Berger Financial Group Inc lowered its holdings in Southern Copper Co. (NYSE:SCCO – Free Report) by 8.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,887 shares of the basic materials company’s stock after selling 273 shares during the period. Berger Financial Group Inc’s holdings in Southern Copper were worth $207,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the business. Ameritas Advisory Services LLC bought a new stake in Southern Copper during the first quarter worth about $30,000. Loomis Sayles & Co. L P bought a new stake in Southern Copper during the first quarter worth $29,000. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Southern Copper during the 2nd quarter worth $32,000. Penserra Capital Management LLC bought a new stake in shares of Southern Copper during the 1st quarter worth $46,000. Finally, EverSource Wealth Advisors LLC grew its position in Southern Copper by 143.8% in the second quarter. EverSource Wealth Advisors LLC now owns 707 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 417 shares during the last quarter. 7.40% of the stock is owned by institutional investors.
Analysts Set New Price Targets
SCCO has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of Southern Copper in a research note on Monday, September 18th. They issued a “hold” rating and a $91.00 price target on the stock. StockNews.com began coverage on shares of Southern Copper in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. increased their price target on Southern Copper from $52.50 to $55.50 and gave the company an “underweight” rating in a research note on Thursday, August 17th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Southern Copper presently has an average rating of “Hold” and a consensus target price of $65.17.
Southern Copper Price Performance
Southern Copper stock opened at $74.85 on Friday. The stock’s 50 day moving average is $73.88 and its 200 day moving average is $75.06. Southern Copper Co. has a one year low of $56.26 and a one year high of $87.59. The firm has a market cap of $57.87 billion, a P/E ratio of 20.07 and a beta of 1.28. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.70 and a quick ratio of 2.94.
Southern Copper (NYSE:SCCO – Get Free Report) last posted its quarterly earnings data on Tuesday, October 24th. The basic materials company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.08. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Southern Copper had a net margin of 27.66% and a return on equity of 35.91%. As a group, research analysts expect that Southern Copper Co. will post 3.38 EPS for the current year.
Southern Copper Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date is Tuesday, November 7th. Southern Copper’s dividend payout ratio is 107.24%.
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.
- Five stocks we like better than Southern Copper
- Options Trading – Understanding Strike Price
- Williams-Sonoma is a steal for buy-and-hold investors
- 5 Top Rated Dividend Stocks to Consider
- A closer look at Warren Buffett’s latest surprise purchase
- Insider Buying Explained: What Investors Need to Know
- GE stock surges to six-year high: What’s behind the move?
Receive News & Ratings for Southern Copper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Copper and related companies with MarketBeat.com's FREE daily email newsletter.