Confluence Investment Management LLC Sells 1,842 Shares of Southern Copper Co. (NYSE:SCCO)

Confluence Investment Management LLC lessened its stake in shares of Southern Copper Co. (NYSE:SCCO) by 24.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,778 shares of the basic materials company’s stock after selling 1,842 shares during the quarter. Confluence Investment Management LLC’s holdings in Southern Copper were worth $527,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV raised 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. Itau Unibanco Holding S.A. bought a new position in Southern Copper during the 2nd quarter valued at approximately $31,000. McClarren Financial Advisors Inc. raised its stake in Southern Copper by 169.2% during the third quarter. McClarren Financial Advisors Inc. now owns 288 shares of the basic materials company’s stock valued at $33,000 after buying an additional 181 shares during the last quarter. Oakworth Capital Inc. bought a new stake in Southern Copper in the third quarter worth $42,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Southern Copper in the third quarter worth $47,000. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

SCCO stock opened at $92.16 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. Southern Copper Co. has a 1 year low of $77.14 and a 1 year high of $129.79. The company has a market cap of $72.40 billion, a P/E ratio of 23.73, a price-to-earnings-growth ratio of 1.56 and a beta of 1.14. The stock’s fifty day moving average price is $101.48 and its 200-day moving average price is $105.24.

Southern Copper Announces Dividend

The firm also recently declared a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Wednesday, November 6th were given a dividend of $0.62 per share. This represents a dividend yield of 2.1%. The ex-dividend date was Wednesday, November 6th. Southern Copper’s payout ratio is currently 72.16%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SCCO shares. Scotiabank dropped their price target on shares of Southern Copper from $54.00 to $52.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, October 15th. Morgan Stanley upgraded shares of Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $106.30 to $102.00 in a report on Thursday, December 12th. Citigroup boosted their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the stock a “sell” rating in a report on Wednesday, October 2nd. Finally, 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 research note on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $94.81.

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.