Independent Solutions Wealth Management LLC Raises Stock Position in Southern Copper Co. (NYSE:SCCO)

Independent Solutions Wealth Management LLC grew its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,767 shares of the basic materials company’s stock after buying an additional 474 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Southern Copper were worth $2,633,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SCCO. Creative Financial Designs Inc. ADV increased its position in Southern Copper by 172.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 141 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Southern Copper during the 2nd quarter valued at about $31,000. McClarren Financial Advisors Inc. raised its position in Southern Copper by 169.2% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 181 shares during the period. Oakworth Capital Inc. purchased a new stake in Southern Copper in the 3rd quarter worth about $42,000. Finally, Prospera Private Wealth LLC bought a new stake in Southern Copper in the third quarter worth about $47,000. Institutional investors own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SCCO shares. Citigroup increased their price target on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price for the company in a research report on Monday, December 2nd. Scotiabank cut their price target on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a report on Tuesday, October 15th. Finally, Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their price objective for the company from $106.30 to $102.00 in a report on Thursday, December 12th. Four 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $94.81.

Southern Copper Stock Down 1.8 %

Shares of NYSE:SCCO traded down $1.66 during trading hours on Thursday, hitting $91.30. The company’s stock had a trading volume of 551,372 shares, compared to its average volume of 1,114,748. The firm’s fifty day moving average price is $106.18 and its 200 day moving average price is $106.52. Southern Copper Co. has a 52 week low of $77.14 and a 52 week high of $129.79. The company has a market capitalization of $71.72 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 1.56 and a beta of 1.14. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31.

Southern Copper Announces Dividend

The business also recently announced a — dividend, which was paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is presently 72.16%.

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.