Greenline Partners LLC Purchases 369 Shares of Southern Copper Co. (NYSE:SCCO)

Greenline Partners LLC lifted its position in Southern Copper Co. (NYSE:SCCO) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,986 shares of the basic materials company’s stock after buying an additional 369 shares during the quarter. Southern Copper comprises 1.5% of Greenline Partners LLC’s investment portfolio, making the stock its 17th largest holding. Greenline Partners LLC’s holdings in Southern Copper were worth $10,102,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Fortis Group Advisors LLC grew its stake in shares of Southern Copper by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after buying an additional 151 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in Southern Copper during the first quarter valued at approximately $26,000. Riverview Trust Co bought a new position in shares of Southern Copper in the first quarter valued at approximately $27,000. Hanseatic Management Services Inc. bought a new position in shares of Southern Copper in the second quarter valued at approximately $53,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Southern Copper by 52.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,069 shares of the basic materials company’s stock worth $92,000 after buying an additional 369 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of Southern Copper stock opened at $103.60 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.81 and a quick ratio of 2.27. The company has a market cap of $80.93 billion, a PE ratio of 34.43, a price-to-earnings-growth ratio of 1.02 and a beta of 1.17. The firm has a fifty day moving average price of $101.92 and a two-hundred day moving average price of $107.80. Southern Copper Co. has a fifty-two week low of $68.93 and a fifty-two week high of $129.79.

Southern Copper (NYSE:SCCO) last released its earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.09. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Analysts expect that Southern Copper Co. will post 4.33 EPS for the current year.

Southern Copper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a $0.60 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.32%. Southern Copper’s dividend payout ratio is currently 79.77%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. UBS Group began coverage on shares of Southern Copper in a report on Friday, July 12th. They issued a “neutral” rating and a $120.00 target price on the stock. Morgan Stanley raised their price target on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research report on Thursday. Five analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $89.57.

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.