Greenwood Capital Associates LLC Reduces Position in Southern Copper Co. (NYSE:SCCO)

Greenwood Capital Associates LLC decreased its holdings in Southern Copper Co. (NYSE:SCCO) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,911 shares of the basic materials company’s stock after selling 811 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Southern Copper were worth $1,359,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Creative Financial Designs Inc. ADV raised its position in shares of Southern Copper by 172.0% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 141 shares in the last quarter. McClarren Financial Advisors Inc. increased its stake in shares of Southern Copper by 169.2% in the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock worth $33,000 after buying an additional 181 shares during the last quarter. Oakworth Capital Inc. acquired a new stake in Southern Copper in the third quarter valued at $42,000. Larson Financial Group LLC boosted its stake in Southern Copper by 578.3% during the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 347 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in Southern Copper during the 3rd quarter worth $47,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SCCO shares. Scotiabank reduced 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 research report on Tuesday, October 15th. Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Southern Copper currently has an average rating of “Hold” and an average price target of $94.81.

Southern Copper Trading Up 2.6 %

Southern Copper stock opened at $92.31 on Tuesday. Southern Copper Co. has a 12-month low of $77.42 and a 12-month high of $129.79. The stock has a market capitalization of $72.51 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 1.79 and a beta of 1.13. The firm has a 50 day simple moving average of $96.39 and a 200-day simple moving average of $102.71. 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 company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, February 10th. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a dividend yield of 3.03%. Southern Copper’s dividend payout ratio (DPR) is 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.