Jamison Private Wealth Management Inc. Acquires 2,011 Shares of Southern Copper Co. (NYSE:SCCO)

Jamison Private Wealth Management Inc. grew its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,793 shares of the basic materials company’s stock after acquiring an additional 2,011 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Southern Copper were worth $7,379,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SCCO. Price T Rowe Associates Inc. MD increased its position in Southern Copper by 18.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock worth $827,804,000 after purchasing an additional 1,192,111 shares in the last quarter. Capital World Investors bought a new position in shares of Southern Copper in the 1st quarter valued at $340,373,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Southern Copper by 54.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,541,396 shares of the basic materials company’s stock valued at $164,190,000 after acquiring an additional 544,312 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Southern Copper by 0.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 630,579 shares of the basic materials company’s stock valued at $67,939,000 after acquiring an additional 4,580 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Southern Copper by 1,300.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 443,285 shares of the basic materials company’s stock worth $47,760,000 after acquiring an additional 411,630 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SCCO shares. Citigroup lifted their price target on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd. UBS Group began coverage on shares of Southern Copper in a research report on Friday, July 12th. They set a “neutral” rating and a $120.00 target price on the stock. Morgan Stanley upped their price target on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. Finally, Scotiabank cut their price target on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a report on Tuesday. Six investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $90.63.

Southern Copper Stock Performance

SCCO stock opened at $111.48 on Wednesday. Southern Copper Co. has a 1-year low of $68.93 and a 1-year high of $129.79. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $105.62 and a 200-day moving average price of $109.98. The firm has a market cap of $87.08 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18.

Southern Copper (NYSE:SCCO) last released its earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.09. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $2.96 billion. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. As a group, equities research analysts expect that Southern Copper Co. will post 4.5 earnings per share for the current year.

Southern Copper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, August 9th. This represents a $2.40 dividend on an annualized basis and a yield of 2.15%. Southern Copper’s dividend payout ratio (DPR) is presently 79.73%.

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.