Balboa Wealth Partners Purchases 228 Shares of Southern Copper Co. (NYSE:SCCO)

Balboa Wealth Partners increased its position in shares of Southern Copper Co. (NYSE:SCCO) by 9.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,558 shares of the basic materials company’s stock after buying an additional 228 shares during the quarter. Balboa Wealth Partners’ holdings in Southern Copper were worth $233,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Deseret Mutual Benefit Administrators boosted its position in Southern Copper by 210.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 257 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Southern Copper by 578.3% in the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 347 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Southern Copper during the third quarter worth $47,000. Planning Capital Management Corp bought a new position in Southern Copper in the third quarter valued at $52,000. Finally, IFP Advisors Inc grew its position in Southern Copper by 143.4% in the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 281 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Price Performance

NYSE:SCCO opened at $92.45 on Friday. Southern Copper Co. has a 12-month low of $84.33 and a 12-month high of $129.79. The firm has a market capitalization of $72.62 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 1.90 and a beta of 1.12. The stock’s 50 day moving average price is $93.71 and its two-hundred day moving average price is $100.74. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64.

Southern Copper (NYSE:SCCO) last posted its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). Southern Copper had a return on equity of 40.27% and a net margin of 29.53%. On average, analysts anticipate that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th were given a $0.70 dividend. The ex-dividend date was Tuesday, February 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a dividend yield of 3.03%. Southern Copper’s dividend payout ratio is presently 64.81%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $106.30 to $102.00 in a research report on Thursday, December 12th. UBS Group upgraded Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Thursday. Scotiabank raised their price target on Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research note on Monday. Finally, JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price target on the stock in a research report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Southern Copper has a consensus rating of “Hold” and a consensus target price of $97.31.

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.