Independent Solutions Wealth Management LLC Sells 424 Shares of Southern Copper Co. (NYSE:SCCO)

Independent Solutions Wealth Management LLC cut its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,343 shares of the basic materials company’s stock after selling 424 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Southern Copper were worth $2,036,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCCO. Principal Financial Group Inc. boosted its holdings in shares of Southern Copper by 33.7% in the third quarter. Principal Financial Group Inc. now owns 9,693 shares of the basic materials company’s stock valued at $1,121,000 after buying an additional 2,442 shares during the period. Empowered Funds LLC bought a new stake in Southern Copper in the 3rd quarter valued at $456,000. Quest Partners LLC boosted its stake in Southern Copper by 51.8% in the 3rd quarter. Quest Partners LLC now owns 6,228 shares of the basic materials company’s stock worth $720,000 after purchasing an additional 2,126 shares during the period. Pathstone Holdings LLC increased its holdings in Southern Copper by 2.0% during the 3rd quarter. Pathstone Holdings LLC now owns 12,523 shares of the basic materials company’s stock worth $1,448,000 after purchasing an additional 247 shares in the last quarter. Finally, Caprock Group LLC acquired a new stake in shares of Southern Copper in the 3rd quarter valued at about $217,000. 7.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Southern Copper Trading Down 0.3 %

Shares of Southern Copper stock opened at $99.28 on Friday. Southern Copper Co. has a 12-month low of $84.33 and a 12-month high of $127.34. 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 business’s 50 day moving average is $94.14 and its 200-day moving average is $100.57. The stock has a market cap of $79.05 billion, a P/E ratio of 22.98, a P/E/G ratio of 1.90 and a beta of 1.12.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) 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%. Equities research analysts predict that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were paid a $0.70 dividend. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 2.82%. The ex-dividend date was Tuesday, February 11th. Southern Copper’s dividend payout ratio (DPR) is 64.81%.

Southern Copper Company 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.