HBK Sorce Advisory LLC Acquires 529 Shares of Southern Copper Co. (NYSE:SCCO)

HBK Sorce Advisory LLC raised its position in shares of Southern Copper Co. (NYSE:SCCO) by 13.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,487 shares of the basic materials company’s stock after purchasing an additional 529 shares during the period. HBK Sorce Advisory LLC’s holdings in Southern Copper were worth $386,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in Southern Copper by 8,523.8% during the fourth 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 in the last quarter. Americana Partners LLC raised its position in Southern Copper by 44.9% during the fourth quarter. Americana Partners LLC now owns 57,915 shares of the basic materials company’s stock valued at $4,985,000 after purchasing an additional 17,955 shares in the last quarter. 180 Wealth Advisors LLC raised its position in Southern Copper by 32.8% during the fourth quarter. 180 Wealth Advisors LLC now owns 3,969 shares of the basic materials company’s stock valued at $336,000 after purchasing an additional 981 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in Southern Copper by 1.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 24,340 shares of the basic materials company’s stock valued at $2,113,000 after purchasing an additional 251 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC raised its position in Southern Copper by 56.5% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 7,579 shares of the basic materials company’s stock valued at $652,000 after purchasing an additional 2,736 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Down 0.2 %

NYSE SCCO opened at $116.21 on Thursday. 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 $89.84 billion, a PE ratio of 37.01 and a beta of 1.29. Southern Copper Co. has a 1 year low of $64.66 and a 1 year high of $117.86. The business’s 50-day moving average is $92.07 and its 200 day moving average is $82.29.

Southern Copper (NYSE:SCCO) last posted its 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 business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.37 billion. Southern Copper had a return on equity of 30.85% and a net margin of 24.51%. Sell-side analysts forecast that Southern Copper Co. will post 3.67 earnings per share for the current 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 paid a $0.80 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.20 annualized dividend and a dividend yield of 2.75%. Southern Copper’s payout ratio is presently 101.91%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SCCO shares. Jefferies Financial Group upgraded Southern Copper from a “hold” rating to a “buy” rating and raised their price target for the company from $91.00 to $130.00 in a research report on Friday, March 22nd. JPMorgan Chase & Co. decreased their price objective on Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a report on Thursday, March 21st. StockNews.com downgraded Southern Copper from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Finally, The Goldman Sachs Group lifted their price objective on Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a report on Friday, March 22nd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $76.83.

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.