Tyche Wealth Partners LLC Grows Stock Position in Southern Copper Co. (NYSE:SCCO)

Tyche Wealth Partners LLC grew its position in Southern Copper Co. (NYSE:SCCO) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,807 shares of the basic materials company’s stock after acquiring an additional 122 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Southern Copper were worth $1,805,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its position in Southern Copper by 222.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,871 shares of the basic materials company’s stock worth $202,000 after buying an additional 1,291 shares in the last quarter. Truist Financial Corp increased its stake in Southern Copper by 83.4% during the second quarter. Truist Financial Corp now owns 35,185 shares of the basic materials company’s stock worth $3,791,000 after acquiring an additional 15,995 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Southern Copper during the second quarter worth $611,000. GAMMA Investing LLC increased its stake in Southern Copper by 53.0% during the third quarter. GAMMA Investing LLC now owns 517 shares of the basic materials company’s stock worth $60,000 after acquiring an additional 179 shares during the last quarter. Finally, Axiom Advisory LLC increased its stake in Southern Copper by 4.0% during the third quarter. Axiom Advisory LLC now owns 3,328 shares of the basic materials company’s stock worth $385,000 after acquiring an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

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

Southern Copper Stock Up 0.2 %

Shares of NYSE SCCO opened at $93.43 on Thursday. The stock has a market cap of $73.39 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 1.79 and a beta of 1.13. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. Southern Copper Co. has a 52-week low of $77.42 and a 52-week high of $129.79. The business has a 50-day moving average price of $96.04 and a 200 day moving average price of $102.54.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.00%. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, February 10th. Southern Copper’s dividend payout ratio (DPR) is presently 72.09%.

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.