Larson Financial Group LLC Buys 114 Shares of Southern Copper Co. (NYSE:SCCO)

Larson Financial Group LLC grew its stake in Southern Copper Co. (NYSE:SCCO) by 28.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 521 shares of the basic materials company’s stock after acquiring an additional 114 shares during the quarter. Larson Financial Group LLC’s holdings in Southern Copper were worth $48,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Deseret Mutual Benefit Administrators grew its position in Southern Copper by 210.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 257 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Southern Copper by 143.4% in the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock worth $43,000 after buying an additional 281 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Southern Copper during the third quarter valued at approximately $47,000. Spire Wealth Management bought a new stake in shares of Southern Copper during the fourth quarter valued at approximately $47,000. Finally, Stonebridge Financial Group LLC purchased a new position in Southern Copper in the 4th quarter worth approximately $51,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Trading Up 1.6 %

Southern Copper stock opened at $90.30 on Thursday. Southern Copper Co. has a 52-week low of $84.33 and a 52-week high of $129.79. The company has a market cap of $70.93 billion, a P/E ratio of 20.90, a P/E/G ratio of 1.90 and a beta of 1.12. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.64. The business has a 50-day simple moving average of $93.71 and a two-hundred day simple moving average of $100.79.

Southern Copper (NYSE:SCCO) last announced its earnings results on Wednesday, February 12th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.01). Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. Analysts predict that Southern Copper Co. will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were issued a $0.70 dividend. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Tuesday, February 11th. Southern Copper’s dividend payout ratio (DPR) is currently 64.81%.

Wall Street Analyst Weigh In

A number of research firms have commented on SCCO. Morgan Stanley raised Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. upgraded Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective for the company in a report on Monday, December 2nd. Finally, Scotiabank upped their target price on shares of Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a research note on Monday. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Southern Copper has an average rating of “Hold” and a consensus target price of $97.31.

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.