Kingsview Wealth Management LLC Has $451,000 Stock Position in Southern Copper Co. (NYSE:SCCO)

Kingsview Wealth Management LLC trimmed its position in Southern Copper Co. (NYSE:SCCO) by 8.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,902 shares of the basic materials company’s stock after selling 376 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Southern Copper were worth $451,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV increased its position in Southern Copper by 172.0% in the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 141 shares during the period. McClarren Financial Advisors Inc. boosted its holdings in Southern Copper by 169.2% during the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock worth $33,000 after buying an additional 181 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Southern Copper during the second quarter worth about $31,000. Oakworth Capital Inc. bought a new position in Southern Copper during the third quarter worth about $42,000. Finally, Prospera Private Wealth LLC bought a new position in Southern Copper during the third quarter worth about $47,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on SCCO shares. Scotiabank reduced their target price 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. Citigroup lifted 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. Finally, Morgan Stanley lifted their price objective on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Six equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $90.63.

Southern Copper Trading Up 1.2 %

NYSE SCCO opened at $99.71 on Friday. The stock has a market capitalization of $78.33 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 1.05 and a beta of 1.18. The stock’s 50 day moving average price is $110.15 and its two-hundred day moving average price is $108.64. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. Southern Copper Co. has a 52 week low of $70.63 and a 52 week high of $129.79.

Southern Copper Dividend Announcement

The company also recently announced a — dividend, which was paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th were paid a $0.62 dividend. This represents a yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper’s payout ratio is 72.16%.

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.