Jamison Private Wealth Management Inc. Acquires 2,223 Shares of Southern Copper Co. (NYSE:SCCO)

Jamison Private Wealth Management Inc. raised its holdings in Southern Copper Co. (NYSE:SCCO) by 3.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 66,016 shares of the basic materials company’s stock after purchasing an additional 2,223 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Southern Copper were worth $6,016,000 as of its most recent filing with the Securities & Exchange Commission.

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

Southern Copper Stock Performance

Shares of Southern Copper stock opened at $96.52 on Friday. The company has a 50 day moving average of $97.37 and a 200-day moving average of $103.61. The company has a market cap of $75.82 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a 1-year low of $77.42 and a 1-year high of $129.79.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Monday, February 10th. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio (DPR) is currently 72.16%.

Analyst Ratings Changes

SCCO has been the topic of a number of research reports. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective on the stock in a report on Monday, December 2nd. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. Citigroup boosted their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a report on Wednesday, October 2nd. Finally, Scotiabank lowered their target price on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $94.81.

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.