B. Riley Wealth Advisors Inc. Cuts Position in Southern Copper Co. (NYSE:SCCO)

B. Riley Wealth Advisors Inc. reduced its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 27.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,260 shares of the basic materials company’s stock after selling 1,209 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Southern Copper were worth $351,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Capital World Investors acquired a new position in Southern Copper during the 1st quarter worth approximately $340,373,000. Price T Rowe Associates Inc. MD raised its holdings in Southern Copper by 18.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,771,332 shares of the basic materials company’s stock valued at $827,804,000 after acquiring an additional 1,192,111 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Southern Copper by 54.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,541,396 shares of the basic materials company’s stock worth $164,190,000 after purchasing an additional 544,312 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in Southern Copper by 1,300.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 443,285 shares of the basic materials company’s stock valued at $47,760,000 after purchasing an additional 411,630 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in Southern Copper during the 1st quarter valued at about $27,163,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Down 0.3 %

Shares of Southern Copper stock opened at $117.58 on Tuesday. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 0.67. The stock has a market cap of $91.85 billion, a PE ratio of 39.08, a price-to-earnings-growth ratio of 1.20 and a beta of 1.18. The business has a fifty day simple moving average of $103.66 and a 200 day simple moving average of $109.44. Southern Copper Co. has a 12 month low of $68.93 and a 12 month high of $129.79.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.09. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $2.96 billion. Research analysts predict that Southern Copper Co. will post 4.32 EPS for the current year.

Southern Copper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.40 annualized dividend and a dividend yield of 2.04%. Southern Copper’s dividend payout ratio is currently 79.77%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SCCO shares. Citigroup increased their target price on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research report on Wednesday, October 2nd. Morgan Stanley boosted their target price on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Finally, UBS Group began coverage on shares of Southern Copper in a research note on Friday, July 12th. They issued a “neutral” rating and a $120.00 price objective for the company. Six equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Southern Copper currently has a consensus rating of “Hold” and a consensus price target of $90.88.

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.