Stratos Wealth Advisors LLC Buys 261 Shares of Southern Copper Co. (NYSE:SCCO)

Stratos Wealth Advisors LLC grew its stake in shares of Southern Copper Co. (NYSE:SCCO) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,937 shares of the basic materials company’s stock after acquiring an additional 261 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Southern Copper were worth $1,908,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SCCO. Yousif Capital Management LLC boosted its holdings in Southern Copper by 0.9% in the fourth quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company’s stock worth $1,311,000 after purchasing an additional 122 shares during the last quarter. abrdn plc boosted its stake in shares of Southern Copper by 4.4% in the 4th quarter. abrdn plc now owns 2,849,638 shares of the basic materials company’s stock worth $260,428,000 after buying an additional 118,909 shares during the last quarter. SkyOak Wealth LLC grew its holdings in shares of Southern Copper by 40.6% in the fourth quarter. SkyOak Wealth LLC now owns 3,515 shares of the basic materials company’s stock worth $320,000 after acquiring an additional 1,015 shares during the period. Spire Wealth Management purchased a new stake in Southern Copper during the fourth quarter valued at $47,000. Finally, Strategic Advocates LLC lifted its holdings in Southern Copper by 26.3% in the fourth quarter. Strategic Advocates LLC now owns 4,725 shares of the basic materials company’s stock valued at $431,000 after acquiring an additional 985 shares during the period. 7.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on SCCO. Scotiabank cut their price target on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research note on Tuesday, October 15th. JPMorgan Chase & Co. upgraded shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price for the company in a research report on Monday, December 2nd. Finally, Morgan Stanley upgraded 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 report on Thursday, December 12th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Southern Copper presently has a consensus rating of “Hold” and a consensus price target of $94.81.

Southern Copper Stock Performance

SCCO opened at $93.43 on Thursday. The firm has a market cap of $73.39 billion, a P/E ratio of 24.05, a PEG ratio of 1.79 and a beta of 1.13. Southern Copper Co. has a 1-year low of $77.42 and a 1-year high of $129.79. The company has a 50 day simple moving average of $96.04 and a two-hundred day simple moving average of $102.54. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Monday, February 10th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio is presently 72.09%.

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.