Cumberland Partners Ltd Invests $1.95 Million in Southern Copper Co. (NYSE:SCCO)

Cumberland Partners Ltd acquired a new position in shares of Southern Copper Co. (NYSE:SCCO) during the 4th quarter, Holdings Channel.com reports. The firm acquired 22,625 shares of the basic materials company’s stock, valued at approximately $1,947,000.

Several other institutional investors also recently bought and sold shares of SCCO. National Bank of Canada FI boosted its position in shares of Southern Copper by 298.2% in the 3rd quarter. National Bank of Canada FI now owns 33,032 shares of the basic materials company’s stock worth $2,443,000 after purchasing an additional 24,736 shares in the last quarter. AE Wealth Management LLC acquired a new stake in shares of Southern Copper in the 3rd quarter worth $215,000. Ronald Blue Trust Inc. boosted its position in shares of Southern Copper by 43.7% in the 3rd quarter. Ronald Blue Trust Inc. now owns 602 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 183 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Southern Copper by 117.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 7,442 shares of the basic materials company’s stock worth $560,000 after purchasing an additional 4,020 shares in the last quarter. Finally, Redwood Wealth Management Group LLC boosted its position in shares of Southern Copper by 3.9% in the 3rd quarter. Redwood Wealth Management Group LLC now owns 5,887 shares of the basic materials company’s stock worth $443,000 after purchasing an additional 222 shares in the last quarter. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SCCO has been the subject of a number of research reports. Scotiabank lifted their price target on Southern Copper from $53.00 to $55.00 and gave the stock a “sector underperform” rating in a research report on Thursday, April 18th. HSBC cut Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price target for the company. in a research report on Monday. The Goldman Sachs Group lifted their price target on Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. lowered their price target on Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a research report on Thursday, March 21st. Finally, StockNews.com cut Southern Copper from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Southern Copper presently has a consensus rating of “Reduce” and an average price target of $76.00.

Southern Copper Price Performance

NYSE:SCCO traded down $1.92 during trading hours on Tuesday, hitting $109.66. 1,844,384 shares of the stock were exchanged, compared to its average volume of 1,126,235. Southern Copper Co. has a 52-week low of $64.66 and a 52-week high of $120.37. The firm’s fifty day moving average price is $97.98 and its 200 day moving average price is $84.90. The company has a current ratio of 3.19, a quick ratio of 2.46 and a debt-to-equity ratio of 0.84. The company has a market cap of $84.78 billion, a P/E ratio of 34.92, a P/E/G ratio of 3.25 and a beta of 1.29.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.15). Southern Copper had a return on equity of 30.85% and a net margin of 24.51%. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.37 billion. As a group, equities research analysts anticipate that Southern Copper Co. will post 3.95 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 13th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.20 annualized dividend and a yield of 2.92%. Southern Copper’s dividend payout ratio (DPR) is currently 101.91%.

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.