Cadence Wealth Management LLC Buys 116 Shares of Southern Copper Co. (NYSE:SCCO)

Cadence Wealth Management LLC raised its holdings in Southern Copper Co. (NYSE:SCCO) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,919 shares of the basic materials company’s stock after acquiring an additional 116 shares during the period. Cadence Wealth Management LLC’s holdings in Southern Copper were worth $266,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SCCO. Deseret Mutual Benefit Administrators grew its position in Southern Copper by 210.7% in the fourth 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 last quarter. IFP Advisors Inc grew its position in Southern Copper by 143.4% in the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 281 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Southern Copper in the third quarter valued at about $47,000. Larson Financial Group LLC grew 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 valued at $47,000 after acquiring an additional 347 shares during the last quarter. Finally, Spire Wealth Management acquired a new stake in shares of Southern Copper during the fourth quarter valued at about $47,000. Institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

Southern Copper stock opened at $97.93 on Tuesday. The stock’s 50 day moving average is $93.88 and its 200 day moving average is $100.61. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The firm has a market cap of $77.97 billion, a P/E ratio of 22.67, a P/E/G ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a one year low of $84.33 and a one year high of $127.34.

Southern Copper (NYSE:SCCO) last issued 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 net margin of 29.53% and a return on equity of 40.27%. As a group, research analysts expect that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were paid a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 2.86%. Southern Copper’s payout ratio is 64.81%.

Wall Street Analyst Weigh In

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