Independent Solutions Wealth Management LLC Sells 424 Shares of Southern Copper Co. (NYSE:SCCO)

Independent Solutions Wealth Management LLC cut its stake in Southern Copper Co. (NYSE:SCCO) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,343 shares of the basic materials company’s stock after selling 424 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Southern Copper were worth $2,036,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SCCO. Whittier Trust Co. of Nevada Inc. acquired a new position in Southern Copper in the 4th quarter valued at about $30,000. Deseret Mutual Benefit Administrators grew its position in shares of Southern Copper by 210.7% in the fourth 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 during the last quarter. Larson Financial Group LLC increased its stake in shares of Southern Copper by 578.3% during the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 347 shares during the period. Prospera Private Wealth LLC acquired a new stake in Southern Copper during the 3rd quarter worth approximately $47,000. Finally, IFP Advisors Inc lifted its holdings in Southern Copper by 143.4% during the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 281 shares during the last quarter. 7.94% of the stock is owned by institutional investors.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $99.28 on Friday. The firm has a 50 day moving average of $94.14 and a 200-day moving average of $100.57. Southern Copper Co. has a 12 month low of $84.33 and a 12 month high of $127.34. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $79.05 billion, a PE ratio of 22.98, a PEG ratio of 1.90 and a beta of 1.12.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. On average, equities research analysts predict that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were given a dividend of $0.70 per share. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a dividend yield of 2.82%. The ex-dividend date was Tuesday, February 11th. Southern Copper’s dividend payout ratio is currently 64.81%.

Wall Street Analysts Forecast Growth

SCCO has been the topic of a number of research reports. Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their price objective for the company from $106.30 to $102.00 in a report on Thursday, December 12th. Scotiabank raised their price target on shares of Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a research report on Monday, March 10th. UBS Group upgraded shares of Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. upgraded 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 report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $97.31.

Southern Copper Company 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.