Atomi Financial Group Inc. Has $1.08 Million Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Atomi Financial Group Inc. lifted its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 3.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 9,364 shares of the basic materials company’s stock after acquiring an additional 294 shares during the period. Atomi Financial Group Inc.’s holdings in Southern Copper were worth $1,083,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors acquired a new stake in shares of Southern Copper during the 1st quarter worth about $340,373,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Southern Copper by 18.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock worth $827,804,000 after buying an additional 1,192,111 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Southern Copper by 54.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,541,396 shares of the basic materials company’s stock valued at $164,190,000 after acquiring an additional 544,312 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Southern Copper by 1,300.4% in the second quarter. Los Angeles Capital Management LLC now owns 443,285 shares of the basic materials company’s stock valued at $47,760,000 after acquiring an additional 411,630 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Southern Copper in the 1st quarter worth approximately $27,163,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Trading Down 3.8 %

Shares of SCCO opened at $113.11 on Wednesday. The stock’s fifty day simple moving average is $103.93 and its 200-day simple moving average is $109.54. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $88.36 billion, a PE ratio of 37.59, a price-to-earnings-growth ratio of 1.20 and a beta of 1.18. Southern Copper Co. has a 12-month low of $68.93 and a 12-month high of $129.79.

Southern Copper (NYSE:SCCO) last issued its earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) 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 company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $2.96 billion. As a group, research analysts predict that Southern Copper Co. will post 4.32 earnings per share for the current year.

Southern Copper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Friday, August 9th. Southern Copper’s payout ratio is 79.77%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. UBS Group started coverage on Southern Copper in a report on Friday, July 12th. They set a “neutral” rating and a $120.00 price target for the company. Morgan Stanley raised their target price on Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Finally, Citigroup lifted their price target on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a report on Wednesday, October 2nd. Six equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Southern Copper currently has a consensus rating of “Hold” and an average price target of $90.88.

Southern Copper Company 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.