Moran Wealth Management LLC Sells 298 Shares of Southern Copper Co. (NYSE:SCCO)

Moran Wealth Management LLC lowered its position in Southern Copper Co. (NYSE:SCCO) by 4.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,743 shares of the basic materials company’s stock after selling 298 shares during the period. Moran Wealth Management LLC’s holdings in Southern Copper were worth $523,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SCCO. M&T Bank Corp boosted its stake in Southern Copper by 0.5% during the third quarter. M&T Bank Corp now owns 20,460 shares of the basic materials company’s stock worth $2,367,000 after acquiring an additional 105 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Southern Copper by 28.0% during the fourth quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 114 shares during the last quarter. Tyche Wealth Partners LLC boosted its position in shares of Southern Copper by 0.6% in the 4th quarter. Tyche Wealth Partners LLC now owns 19,807 shares of the basic materials company’s stock worth $1,805,000 after purchasing an additional 122 shares in the last quarter. Yousif Capital Management LLC grew its stake in shares of Southern Copper by 0.9% in the 4th quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company’s stock worth $1,311,000 after buying an additional 122 shares during the last quarter. Finally, 180 Wealth Advisors LLC grew its stake in shares of Southern Copper by 3.6% in the 4th quarter. 180 Wealth Advisors LLC now owns 4,062 shares of the basic materials company’s stock worth $370,000 after buying an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of SCCO stock opened at $90.30 on Thursday. The firm has a market capitalization of $70.93 billion, a PE ratio of 20.90, a P/E/G ratio of 1.90 and a beta of 1.12. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The company has a 50 day moving average price of $93.71 and a 200-day moving average price of $100.79. Southern Copper Co. has a 52 week low of $84.33 and a 52 week high of $129.79.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share 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%. As a group, equities research analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were issued a $0.70 dividend. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Tuesday, February 11th. Southern Copper’s dividend payout ratio (DPR) is currently 64.81%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SCCO shares. Scotiabank boosted their target price on Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a report on Monday. Morgan Stanley raised 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. Finally, JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective on the stock in a research report on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $97.31.

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.