HBK Sorce Advisory LLC Sells 205 Shares of Southern Copper Co. (NYSE:SCCO)

HBK Sorce Advisory LLC lowered its stake in shares of Southern Copper Co. (NYSE:SCCO) by 5.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,525 shares of the basic materials company’s stock after selling 205 shares during the period. HBK Sorce Advisory LLC’s holdings in Southern Copper were worth $321,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in SCCO. Deseret Mutual Benefit Administrators boosted its position in Southern Copper by 210.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 257 shares during the period. IFP Advisors Inc boosted its position in Southern Copper by 143.4% during the fourth 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 period. Prospera Private Wealth LLC bought a new position in Southern Copper during the third quarter worth about $47,000. Larson Financial Group LLC boosted its position in 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. Finally, Spire Wealth Management bought a new position in Southern Copper during the fourth quarter worth about $47,000. Institutional investors own 7.94% of the company’s stock.

Analysts Set New Price Targets

SCCO has been the subject of a number of analyst reports. 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 report on Thursday. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. upgraded shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research report on Monday, December 2nd. Finally, Scotiabank raised their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research report on Monday, March 10th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $97.31.

Southern Copper Trading Up 4.0 %

Shares of SCCO opened at $96.13 on Friday. The firm’s 50 day simple moving average is $93.79 and its 200 day simple moving average is $100.64. The company has a market capitalization of $76.54 billion, a P/E ratio of 22.25, a P/E/G ratio of 1.90 and a beta of 1.12. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. Southern Copper Co. has a 1-year low of $84.33 and a 1-year high of $129.79.

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

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.70 per share. The ex-dividend date was Tuesday, February 11th. 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 2.91%. Southern Copper’s dividend payout ratio (DPR) is 64.81%.

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.