Financial Advocates Investment Management Has $397,000 Stake in Southern Copper Co. (NYSE:SCCO)

Financial Advocates Investment Management boosted its stake in Southern Copper Co. (NYSE:SCCO) by 21.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,681 shares of the basic materials company’s stock after buying an additional 655 shares during the quarter. Financial Advocates Investment Management’s holdings in Southern Copper were worth $397,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its stake in Southern Copper by 18.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock valued at $827,804,000 after buying an additional 1,192,111 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Southern Copper by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 3,349,984 shares of the basic materials company’s stock worth $288,333,000 after purchasing an additional 39,422 shares in the last quarter. Capital World Investors acquired a new position in Southern Copper in the first quarter worth $340,373,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Southern Copper by 54.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,541,396 shares of the basic materials company’s stock worth $164,190,000 after purchasing an additional 544,312 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Southern Copper by 1.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,014,356 shares of the basic materials company’s stock worth $87,306,000 after purchasing an additional 18,883 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Trading Down 0.1 %

Shares of SCCO traded down $0.12 during trading hours on Thursday, hitting $100.74. 202,827 shares of the stock traded hands, compared to its average volume of 1,164,201. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67. Southern Copper Co. has a 1-year low of $68.93 and a 1-year high of $129.79. The firm has a market capitalization of $78.69 billion, a PE ratio of 33.44, a price-to-earnings-growth ratio of 1.06 and a beta of 1.20. The business has a fifty day moving average of $106.64 and a 200-day moving average of $105.76.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Friday, July 19th. The basic materials company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.09. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $2.96 billion. Analysts expect that Southern Copper Co. will post 4.33 EPS for the current year.

Southern Copper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.38%. The ex-dividend date was Friday, August 9th. Southern Copper’s payout ratio is 79.73%.

Wall Street Analysts Forecast Growth

SCCO has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, June 21st. Scotiabank reduced their price objective on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, May 21st. UBS Group initiated coverage on Southern Copper in a research note on Friday, July 12th. They issued a “neutral” rating and a $120.00 price objective on the stock. Finally, StockNews.com raised Southern Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. Five analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Southern Copper has a consensus rating of “Hold” and an average price target of $89.57.

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.