NewSquare Capital LLC Cuts Stock Holdings in Southern Copper Co. (NYSE:SCCO)

NewSquare Capital LLC trimmed its stake in shares of Southern Copper Co. (NYSE:SCCO) by 9.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,275 shares of the basic materials company’s stock after selling 5,824 shares during the period. NewSquare Capital LLC’s holdings in Southern Copper were worth $4,682,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SCCO. Canada Pension Plan Investment Board boosted its holdings in shares of Southern Copper by 677.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 310,500 shares of the basic materials company’s stock valued at $23,378,000 after acquiring an additional 270,540 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Southern Copper by 8,523.8% during the 4th quarter. International Assets Investment Management LLC now owns 172,907 shares of the basic materials company’s stock worth $14,882,000 after purchasing an additional 170,902 shares during the period. Ameriprise Financial Inc. raised its position in shares of Southern Copper by 17.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 687,501 shares of the basic materials company’s stock valued at $51,854,000 after acquiring an additional 102,286 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Southern Copper by 7.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,151,729 shares of the basic materials company’s stock valued at $86,714,000 after purchasing an additional 80,576 shares during the period. Finally, Schroder Investment Management Group boosted its position in Southern Copper by 17.5% during the 3rd quarter. Schroder Investment Management Group now owns 519,714 shares of the basic materials company’s stock worth $39,129,000 after acquiring an additional 77,518 shares during the period. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Price Performance

SCCO traded down $1.92 during trading on Tuesday, reaching $109.66. The stock had a trading volume of 1,844,384 shares, compared to its average volume of 1,126,235. The stock has a market cap of $84.78 billion, a PE ratio of 34.71, a PEG ratio of 3.25 and a beta of 1.29. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.46 and a current ratio of 3.19. Southern Copper Co. has a one year low of $64.66 and a one year high of $120.37. The business has a 50-day moving average of $97.35 and a 200-day moving average of $84.65.

Southern Copper (NYSE:SCCO) last posted its earnings results on Friday, February 2nd. The basic materials company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 13th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Monday, February 12th. Southern Copper’s dividend payout ratio (DPR) is presently 101.91%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Jefferies Financial Group raised Southern Copper from a “hold” rating to a “buy” rating and boosted their price target for the company from $91.00 to $130.00 in a research note on Friday, March 22nd. HSBC cut Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective for the company. in a research report on Monday. The Goldman Sachs Group raised their target price on Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a report on Friday, March 22nd. StockNews.com downgraded Southern Copper from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Finally, Scotiabank lifted their price objective 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. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $76.00.

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.