Avantax Advisory Services Inc. Has $770,000 Position in Southern Copper Co. (NYSE:SCCO)

Avantax Advisory Services Inc. trimmed its position in Southern Copper Co. (NYSE:SCCO) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,451 shares of the basic materials company’s stock after selling 316 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Southern Copper were worth $770,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M&T Bank Corp grew its holdings in Southern Copper by 0.5% in the 3rd quarter. M&T Bank Corp now owns 20,460 shares of the basic materials company’s stock valued at $2,367,000 after buying an additional 105 shares in the last quarter. Larson Financial Group LLC grew its holdings in Southern Copper by 28.0% in the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock valued at $48,000 after buying an additional 114 shares in the last quarter. Tyche Wealth Partners LLC grew its holdings in Southern Copper by 0.6% in the 4th quarter. Tyche Wealth Partners LLC now owns 19,807 shares of the basic materials company’s stock valued at $1,805,000 after buying an additional 122 shares in the last quarter. Yousif Capital Management LLC grew its holdings in Southern Copper by 0.9% in the 4th quarter. Yousif Capital Management LLC now owns 14,390 shares of the basic materials company’s stock valued at $1,311,000 after buying an additional 122 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its holdings in Southern Copper by 3.6% in the 4th quarter. 180 Wealth Advisors LLC now owns 4,062 shares of the basic materials company’s stock valued at $370,000 after buying an additional 140 shares in the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Price Performance

Shares of SCCO stock opened at $99.28 on Friday. 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 Co. has a twelve month low of $84.33 and a twelve month high of $127.34. The company has a market cap of $79.05 billion, a P/E ratio of 22.98, a P/E/G ratio of 1.90 and a beta of 1.12. The business has a fifty day simple moving average of $94.14 and a 200 day simple moving average of $100.57.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts forecast that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Tuesday, February 11th were given a $0.70 dividend. The ex-dividend date was Tuesday, February 11th. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 2.82%. Southern Copper’s dividend payout ratio (DPR) is currently 64.81%.

Wall Street Analyst Weigh In

SCCO has been the topic of a number of research reports. Scotiabank upped their price objective on Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a report on Monday, March 10th. UBS Group upgraded Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 target price for the company in a research report on Monday, December 2nd. Finally, Morgan Stanley upgraded Southern Copper from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. Four analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.