one year high of $129.79. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The stock’s fifty day moving average price is $110.24 and its two-hundred day moving average price is $109.04.

Southern Copper Announces Dividend

The business also recently announced a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th were issued a dividend of $0.62 per share. This represents a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, November 6th. Southern Copper’s dividend payout ratio (DPR) is currently 72.09%.

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.