Tyche Wealth Partners LLC Grows Stake in Southern Copper Co. (NYSE:SCCO)

Tyche Wealth Partners LLC boosted its position in Southern Copper Co. (NYSE:SCCO) by 0.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,807 shares of the basic materials company’s stock after purchasing an additional 122 shares during the period. Tyche Wealth Partners LLC’s holdings in Southern Copper were worth $1,805,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV grew its holdings in Southern Copper by 172.0% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 223 shares of the basic materials company’s stock valued at $26,000 after buying an additional 141 shares during the last quarter. McClarren Financial Advisors Inc. boosted its holdings in Southern Copper by 169.2% in the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 181 shares during the last quarter. Oakworth Capital Inc. acquired a new position in Southern Copper in the third quarter valued at $42,000. Larson Financial Group LLC boosted its holdings in Southern Copper by 578.3% in the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 347 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in Southern Copper in the third quarter valued at $47,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price on the stock in a report on Monday, December 2nd. Scotiabank reduced their target price on Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a report on Tuesday, October 15th. Finally, Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $94.81.

Southern Copper Stock Up 0.2 %

Shares of NYSE SCCO opened at $93.43 on Thursday. Southern Copper Co. has a 1 year low of $77.42 and a 1 year high of $129.79. The firm has a market cap of $73.39 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 1.79 and a beta of 1.13. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The stock’s 50-day simple moving average is $96.04 and its 200-day simple moving average is $102.54.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.00%. This is a positive change from Southern Copper’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, February 10th. Southern Copper’s payout ratio is presently 72.09%.

Southern Copper Company 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.