Atomi Financial Group Inc. Acquires 967 Shares of Southern Copper Co. (NYSE:SCCO)

Atomi Financial Group Inc. grew its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 11.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,070 shares of the basic materials company’s stock after purchasing an additional 967 shares during the quarter. Atomi Financial Group Inc.’s holdings in Southern Copper were worth $977,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norden Group LLC bought a new position in Southern Copper in the 1st quarter worth $1,820,000. Los Angeles Capital Management LLC increased its holdings in shares of Southern Copper by 471.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 31,655 shares of the basic materials company’s stock worth $3,372,000 after purchasing an additional 26,111 shares during the period. Cetera Investment Advisers increased its holdings in shares of Southern Copper by 395.1% during the 1st quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock worth $4,133,000 after purchasing an additional 30,966 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Southern Copper by 378.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 166,398 shares of the basic materials company’s stock worth $14,322,000 after purchasing an additional 131,651 shares during the period. Finally, Corient Private Wealth LLC increased its holdings in shares of Southern Copper by 149.6% during the 4th quarter. Corient Private Wealth LLC now owns 50,057 shares of the basic materials company’s stock worth $4,308,000 after purchasing an additional 29,999 shares during the period. Institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of NYSE SCCO traded up $0.10 during trading on Tuesday, reaching $105.66. The company had a trading volume of 751,636 shares, compared to its average volume of 1,171,443. Southern Copper Co. has a 52 week low of $68.93 and a 52 week high of $129.79. The stock has a market cap of $82.54 billion, a PE ratio of 35.10, a PEG ratio of 1.06 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. The business’s 50 day moving average price is $106.69 and its 200-day moving average price is $105.58.

Southern Copper (NYSE:SCCO) last announced its earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates 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. Analysts expect that Southern Copper Co. will post 4.33 earnings per share for the current year.

Southern Copper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Friday, August 9th. Southern Copper’s dividend payout ratio is presently 79.73%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Scotiabank dropped their price objective on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a report on Tuesday, May 21st. UBS Group started 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. StockNews.com upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Finally, Morgan Stanley lifted their target price on shares of Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a research report on Friday, June 21st. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $89.57.

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.