Focus Financial Network Inc. Lowers Position in Southern Copper Co. (NYSE:SCCO)

Focus Financial Network Inc. trimmed its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 10.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,829 shares of the basic materials company’s stock after selling 207 shares during the period. Focus Financial Network Inc.’s holdings in Southern Copper were worth $212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Fidelis Capital Partners LLC bought a new position in shares of Southern Copper during the first quarter valued at approximately $26,000. McClarren Financial Advisors Inc. boosted its position in Southern Copper by 169.2% during the 3rd 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 in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Southern Copper in the 2nd quarter valued at $31,000. Oakworth Capital Inc. bought a new position in shares of Southern Copper in the 3rd quarter worth $42,000. Finally, Hanseatic Management Services Inc. purchased a new stake in shares of Southern Copper during the 2nd quarter worth $53,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of SCCO opened at $110.10 on Monday. The business’s 50-day moving average is $108.45 and its two-hundred day moving average is $110.01. The company has a market capitalization of $86.01 billion, a P/E ratio of 28.35, a P/E/G ratio of 1.12 and a beta of 1.18. Southern Copper Co. has a fifty-two week low of $68.93 and a fifty-two week high of $129.79. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.27 and a current ratio of 2.81.

Southern Copper Dividend Announcement

The business also recently declared a — dividend, which will be paid on Thursday, November 21st. Investors of record on Wednesday, November 6th will be given a dividend of $0.62 per share. This represents a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 6th. Southern Copper’s dividend payout ratio is currently 61.79%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SCCO shares. Citigroup lifted their target price on Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a research note on Wednesday, October 2nd. Scotiabank reduced their price objective on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating for the company in a research note on Tuesday, October 15th. UBS Group initiated coverage on shares of Southern Copper in a research note on Friday, July 12th. They issued a “neutral” rating and a $120.00 target price for the company. Finally, Morgan Stanley upped their price target on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Six investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $90.63.

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.