Venturi Wealth Management LLC Raises Position in Southern Copper Co. (NYSE:SCCO)

Venturi Wealth Management LLC lifted its stake in shares of Southern Copper Co. (NYSE:SCCO) by 34.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,060 shares of the basic materials company’s stock after buying an additional 1,032 shares during the period. Venturi Wealth Management LLC’s holdings in Southern Copper were worth $370,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Creative Planning increased its stake in Southern Copper by 4.4% in the 3rd quarter. Creative Planning now owns 49,328 shares of the basic materials company’s stock valued at $5,706,000 after buying an additional 2,092 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Southern Copper by 5.5% in the third quarter. Sequoia Financial Advisors LLC now owns 3,918 shares of the basic materials company’s stock valued at $453,000 after acquiring an additional 204 shares in the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of Southern Copper during the third quarter valued at approximately $80,000. International Assets Investment Management LLC lifted its holdings in Southern Copper by 11,510.5% during the third quarter. International Assets Investment Management LLC now owns 189,716 shares of the basic materials company’s stock worth $21,944,000 after acquiring an additional 188,082 shares during the period. Finally, Alaska Permanent Fund Corp boosted its position in Southern Copper by 0.6% in the third quarter. Alaska Permanent Fund Corp now owns 69,902 shares of the basic materials company’s stock worth $8,086,000 after purchasing an additional 388 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

SCCO has been the subject of several research analyst reports. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price for the company in a research report on Monday, December 2nd. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. Four analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $94.81.

Southern Copper Trading Up 1.3 %

Shares of SCCO opened at $97.68 on Friday. Southern Copper Co. has a fifty-two week low of $78.82 and a fifty-two week high of $129.79. The business has a 50-day moving average of $94.76 and a 200 day moving average of $101.91. The firm has a market cap of $76.73 billion, a P/E ratio of 22.61, a price-to-earnings-growth ratio of 1.89 and a beta of 1.13. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77.

Southern Copper (NYSE:SCCO) last posted its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. As a group, research analysts forecast that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Tuesday, February 11th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.87%. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date is Tuesday, February 11th. Southern Copper’s payout ratio is currently 64.81%.

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.