HUB Investment Partners LLC Trims Stock Position in Southern Copper Co. (NYSE:SCCO)

HUB Investment Partners LLC decreased its holdings in Southern Copper Co. (NYSE:SCCO) by 41.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,815 shares of the basic materials company’s stock after selling 4,107 shares during the quarter. HUB Investment Partners LLC’s holdings in Southern Copper were worth $530,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators grew its position in shares of Southern Copper by 210.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 257 shares during the period. Larson Financial Group LLC increased 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 worth $47,000 after buying an additional 347 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in Southern Copper in the third quarter worth about $47,000. IFP Advisors Inc lifted 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 valued at $43,000 after buying an additional 281 shares in the last quarter. Finally, Spire Wealth Management bought a new position in shares of Southern Copper during the 4th quarter valued at approximately $47,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Trading Up 1.8 %

Shares of Southern Copper stock opened at $100.98 on Friday. 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 firm has a market cap of $80.39 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a twelve month low of $84.33 and a twelve month high of $127.34. The business has a 50-day moving average price of $94.27 and a 200-day moving average price of $100.57.

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

Southern Copper Increases Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 2.77%. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio (DPR) is 64.81%.

Analyst Ratings Changes

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

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.