Tyche Wealth Partners LLC Acquires New Holdings in Southern Copper Co. (NYSE:SCCO)

Tyche Wealth Partners LLC acquired a new stake in Southern Copper Co. (NYSE:SCCO) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 19,375 shares of the basic materials company’s stock, valued at approximately $1,668,000.

Other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC increased its position in Southern Copper by 7.0% in the 3rd quarter. AQR Capital Management LLC now owns 80,682 shares of the basic materials company’s stock worth $6,075,000 after buying an additional 5,296 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in Southern Copper by 119.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 41,223 shares of the basic materials company’s stock worth $3,548,000 after buying an additional 22,471 shares during the period. Ameriprise Financial Inc. increased its position in Southern Copper by 17.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 687,501 shares of the basic materials company’s stock worth $51,854,000 after buying an additional 102,286 shares during the period. Viking Fund Management LLC bought a new position in Southern Copper in the 4th quarter worth approximately $31,000. Finally, LPL Financial LLC increased its position in Southern Copper by 22.1% in the 3rd quarter. LPL Financial LLC now owns 89,468 shares of the basic materials company’s stock worth $6,736,000 after buying an additional 16,168 shares during the period. 7.94% of the stock is owned by institutional investors.

Southern Copper Trading Down 0.2 %

Shares of SCCO stock traded down $0.24 on Tuesday, reaching $113.84. 1,779,949 shares of the stock were exchanged, compared to its average volume of 1,110,152. The stock has a market cap of $88.01 billion, a PE ratio of 36.12, a P/E/G ratio of 3.35 and a beta of 1.29. Southern Copper Co. has a one year low of $64.66 and a one year high of $120.37. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.19 and a quick ratio of 2.46. The stock has a 50 day moving average price of $94.10 and a 200 day moving average price of $83.23.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.37 billion. Equities research analysts forecast that Southern Copper Co. will post 3.89 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 13th were paid a $0.80 dividend. The ex-dividend date was Monday, February 12th. This represents a $3.20 dividend on an annualized basis and a yield of 2.81%. Southern Copper’s payout ratio is 101.91%.

Analysts Set New Price Targets

Several research analysts have commented on the company. JPMorgan Chase & Co. dropped their price target on Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a research report on Thursday, March 21st. Jefferies Financial Group raised Southern Copper from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $91.00 to $130.00 in a report on Friday, March 22nd. StockNews.com lowered Southern Copper from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Finally, The Goldman Sachs Group lifted their price objective on Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a report on Friday, March 22nd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $76.83.

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.