Holderness Investments Co. Lowers Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Holderness Investments Co. cut its holdings in Southern Copper Co. (NYSE:SCCO) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,370 shares of the basic materials company’s stock after selling 113 shares during the quarter. Holderness Investments Co.’s holdings in Southern Copper were worth $580,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SCCO. Deseret Mutual Benefit Administrators raised its position 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 worth $35,000 after purchasing an additional 257 shares during the last quarter. Larson Financial Group LLC increased its stake in Southern Copper by 578.3% during the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock worth $47,000 after buying an additional 347 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Southern Copper during the third quarter valued at approximately $47,000. IFP Advisors Inc lifted its position in shares of Southern Copper by 143.4% in the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 281 shares in the last quarter. Finally, Spire Wealth Management acquired a new stake in shares of Southern Copper in the fourth quarter worth approximately $47,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Price Performance

Shares of SCCO stock opened at $99.28 on Friday. The firm’s 50-day moving average is $94.14 and its two-hundred day moving average is $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 debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The company has a market capitalization of $79.05 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results 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%. Analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.82%. The ex-dividend date was Tuesday, February 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio is 64.81%.

Wall Street Analysts Forecast Growth

SCCO has been the topic of a number of research reports. UBS Group upgraded Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Thursday, March 13th. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $106.30 to $102.00 in a research note on Thursday, December 12th. Scotiabank upped 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 note on Monday, March 10th. Finally, 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. 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.