84,337 Shares in Southern Copper Co. (NYSE:SCCO) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new stake in shares of Southern Copper Co. (NYSE:SCCO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 84,337 shares of the basic materials company’s stock, valued at approximately $84,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of Southern Copper by 74.6% during the third quarter. JPMorgan Chase & Co. now owns 1,402,983 shares of the basic materials company’s stock valued at $162,283,000 after buying an additional 599,610 shares during the last quarter. Itau Unibanco Holding S.A. increased its position in Southern Copper by 115,910.7% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 336,431 shares of the basic materials company’s stock valued at $38,915,000 after acquiring an additional 336,141 shares during the period. Fisher Asset Management LLC raised its stake in Southern Copper by 10.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,963,572 shares of the basic materials company’s stock valued at $342,796,000 after acquiring an additional 283,562 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Southern Copper by 1,601.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock worth $22,275,000 after acquiring an additional 181,252 shares during the period. Finally, abrdn plc grew its stake in shares of Southern Copper by 4.4% in the fourth quarter. abrdn plc now owns 2,849,638 shares of the basic materials company’s stock worth $260,428,000 after purchasing an additional 118,909 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. Scotiabank boosted their target price on Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a report on Monday. UBS Group raised Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Thursday. Finally, 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 report on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $97.31.

Southern Copper Trading Up 2.3 %

Shares of SCCO opened at $92.45 on Friday. The business’s 50-day moving average price is $93.71 and its 200 day moving average price is $100.74. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $72.62 billion, a P/E ratio of 21.40, a P/E/G ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a 1-year low of $84.33 and a 1-year high of $129.79.

Southern Copper (NYSE:SCCO) last released its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share 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%. Analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.70 per share. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date was Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.03%. Southern Copper’s payout ratio is currently 64.81%.

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.