Ballentine Partners LLC Grows Holdings in Southern Copper Corporation (NYSE:SCCO)

Ballentine Partners LLC raised its position in Southern Copper Corporation (NYSE:SCCO – Free Report) by 16.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,539 shares of the basic materials company’s stock after purchasing an additional 501 shares during the period. Ballentine Partners LLC’s holdings in Southern Copper were worth $331,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SCCO. Golden State Wealth Management LLC purchased a new position in Southern Copper in the 1st quarter valued at about $29,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Southern Copper during the 4th quarter worth about $30,000. Lee Danner & Bass Inc. purchased a new position in shares of Southern Copper during the 4th quarter worth about $60,000. Creative Financial Designs Inc. ADV lifted its holdings in shares of Southern Copper by 199.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 667 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 444 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in shares of Southern Copper during the 4th quarter worth about $84,000. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Stock Down 2.3%

Shares of NYSE:SCCO opened at $97.65 on Wednesday. The company has a quick ratio of 3.22, a current ratio of 3.71 and a debt-to-equity ratio of 0.70. Southern Copper Corporation has a 52-week low of $74.11 and a 52-week high of $118.64. The company has a 50 day moving average of $95.95 and a two-hundred day moving average of $93.55. The company has a market capitalization of $77.74 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02.

Southern Copper (NYSE:SCCO – Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.14. Southern Copper had a net margin of 30.00% and a return on equity of 39.39%. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.05 billion. As a group, analysts forecast that Southern Copper Corporation will post 4.66 earnings per share for the current fiscal year.

Southern Copper Announces Dividend

The business also recently declared a dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 5th were given a dividend of $0.70 per share. This represents a dividend yield of 2.98%. The ex-dividend date of this dividend was Friday, May 2nd. Southern Copper’s payout ratio is currently 61.27%.

Wall Street Analyst Weigh In

SCCO has been the topic of several recent analyst reports. UBS Group lowered shares of Southern Copper from a “buy” rating to a “neutral” rating and set a $105.00 price objective on the stock. in a report on Tuesday, July 1st. Hsbc Global Res upgraded shares of Southern Copper from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 24th. Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. cut their price objective on shares of Southern Copper from $83.50 to $79.00 and set a “neutral” rating on the stock in a report on Thursday, July 3rd. Finally, Morgan Stanley lowered shares of Southern Copper from an “equal weight” rating to an “underweight” rating and raised their price target for the company from $86.00 to $99.00 in a report on Tuesday. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $91.00.

Read Our Latest Analysis on Southern Copper

About Southern Copper

(Free Report)

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.