Moran Wealth Management LLC Has $699,000 Position in Southern Copper Co. (NYSE:SCCO)

Moran Wealth Management LLC lessened its holdings in Southern Copper Co. (NYSE:SCCO) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,041 shares of the basic materials company’s stock after selling 314 shares during the quarter. Moran Wealth Management LLC’s holdings in Southern Copper were worth $699,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCCO. Cetera Investment Advisers boosted its holdings in Southern Copper by 395.1% during the first quarter. Cetera Investment Advisers now owns 38,803 shares of the basic materials company’s stock valued at $4,133,000 after purchasing an additional 30,966 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Southern Copper by 18.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock worth $827,804,000 after buying an additional 1,192,111 shares during the period. Gateway Advisory LLC acquired a new stake in Southern Copper in the 2nd quarter valued at $625,000. Lazard Asset Management LLC grew its position in Southern Copper by 421.6% in the first quarter. Lazard Asset Management LLC now owns 155,265 shares of the basic materials company’s stock valued at $16,538,000 after acquiring an additional 125,496 shares during the period. Finally, Capital World Investors acquired a new position in Southern Copper during the first quarter worth $340,373,000. 7.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SCCO. Scotiabank lowered their target price 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. Citigroup upped their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley lifted their target price on shares of Southern Copper from $97.00 to $100.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Six equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $90.63.

Southern Copper Trading Down 2.2 %

Shares of NYSE SCCO opened at $100.70 on Friday. Southern Copper Co. has a 1-year low of $70.63 and a 1-year high of $129.79. The company has a 50-day moving average of $110.22 and a two-hundred day moving average of $109.21. The company has a market cap of $79.11 billion, a PE ratio of 25.93, a P/E/G ratio of 1.07 and a beta of 1.18. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64.

Southern Copper Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.62 per share. This represents a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, November 6th. Southern Copper’s dividend payout ratio is 72.09%.

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.