Sequoia Financial Advisors LLC Has $261,000 Holdings in Southern Copper Co. (NYSE:SCCO)

Sequoia Financial Advisors LLC lessened its position in shares of Southern Copper Co. (NYSE:SCCO) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,032 shares of the basic materials company’s stock after selling 484 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Southern Copper were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Hartford Financial Management Inc. bought a new position in shares of Southern Copper during the 3rd quarter worth approximately $25,000. Sanctuary Wealth Management L.L.C. bought a new position in shares of Southern Copper during the 4th quarter worth approximately $27,000. Loomis Sayles & Co. L P bought a new position in shares of Southern Copper during the 1st quarter worth approximately $29,000. Viking Fund Management LLC bought a new position in shares of Southern Copper during the 4th quarter worth approximately $31,000. Finally, Venturi Wealth Management LLC lifted its position in shares of Southern Copper by 164.8% during the 4th quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock worth $41,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Trading Down 1.7 %

SCCO stock opened at $113.42 on Friday. The company has a market cap of $87.68 billion, a P/E ratio of 36.12, a PEG ratio of 3.32 and a beta of 1.29. Southern Copper Co. has a twelve month low of $64.66 and a twelve month high of $120.37. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84. The business has a fifty day moving average of $96.72 and a 200-day moving average of $84.21.

Southern Copper (NYSE:SCCO) last released 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). The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.37 billion. Southern Copper had a return on equity of 30.85% and a net margin of 24.51%. As a group, equities research analysts expect that Southern Copper Co. will post 3.89 EPS for the current year.

Southern Copper Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 13th were paid a dividend of $0.80 per share. The ex-dividend date was Monday, February 12th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.82%. Southern Copper’s dividend payout ratio (DPR) is presently 101.91%.

Analyst Ratings Changes

Several research firms recently commented on SCCO. Scotiabank raised their target price on Southern Copper from $53.00 to $55.00 and gave the stock a “sector underperform” rating in a research report on Thursday. The Goldman Sachs Group lifted their price objective on Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a research report on Friday, March 22nd. Jefferies Financial Group upgraded Southern Copper from a “hold” rating to a “buy” rating and lifted their price objective for the company from $91.00 to $130.00 in a research report on Friday, March 22nd. JPMorgan Chase & Co. cut their price objective on Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a research report on Thursday, March 21st. Finally, StockNews.com downgraded Southern Copper from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Southern Copper presently has a consensus rating of “Hold” and an average target price of $73.71.

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.