Hexagon Capital Partners LLC trimmed its stake in Southern Copper Co. (NYSE:SCCO – Get Rating) by 45.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,300 shares of the basic materials company’s stock after selling 1,067 shares during the period. Hexagon Capital Partners LLC’s holdings in Southern Copper were worth $79,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. lifted its holdings in Southern Copper by 1.2% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 13,418 shares of the basic materials company’s stock worth $810,000 after buying an additional 165 shares during the period. Confluence Investment Management LLC lifted its holdings in Southern Copper by 2.4% in the fourth quarter. Confluence Investment Management LLC now owns 7,233 shares of the basic materials company’s stock worth $437,000 after buying an additional 167 shares during the period. Captrust Financial Advisors lifted its holdings in Southern Copper by 4.6% in the first quarter. Captrust Financial Advisors now owns 4,488 shares of the basic materials company’s stock worth $341,000 after buying an additional 196 shares during the period. American Research & Management Co. lifted its holdings in Southern Copper by 42.3% in the third quarter. American Research & Management Co. now owns 740 shares of the basic materials company’s stock worth $33,000 after buying an additional 220 shares during the period. Finally, Laffer Tengler Investments lifted its holdings in Southern Copper by 6.9% in the third quarter. Laffer Tengler Investments now owns 3,429 shares of the basic materials company’s stock worth $154,000 after buying an additional 222 shares during the period. Institutional investors own 7.03% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on SCCO. Citigroup raised their target price on shares of Southern Copper from $40.00 to $60.00 in a research note on Wednesday, January 11th. StockNews.com began coverage on shares of Southern Copper in a research note on Thursday, March 16th. They set a “buy” rating for the company. UBS Group raised their target price on shares of Southern Copper from $48.00 to $51.00 and gave the company a “sell” rating in a research note on Thursday, February 23rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Southern Copper from $45.00 to $50.00 in a research report on Tuesday, January 10th. Finally, Wolfe Research raised shares of Southern Copper from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 11th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Southern Copper currently has an average rating of “Hold” and an average price target of $57.86.
Insider Buying and Selling
Southern Copper Trading Up 0.6 %
Shares of SCCO stock opened at $71.36 on Friday. Southern Copper Co. has a 12-month low of $42.42 and a 12-month high of $79.32. The company has a current ratio of 4.20, a quick ratio of 3.38 and a debt-to-equity ratio of 0.77. The firm’s 50 day moving average is $74.08 and its 200 day moving average is $61.26. The stock has a market capitalization of $55.17 billion, a P/E ratio of 20.87, a P/E/G ratio of 3.86 and a beta of 1.22.
Southern Copper Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Tuesday, February 14th were issued a $1.00 dividend. The ex-dividend date of this dividend was Monday, February 13th. This represents a $4.00 annualized dividend and a yield of 5.61%. This is a boost from Southern Copper’s previous quarterly dividend of $0.50. Southern Copper’s dividend payout ratio (DPR) is currently 116.96%.
About Southern Copper
Southern Copper Corp. engages in the development, production, and exploration of copper, molybdenum, zinc, and silver. It operates through the following segments: Peruvian Operations, Mexican Open-Pit Operations, and Mexican Underground Mining Operations. The Peruvian Operations segment focuses on the Toquepala and Cuajone mine complexes and the smelting and refining plants, industrial railroad, and port facilities that service both mines.
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