B. Riley Wealth Advisors Inc. Decreases Stock Holdings in Southern Copper Co. (NYSE:SCCO)

B. Riley Wealth Advisors Inc. lessened its stake in shares of Southern Copper Co. (NYSE:SCCO) by 28.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,331 shares of the basic materials company’s stock after selling 929 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Southern Copper were worth $269,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. increased its position in Southern Copper by 7.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 230,495 shares of the basic materials company’s stock valued at $26,661,000 after acquiring an additional 15,386 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of Southern Copper by 384.4% during the 3rd quarter. Two Sigma Advisers LP now owns 90,173 shares of the basic materials company’s stock valued at $10,430,000 after purchasing an additional 71,558 shares during the period. Morse Asset Management Inc purchased a new stake in shares of Southern Copper during the 3rd quarter valued at about $1,397,000. Gateway Advisory LLC bought a new position in shares of Southern Copper in the 2nd quarter worth approximately $625,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Southern Copper by 1,601.3% in the third quarter. BNP Paribas Financial Markets now owns 192,571 shares of the basic materials company’s stock worth $22,275,000 after buying an additional 181,252 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Performance

NYSE:SCCO opened at $93.01 on Friday. The stock has a 50-day moving average price of $105.20 and a 200 day moving average price of $106.23. 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 Co. has a 12-month low of $77.14 and a 12-month high of $129.79. The stock has a market capitalization of $73.06 billion, a P/E ratio of 23.95, a P/E/G ratio of 1.56 and a beta of 1.14.

Southern Copper Announces Dividend

The business also recently disclosed a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th were given a dividend of $0.62 per share. This represents a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, November 6th. Southern Copper’s payout ratio is currently 72.16%.

Analysts Set New Price Targets

SCCO has been the topic of several recent research reports. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. Scotiabank lowered their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, October 15th. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target for the company in a report on Monday, December 2nd. Finally, Citigroup raised their price objective on Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $94.81.

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.