Southern Copper Co. (NYSE:SCCO) Shares Sold by RWC Asset Advisors US LLC

RWC Asset Advisors US LLC lessened its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 320,481 shares of the basic materials company’s stock after selling 229 shares during the quarter. Southern Copper accounts for approximately 5.8% of RWC Asset Advisors US LLC’s holdings, making the stock its 7th largest holding. RWC Asset Advisors US LLC’s holdings in Southern Copper were worth $29,205,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. M&T Bank Corp increased its position in shares of Southern Copper by 0.5% during the third quarter. M&T Bank Corp now owns 20,460 shares of the basic materials company’s stock worth $2,367,000 after acquiring an additional 105 shares in the last quarter. Tyche Wealth Partners LLC boosted its stake in Southern Copper by 0.6% in the 3rd quarter. Tyche Wealth Partners LLC now owns 19,685 shares of the basic materials company’s stock worth $2,277,000 after purchasing an additional 109 shares during the period. Greenwood Capital Associates LLC increased its holdings in Southern Copper by 0.7% during the 3rd quarter. Greenwood Capital Associates LLC now owns 15,722 shares of the basic materials company’s stock worth $1,819,000 after purchasing an additional 112 shares in the last quarter. Yousif Capital Management LLC increased its holdings in Southern Copper by 0.9% during the 4th quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company’s stock worth $1,311,000 after purchasing an additional 122 shares in the last quarter. Finally, Financial Advocates Investment Management raised its stake in shares of Southern Copper by 3.5% in the 3rd quarter. Financial Advocates Investment Management now owns 3,808 shares of the basic materials company’s stock valued at $440,000 after purchasing an additional 127 shares during the period. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Down 5.1 %

SCCO stock opened at $92.87 on Monday. The company has a market cap of $72.95 billion, a price-to-earnings ratio of 21.50, a P/E/G ratio of 1.90 and a beta of 1.13. Southern Copper Co. has a twelve month low of $78.82 and a twelve month high of $129.79. The business has a 50 day moving average price of $94.61 and a two-hundred day moving average price of $101.93. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64.

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 net margin of 29.53% and a return on equity of 40.27%. Analysts anticipate that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Tuesday, February 11th. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio (DPR) is 64.81%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SCCO shares. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research report on Monday, December 2nd. Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $94.81.

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.