Capital Advisors Inc. OK Increases Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Capital Advisors Inc. OK lifted its stake in shares of Southern Copper Co. (NYSE:SCCOGet Rating) by 6.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 308,541 shares of the basic materials company’s stock after acquiring an additional 19,407 shares during the period. Capital Advisors Inc. OK’s holdings in Southern Copper were worth $15,368,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of SCCO. BlackRock Inc. grew its holdings in Southern Copper by 10.7% during the first quarter. BlackRock Inc. now owns 7,022,108 shares of the basic materials company’s stock worth $532,978,000 after acquiring an additional 680,165 shares during the period. Fisher Asset Management LLC lifted its holdings in Southern Copper by 5.5% during the 1st quarter. Fisher Asset Management LLC now owns 3,792,167 shares of the basic materials company’s stock worth $287,826,000 after buying an additional 197,756 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Southern Copper by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,763,612 shares of the basic materials company’s stock valued at $209,759,000 after acquiring an additional 835,044 shares in the last quarter. State Street Corp increased its position in shares of Southern Copper by 4.5% during the 1st quarter. State Street Corp now owns 2,629,660 shares of the basic materials company’s stock valued at $199,591,000 after purchasing an additional 112,609 shares during the period. Finally, Personal Capital Advisors Corp grew its holdings in shares of Southern Copper by 4.8% in the 1st quarter. Personal Capital Advisors Corp now owns 1,191,502 shares of the basic materials company’s stock worth $90,435,000 after acquiring an additional 54,703 shares during the last quarter. Hedge funds and other institutional investors own 7.15% of the company’s stock.

Southern Copper Price Performance

Shares of SCCO traded down $2.12 during mid-day trading on Friday, reaching $43.45. The stock had a trading volume of 63,853 shares, compared to its average volume of 1,450,924. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.58 and a current ratio of 3.29. The business has a fifty day moving average of $47.91 and a 200 day moving average of $58.05. Southern Copper Co. has a 12 month low of $44.31 and a 12 month high of $79.32. The firm has a market cap of $33.59 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.90 and a beta of 1.12.

Southern Copper Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date of this dividend was Wednesday, August 10th. Southern Copper’s dividend payout ratio is presently 79.37%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Citigroup cut Southern Copper from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $70.00 to $40.00 in a research report on Wednesday, July 13th. Barclays lowered their price objective on shares of Southern Copper to $50.00 in a research report on Tuesday, August 9th. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $51.00 to $55.00 in a research note on Friday, September 16th. The Goldman Sachs Group began coverage on shares of Southern Copper in a research report on Friday, August 5th. They set a “neutral” rating and a $65.00 price objective for the company. Finally, Wolfe Research cut shares of Southern Copper from a “peer perform” rating to an “underperform” rating in a research note on Thursday, July 7th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $53.17.

Southern Copper Profile

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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 and lead.

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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