HUB Investment Partners LLC Sells 4,107 Shares of Southern Copper Co. (NYSE:SCCO)

HUB Investment Partners LLC cut its holdings in Southern Copper Co. (NYSE:SCCO) by 41.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,815 shares of the basic materials company’s stock after selling 4,107 shares during the period. HUB Investment Partners LLC’s holdings in Southern Copper were worth $530,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings in Southern Copper by 33.7% during the 3rd quarter. Principal Financial Group Inc. now owns 9,693 shares of the basic materials company’s stock valued at $1,121,000 after acquiring an additional 2,442 shares during the period. Empowered Funds LLC purchased a new stake in shares of Southern Copper during the third quarter valued at approximately $456,000. Quest Partners LLC grew its holdings in shares of Southern Copper by 51.8% in the third quarter. Quest Partners LLC now owns 6,228 shares of the basic materials company’s stock worth $720,000 after purchasing an additional 2,126 shares during the last quarter. Pathstone Holdings LLC increased its stake in shares of Southern Copper by 2.0% in the third quarter. Pathstone Holdings LLC now owns 12,523 shares of the basic materials company’s stock worth $1,448,000 after buying an additional 247 shares during the period. Finally, Caprock Group LLC bought a new stake in Southern Copper during the 3rd quarter valued at $217,000. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SCCO has been the subject of several recent analyst reports. Scotiabank upped their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a research note on Monday, December 2nd. UBS Group raised shares of Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Thursday, March 13th. Finally, Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $97.31.

Southern Copper Trading Up 1.8 %

Shares of NYSE:SCCO opened at $100.98 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. Southern Copper Co. has a 1 year low of $84.33 and a 1 year high of $127.34. The company has a market cap of $80.39 billion, a P/E ratio of 23.37, a PEG ratio of 1.90 and a beta of 1.12. The stock’s fifty day moving average price is $94.27 and its 200-day moving average price is $100.57.

Southern Copper (NYSE:SCCO) last posted its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. Sell-side analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s payout ratio is 64.81%.

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.