Tyche Wealth Partners LLC Invests $1.67 Million in Southern Copper Co. (NYSE:SCCO)

Tyche Wealth Partners LLC acquired a new position in shares of Southern Copper Co. (NYSE:SCCO) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 19,375 shares of the basic materials company’s stock, valued at approximately $1,668,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. purchased a new stake in Southern Copper during the 3rd quarter worth about $25,000. Sanctuary Wealth Management L.L.C. purchased a new stake in Southern Copper in the 4th quarter valued at about $27,000. Loomis Sayles & Co. L P purchased a new stake in Southern Copper in the 1st quarter valued at about $29,000. Viking Fund Management LLC purchased a new stake in Southern Copper in the 4th quarter valued at about $31,000. Finally, Venturi Wealth Management LLC grew its holdings in Southern Copper by 164.8% in the 4th quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock valued at $41,000 after buying an additional 300 shares during the period. 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 several recent analyst reports. The Goldman Sachs Group lifted their price target on Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a report on Friday, March 22nd. Jefferies Financial Group upgraded Southern Copper from a “hold” rating to a “buy” rating and lifted their price target for the company from $91.00 to $130.00 in a report on Friday, March 22nd. JPMorgan Chase & Co. lowered their price target on Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a report on Thursday, March 21st. Finally, StockNews.com cut Southern Copper from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Southern Copper has a consensus rating of “Hold” and an average price target of $76.83.

Southern Copper Trading Down 0.2 %

Shares of NYSE:SCCO traded down $0.24 during trading on Tuesday, reaching $113.84. 1,779,949 shares of the stock were exchanged, compared to its average volume of 1,110,152. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.46 and a current ratio of 3.19. Southern Copper Co. has a 12-month low of $64.66 and a 12-month high of $120.37. The firm has a market cap of $88.01 billion, a price-to-earnings ratio of 36.12, a price-to-earnings-growth ratio of 3.35 and a beta of 1.29. The firm’s 50-day moving average price is $94.10 and its 200 day moving average price is $83.23.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.58 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 analyst estimates of $2.37 billion. Southern Copper had a return on equity of 30.85% and a net margin of 24.51%. On average, sell-side analysts anticipate that Southern Copper Co. will post 3.89 earnings per share for the current fiscal year.

Southern Copper Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 13th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Monday, February 12th. Southern Copper’s dividend payout ratio (DPR) 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.