Townsquare Capital LLC Buys 606 Shares of Southern Copper Co. (NYSE:SCCO)

Townsquare Capital LLC lifted its position in Southern Copper Co. (NYSE:SCCO) by 7.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,293 shares of the basic materials company’s stock after buying an additional 606 shares during the quarter. Townsquare Capital LLC’s holdings in Southern Copper were worth $847,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in shares of Southern Copper by 28.0% during the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 114 shares during the last quarter. Cadence Wealth Management LLC increased its position in Southern Copper by 4.1% during the fourth quarter. Cadence Wealth Management LLC now owns 2,919 shares of the basic materials company’s stock worth $266,000 after buying an additional 116 shares during the last quarter. Tyche Wealth Partners LLC lifted its position in shares of Southern Copper by 0.6% in the fourth quarter. Tyche Wealth Partners LLC now owns 19,807 shares of the basic materials company’s stock valued at $1,805,000 after buying an additional 122 shares during the last quarter. Yousif Capital Management LLC lifted its position in shares of Southern Copper by 0.9% in the fourth quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company’s stock valued at $1,311,000 after buying an additional 122 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Southern Copper by 1.7% during the 4th quarter. Signaturefd LLC now owns 8,043 shares of the basic materials company’s stock worth $733,000 after acquiring an additional 133 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Trading Up 0.3 %

Shares of NYSE:SCCO opened at $86.47 on Friday. The company has a market capitalization of $68.84 billion, a P/E ratio of 20.01, a P/E/G ratio of 1.90 and a beta of 1.04. 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 business’s 50 day simple moving average is $91.25 and its 200 day simple moving average is $98.21. Southern Copper Co. has a 1 year low of $74.84 and a 1 year high of $127.34.

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

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were given a dividend of $0.70 per share. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.80 annualized dividend and a dividend yield of 3.24%. Southern Copper’s dividend payout ratio (DPR) is currently 64.81%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SCCO shares. Scotiabank lifted their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a research report on Monday, March 10th. UBS Group decreased their price target on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on Southern Copper from $84.00 to $83.50 and set a “neutral” rating for the company in a report on Monday, April 14th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Southern Copper has a consensus rating of “Hold” and a consensus price target of $89.58.

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.