Balboa Wealth Partners Buys 228 Shares of Southern Copper Co. (NYSE:SCCO)

Balboa Wealth Partners raised its stake in Southern Copper Co. (NYSE:SCCO) by 9.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,558 shares of the basic materials company’s stock after acquiring an additional 228 shares during the quarter. Balboa Wealth Partners’ holdings in Southern Copper were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Deseret Mutual Benefit Administrators increased its holdings in shares of Southern Copper by 210.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 257 shares in the last quarter. IFP Advisors Inc boosted its position in Southern Copper by 143.4% in the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock valued at $43,000 after buying 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 valued at $47,000. Larson Financial Group LLC raised its position in shares of Southern Copper by 578.3% during the third 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. Finally, Spire Wealth Management acquired a new position in shares of Southern Copper during the fourth quarter valued at $47,000. 7.94% of the stock is owned by institutional investors.

Southern Copper Trading Up 2.3 %

SCCO opened at $92.45 on Friday. The firm’s fifty day moving average is $93.71 and its two-hundred day moving average is $100.74. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The firm has a market cap of $72.62 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12. Southern Copper Co. has a twelve month low of $84.33 and a twelve month high of $129.79.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. Equities research analysts anticipate that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were paid a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.80 dividend on an annualized basis and a yield of 3.03%. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s payout ratio is presently 64.81%.

Analysts Set New Price Targets

A number of brokerages recently commented on SCCO. JPMorgan Chase & Co. upgraded 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. Scotiabank lifted their price target on shares of Southern Copper from $52.00 to $72.00 and gave the stock a “sector underperform” rating in a research report on Monday. UBS Group upgraded shares of Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Thursday. Finally, Morgan Stanley raised 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. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $97.31.

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.