Mutual Advisors LLC Decreases Stake in Southern Copper Co. (NYSE:SCCO)

Mutual Advisors LLC decreased its position in Southern Copper Co. (NYSE:SCCO) by 27.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,990 shares of the basic materials company’s stock after selling 2,234 shares during the period. Mutual Advisors LLC’s holdings in Southern Copper were worth $516,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. purchased a new stake in Southern Copper in the 3rd quarter valued at about $25,000. Loomis Sayles & Co. L P bought a new position in shares of Southern Copper during the 1st quarter valued at approximately $29,000. Sanctuary Wealth Management L.L.C. bought a new position in shares of Southern Copper during the 4th quarter valued at approximately $27,000. Ronald Blue Trust Inc. grew its position in shares of Southern Copper by 43.7% during the 3rd quarter. Ronald Blue Trust Inc. now owns 602 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 183 shares during the period. Finally, Penserra Capital Management LLC bought a new position in shares of Southern Copper during the 1st quarter valued at approximately $46,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

SCCO has been the subject of a number of research reports. Jefferies Financial Group raised shares of Southern Copper from a “hold” rating to a “buy” rating and increased their target price for the company from $91.00 to $130.00 in a research report on Friday, March 22nd. The Goldman Sachs Group increased their target price on shares of Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a research report on Friday, March 22nd. StockNews.com downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a report on Thursday, March 21st. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $76.83.

Southern Copper Stock Performance

NYSE SCCO opened at $104.34 on Thursday. Southern Copper Co. has a 1 year low of $64.66 and a 1 year high of $106.92. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.19 and a quick ratio of 2.46. The stock has a market capitalization of $80.67 billion, a PE ratio of 33.23 and a beta of 1.27. The company’s 50 day simple moving average is $85.90 and its two-hundred day simple moving average is $79.89.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.15). The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. Analysts predict that Southern Copper Co. will post 3.5 earnings per share for the current fiscal year.

Southern Copper Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 13th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Monday, February 12th. Southern Copper’s payout ratio is presently 101.91%.

About Southern Copper

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.