Corient Private Wealth LLC Sells 751 Shares of Southern Copper Co. (NYSE:SCCO)

Corient Private Wealth LLC decreased its stake in shares of Southern Copper Co. (NYSE:SCCO) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,779 shares of the basic materials company’s stock after selling 751 shares during the period. Corient Private Wealth LLC’s holdings in Southern Copper were worth $4,445,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Deseret Mutual Benefit Administrators boosted its stake in shares of Southern Copper by 210.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 257 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Southern Copper by 143.4% during the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 281 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Southern Copper during the 3rd quarter valued at about $47,000. Larson Financial Group LLC boosted its stake in shares of Southern Copper by 578.3% during the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 347 shares in the last quarter. Finally, Spire Wealth Management bought a new stake in shares of Southern Copper during the 4th quarter valued at about $47,000. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Up 1.8 %

Shares of Southern Copper stock opened at $100.98 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The stock has a market capitalization of $80.39 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a 52-week low of $84.33 and a 52-week high of $127.34. The company has a 50-day simple moving average of $94.27 and a two-hundred day simple moving average of $100.57.

Southern Copper (NYSE:SCCO) last issued its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) 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%. On average, analysts anticipate that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were issued a $0.70 dividend. The ex-dividend date was Tuesday, February 11th. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 2.77%. Southern Copper’s payout ratio is 64.81%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a research note on Monday, December 2nd. UBS Group raised shares of Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Thursday, March 13th. Scotiabank boosted their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a research note on Monday, March 10th. Finally, Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and dropped their price objective for the stock from $106.30 to $102.00 in a research note on Thursday, December 12th. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $97.31.

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.