Kestra Private Wealth Services LLC Grows Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Kestra Private Wealth Services LLC increased its stake in Southern Copper Co. (NYSE:SCCO) by 106.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,320 shares of the basic materials company’s stock after buying an additional 3,773 shares during the period. Kestra Private Wealth Services LLC’s holdings in Southern Copper were worth $630,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SCCO. Canada Pension Plan Investment Board grew its holdings in shares of Southern Copper by 677.0% during the third quarter. Canada Pension Plan Investment Board now owns 310,500 shares of the basic materials company’s stock valued at $23,378,000 after buying an additional 270,540 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Southern Copper by 8,523.8% during the 4th quarter. International Assets Investment Management LLC now owns 172,907 shares of the basic materials company’s stock valued at $14,882,000 after purchasing an additional 170,902 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Southern Copper by 17.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 687,501 shares of the basic materials company’s stock worth $51,854,000 after purchasing an additional 102,286 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Southern Copper by 7.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,151,729 shares of the basic materials company’s stock worth $86,714,000 after purchasing an additional 80,576 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of Southern Copper by 17.5% during the third quarter. Schroder Investment Management Group now owns 519,714 shares of the basic materials company’s stock valued at $39,129,000 after purchasing an additional 77,518 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Up 2.1 %

Shares of SCCO stock opened at $115.41 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.31 and a quick ratio of 2.56. The company has a market cap of $89.23 billion, a price-to-earnings ratio of 37.96, a PEG ratio of 3.25 and a beta of 1.27. Southern Copper Co. has a 1 year low of $64.66 and a 1 year high of $121.00. The firm has a fifty day moving average price of $103.14 and a 200-day moving average price of $87.24.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (EPS) 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 the consensus estimate of $2.37 billion. Southern Copper had a net margin of 24.20% and a return on equity of 30.44%. As a group, equities analysts predict that Southern Copper Co. will post 4.01 earnings per share for the current year.

Southern Copper Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, May 7th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Southern Copper’s payout ratio is currently 105.26%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. The Goldman Sachs Group boosted their target price on Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a research report on Thursday, March 21st. CICC Research began coverage on shares of Southern Copper in a research report on Wednesday, April 24th. They issued an “outperform” rating for the company. Jefferies Financial Group raised Southern Copper from a “hold” rating to a “buy” rating and increased their price target for the company from $91.00 to $130.00 in a report on Friday, March 22nd. Finally, Morgan Stanley lifted their price objective on Southern Copper from $123.00 to $135.00 and gave the stock an “underweight” rating in a report on Tuesday, April 30th. Five research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.50.

Insider Activity at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 300 shares of Southern Copper stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $118.50, for a total transaction of $35,550.00. Following the transaction, the director now owns 4,614 shares of the company’s stock, valued at $546,759. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 600 shares of company stock worth $63,430. 0.08% of the stock is owned by company insiders.

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.