Mission Wealth Management LP Buys 665 Shares of Southern Copper Co. (NYSE:SCCO)

Mission Wealth Management LP lifted its stake in shares of Southern Copper Co. (NYSE:SCCO) by 16.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,597 shares of the basic materials company’s stock after purchasing an additional 665 shares during the quarter. Mission Wealth Management LP’s holdings in Southern Copper were worth $419,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SCCO. Creative Financial Designs Inc. ADV raised its holdings in shares of Southern Copper by 172.0% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 141 shares during the last quarter. Deseret Mutual Benefit Administrators raised its holdings in shares of Southern Copper by 210.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 257 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Southern Copper by 143.4% in the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 281 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Southern Copper in the 3rd quarter worth about $47,000. Finally, Larson Financial Group LLC raised its holdings in shares of Southern Copper by 578.3% in the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 347 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Up 5.1 %

Shares of SCCO stock opened at $90.30 on Thursday. The company has a 50 day moving average of $93.95 and a 200-day moving average of $101.28. 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 Co. has a 12-month low of $81.12 and a 12-month high of $129.79. The firm has a market cap of $70.93 billion, a P/E ratio of 20.90, a PEG ratio of 1.90 and a beta of 1.12.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 EPS 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%. Sell-side analysts anticipate that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.10%. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, February 11th. Southern Copper’s dividend payout ratio (DPR) is presently 64.81%.

Analyst Upgrades and Downgrades

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

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.