Southern Copper Co. (NYSE:SCCO) Shares Sold by Cadence Wealth Management LLC

Cadence Wealth Management LLC cut its holdings in Southern Copper Co. (NYSE:SCCO) by 38.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,791 shares of the basic materials company’s stock after selling 1,734 shares during the quarter. Cadence Wealth Management LLC’s holdings in Southern Copper were worth $301,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of SCCO. Fortis Group Advisors LLC increased its position in Southern Copper by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock worth $26,000 after buying an additional 151 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Southern Copper during the 1st quarter worth about $26,000. Riverview Trust Co acquired a new position in shares of Southern Copper in the first quarter valued at approximately $27,000. Hanseatic Management Services Inc. purchased a new position in shares of Southern Copper during the second quarter valued at approximately $53,000. Finally, EverSource Wealth Advisors LLC grew its stake in Southern Copper by 52.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,069 shares of the basic materials company’s stock worth $92,000 after acquiring an additional 369 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Up 0.3 %

Shares of NYSE:SCCO traded up $0.29 during mid-day trading on Friday, hitting $101.72. 1,415,860 shares of the company traded hands, compared to its average volume of 933,368. The firm’s 50 day simple moving average is $106.17 and its 200 day simple moving average is $106.04. The firm has a market cap of $79.46 billion, a P/E ratio of 33.81, a PEG ratio of 1.04 and a beta of 1.20. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.27 and a current ratio of 2.81. Southern Copper Co. has a 52-week low of $68.93 and a 52-week high of $129.79.

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

Southern Copper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a $0.60 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.40 dividend on an annualized basis and a yield of 2.36%. Southern Copper’s payout ratio is currently 79.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. UBS Group began coverage on Southern Copper in a report on Friday, July 12th. They set a “neutral” rating and a $120.00 price objective on the stock. StockNews.com upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Morgan Stanley upped their price objective on Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a report on Friday, June 21st. Finally, Scotiabank reduced their target price on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a report on Tuesday, May 21st. Five research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.