Cumberland Partners Ltd Purchases 151 Shares of Southern Copper Co. (NYSE:SCCO)

Cumberland Partners Ltd raised its position in shares of Southern Copper Co. (NYSE:SCCO) by 0.6% during the fourth quarter, HoldingsChannel reports. The firm owned 24,683 shares of the basic materials company’s stock after purchasing an additional 151 shares during the period. Cumberland Partners Ltd’s holdings in Southern Copper were worth $2,249,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SCCO. Creative Financial Designs Inc. ADV raised its holdings in shares of Southern Copper by 172.0% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after buying an additional 141 shares in the last quarter. Oakworth Capital Inc. bought a new position in Southern Copper during the third quarter valued at approximately $42,000. Prospera Private Wealth LLC purchased a new position in shares of Southern Copper during the third quarter worth approximately $47,000. Larson Financial Group LLC lifted its holdings in shares of Southern Copper by 578.3% in the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 347 shares during the last quarter. Finally, Spire Wealth Management purchased a new stake in shares of Southern Copper in the 4th quarter valued at $47,000. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SCCO has been the topic of a number of analyst reports. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective on the stock in a report on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $94.81.

Southern Copper Stock Performance

Southern Copper stock opened at $96.40 on Thursday. Southern Copper Co. has a 1-year low of $78.82 and a 1-year high of $129.79. The firm has a market cap of $75.73 billion, a P/E ratio of 22.31, a P/E/G ratio of 1.89 and a beta of 1.13. 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 firm has a 50-day moving average of $94.83 and a 200-day moving average of $101.94.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share 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%. Sell-side analysts expect that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 2.90%. Southern Copper’s dividend payout ratio is 64.81%.

Southern Copper 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.