Advisors Asset Management Inc. Has $5.36 Million Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Advisors Asset Management Inc. cut its position in shares of Southern Copper Co. (NYSE:SCCO) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,796 shares of the basic materials company’s stock after selling 1,080 shares during the period. Advisors Asset Management Inc.’s holdings in Southern Copper were worth $5,358,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SCCO. Deseret Mutual Benefit Administrators boosted its stake in Southern Copper by 210.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 257 shares during the period. IFP Advisors Inc boosted its position in shares of Southern Copper by 143.4% during the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 281 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Southern Copper in the 3rd quarter valued at $47,000. Larson Financial Group LLC grew its position in Southern Copper by 578.3% in the third 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, Spire Wealth Management acquired a new position in Southern Copper during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SCCO shares. UBS Group raised shares of Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Thursday, March 13th. Scotiabank increased their price target on Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price for the company in a report on Monday, December 2nd. Finally, Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $97.31.

Southern Copper Trading Up 0.9 %

Shares of SCCO stock opened at $99.65 on Thursday. The stock has a 50-day moving average of $94.06 and a 200-day moving average of $100.58. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The stock has a market cap of $79.34 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a 1-year low of $84.33 and a 1-year high of $127.34.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. On average, equities research analysts forecast that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were given a dividend of $0.70 per share. The ex-dividend date was Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a yield of 2.81%. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio is 64.81%.

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.