Crowley Wealth Management Inc. Buys New Shares in Southern Copper Co. (NYSE:SCCO)

Crowley Wealth Management Inc. acquired a new stake in shares of Southern Copper Co. (NYSE:SCCO) during the fourth quarter, Holdings Channel reports. The fund acquired 1,659 shares of the basic materials company’s stock, valued at approximately $151,000.

Several other large investors have also recently modified their holdings of SCCO. Whittier Trust Co. of Nevada Inc. bought a new position in Southern Copper during the 4th quarter worth approximately $30,000. Deseret Mutual Benefit Administrators boosted its stake in shares of Southern Copper by 210.7% during 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 during the period. IFP Advisors Inc grew its holdings in shares of Southern Copper by 143.4% in the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 281 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Southern Copper in the third quarter worth $47,000. Finally, Larson Financial Group LLC raised its holdings in Southern Copper by 578.3% during the 3rd quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock valued at $47,000 after buying an additional 347 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Up 1.8 %

Shares of Southern Copper stock opened at $100.98 on Friday. Southern Copper Co. has a 1 year low of $84.33 and a 1 year high of $127.34. The firm has a market cap of $80.39 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 1.90 and a beta of 1.12. The company has a 50-day moving average of $94.27 and a 200 day moving average of $100.60. 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 (NYSE:SCCO) last announced its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. As a group, sell-side analysts anticipate that Southern Copper Co. will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently announced 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 2.77%. 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 payout ratio is 64.81%.

Analyst Ratings Changes

Several brokerages have recently commented on SCCO. JPMorgan Chase & Co. raised shares of Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a research note on Monday, December 2nd. UBS Group upgraded Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Thursday, March 13th. Scotiabank upped their target price on Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a report on Monday, March 10th. Finally, Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $94.42.

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.