Outlook Wealth Advisors LLC Takes $319,000 Position in Southern Copper Co. (NYSE:SCCO)

Outlook Wealth Advisors LLC acquired a new stake in shares of Southern Copper Co. (NYSE:SCCO) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,960 shares of the basic materials company’s stock, valued at approximately $319,000.

A number of other institutional investors and hedge funds have also modified their holdings of SCCO. Price T Rowe Associates Inc. MD boosted its stake in Southern Copper by 18.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock valued at $827,804,000 after buying an additional 1,192,111 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Southern Copper by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 3,349,984 shares of the basic materials company’s stock valued at $288,333,000 after buying an additional 39,422 shares in the last quarter. Capital World Investors acquired a new stake in Southern Copper in the 1st quarter valued at $340,373,000. abrdn plc boosted its stake in Southern Copper by 2.3% in the 4th quarter. abrdn plc now owns 3,041,233 shares of the basic materials company’s stock valued at $261,759,000 after buying an additional 67,930 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 buying an additional 544,312 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on SCCO. CICC Research began coverage on Southern Copper in a research note on Wednesday, April 24th. They issued an “outperform” rating on the stock. UBS Group began coverage on Southern Copper in a research note on Friday, July 12th. They issued a “neutral” rating and a $120.00 price objective on the stock. HSBC lowered Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective on the stock. in a research note on Monday, April 22nd. Morgan Stanley boosted their price objective on Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, June 21st. Finally, StockNews.com raised Southern Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. Five investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $89.57.

Southern Copper Trading Down 1.8 %

NYSE SCCO traded down $1.91 on Friday, reaching $103.88. The company had a trading volume of 938,375 shares, compared to its average volume of 1,186,974. The stock’s 50 day moving average is $107.07 and its 200-day moving average is $104.33. The stock has a market cap of $81.15 billion, a price-to-earnings ratio of 34.51, a PEG ratio of 1.01 and a beta of 1.20. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67. Southern Copper Co. has a 52 week low of $68.93 and a 52 week high of $129.79.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Friday, July 19th. The basic materials company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.09. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $2.96 billion. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. Equities analysts predict that Southern Copper Co. will post 4.33 earnings per share for the current year.

Southern Copper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be issued a $0.60 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.40 annualized dividend and a dividend yield of 2.31%. Southern Copper’s dividend payout ratio (DPR) is currently 79.73%.

Southern Copper Company 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.