Southern Copper Co. (NYSE:SCCO) Shares Sold by Atria Investments Inc

Atria Investments Inc lowered its position in shares of Southern Copper Co. (NYSE:SCCO) by 65.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 8,626 shares of the basic materials company’s stock after selling 16,441 shares during the quarter. Atria Investments Inc’s holdings in Southern Copper were worth $786,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators lifted its position in Southern Copper by 210.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 257 shares during the period. IFP Advisors Inc lifted its position in Southern Copper by 143.4% during the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 281 shares during the period. Prospera Private Wealth LLC acquired a new stake in Southern Copper during the 3rd quarter worth about $47,000. Larson Financial Group LLC raised its stake in shares of Southern Copper by 578.3% during the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock valued at $47,000 after buying an additional 347 shares during the last quarter. Finally, Spire Wealth Management purchased a new position in shares of Southern Copper during the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Trading Up 2.3 %

SCCO opened at $92.45 on Friday. Southern Copper Co. has a one year low of $84.33 and a one year high of $129.79. The stock has a market capitalization of $72.62 billion, a PE ratio of 21.40, a P/E/G ratio of 1.90 and a beta of 1.12. The business’s 50 day moving average price is $93.71 and its 200 day moving average price is $100.74. 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 (NYSE:SCCO) last released its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. As a group, equities research analysts expect that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.70 per share. The ex-dividend date was Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.03%. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio is currently 64.81%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SCCO. UBS Group upgraded 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. Scotiabank boosted their price objective on Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a research note on Monday. Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a report on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Southern Copper currently has a consensus rating of “Hold” and a consensus target price of $97.31.

Southern Copper Company 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.