Mercer Global Advisors Inc. ADV Cuts Holdings in Southern Copper Co. (NYSE:SCCO)

Mercer Global Advisors Inc. ADV reduced its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 4.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,358 shares of the basic materials company’s stock after selling 833 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Southern Copper were worth $2,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Southern Copper in the fourth quarter worth approximately $71,802,000. Wells Fargo & Company MN grew its position in Southern Copper by 21.9% in the 4th quarter. Wells Fargo & Company MN now owns 179,082 shares of the basic materials company’s stock worth $15,414,000 after purchasing an additional 32,120 shares during the period. D.A. Davidson & CO. raised its stake in Southern Copper by 5.6% during the 4th quarter. D.A. Davidson & CO. now owns 3,664 shares of the basic materials company’s stock valued at $315,000 after buying an additional 195 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Southern Copper by 149.6% during the 4th quarter. Corient Private Wealth LLC now owns 50,057 shares of the basic materials company’s stock valued at $4,308,000 after buying an additional 29,999 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings 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 acquiring an additional 369 shares during the period. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Stock Performance

SCCO opened at $106.07 on Tuesday. The firm has a market cap of $82.86 billion, a P/E ratio of 35.24, a PEG ratio of 1.02 and a beta of 1.17. Southern Copper Co. has a 1-year low of $68.93 and a 1-year high of $129.79. The company has a 50 day simple moving average of $101.79 and a two-hundred day simple moving average of $108.14. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.81 and a quick ratio of 2.27.

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

Southern Copper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Friday, August 9th. Southern Copper’s dividend payout ratio (DPR) is currently 79.73%.

Wall Street Analyst Weigh In

SCCO has been the subject of a number of research reports. UBS Group assumed coverage on Southern Copper in a research report on Friday, July 12th. They set a “neutral” rating and a $120.00 price objective for the company. Morgan Stanley upped their target price on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a report on Thursday, September 19th. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $89.57.

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.