Capital Advisors Inc. OK Increases Stock Position in Southern Copper Co. (NYSE:SCCO)

Capital Advisors Inc. OK increased its position in Southern Copper Co. (NYSE:SCCOGet Rating) by 1.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 289,134 shares of the basic materials company’s stock after buying an additional 3,121 shares during the period. Capital Advisors Inc. OK’s holdings in Southern Copper were worth $21,945,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCCO. FNY Investment Advisers LLC acquired a new stake in shares of Southern Copper in the first quarter worth $26,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Southern Copper in the 4th quarter valued at $25,000. Sawyer & Company Inc purchased a new position in Southern Copper in the first quarter valued at about $43,000. Wahed Invest LLC purchased a new position in Southern Copper in the fourth quarter valued at about $62,000. Finally, Larson Financial Group LLC purchased a new stake in shares of Southern Copper in the fourth quarter worth about $79,000. Institutional investors and hedge funds own 6.83% of the company’s stock.

Southern Copper Stock Down 1.5 %

Shares of SCCO stock traded down $0.73 during mid-day trading on Thursday, reaching $47.59. 29,884 shares of the company were exchanged, compared to its average volume of 1,310,985. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.75 and a current ratio of 3.34. The business’s 50 day simple moving average is $54.65 and its 200 day simple moving average is $63.60. The company has a market capitalization of $36.79 billion, a P/E ratio of 11.06, a P/E/G ratio of 1.57 and a beta of 1.19. Southern Copper Co. has a fifty-two week low of $44.70 and a fifty-two week high of $79.32.

Southern Copper (NYSE:SCCOGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The basic materials company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.01. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.68 billion. Southern Copper had a net margin of 30.61% and a return on equity of 42.00%. Research analysts predict that Southern Copper Co. will post 3.8 earnings per share for the current year.

Southern Copper Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Thursday, August 11th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 6.30%. The ex-dividend date of this dividend is Wednesday, August 10th. Southern Copper’s dividend payout ratio is currently 112.87%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Barclays dropped their target price on Southern Copper from $61.00 to $51.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 19th. Wolfe Research cut shares of Southern Copper from a “peer perform” rating to an “underperform” rating in a research report on Thursday, July 7th. Morgan Stanley lowered their price target on shares of Southern Copper from $66.00 to $52.00 and set an “underweight” rating for the company in a report on Wednesday, June 22nd. Citigroup lowered shares of Southern Copper from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $70.00 to $40.00 in a report on Wednesday, July 13th. Finally, StockNews.com cut shares of Southern Copper from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 10th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Southern Copper has an average rating of “Hold” and an average price target of $51.25.

Southern Copper Profile

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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 and lead.

See Also

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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