Crowley Wealth Management Inc. Makes New $151,000 Investment in Southern Copper Co. (NYSE:SCCO)

Crowley Wealth Management Inc. bought a new stake in Southern Copper Co. (NYSE:SCCO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,659 shares of the basic materials company’s stock, valued at approximately $151,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in Southern Copper in the fourth quarter worth $30,000. Deseret Mutual Benefit Administrators raised its stake in Southern Copper by 210.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 257 shares during the period. IFP Advisors Inc boosted its position in Southern Copper by 143.4% during the fourth quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 281 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of Southern Copper in the third quarter worth about $47,000. Finally, Larson Financial Group LLC raised its position in shares of Southern Copper by 578.3% in the third quarter. Larson Financial Group LLC now owns 407 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 347 shares during the period. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Stock Performance

NYSE:SCCO opened at $100.98 on Friday. Southern Copper Co. has a twelve month low of $84.33 and a twelve month high of $127.34. 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 stock has a market cap of $80.39 billion, a P/E ratio of 23.37, a PEG ratio of 1.90 and a beta of 1.12. The business’s 50-day moving average price is $94.27 and its two-hundred day moving average price is $100.60.

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%. As a group, equities analysts predict that Southern Copper Co. will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Tuesday, February 11th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Tuesday, February 11th. This is a boost from Southern Copper’s previous quarterly dividend of $0.60. Southern Copper’s dividend payout ratio is currently 64.81%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and cut their price objective for the stock from $106.30 to $102.00 in a report on Thursday, December 12th. UBS Group upgraded Southern Copper from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Thursday, March 13th. JPMorgan Chase & Co. raised Southern Copper from an “underweight” rating to a “neutral” rating and set a $92.50 price objective on the stock in a report on Monday, December 2nd. Finally, Scotiabank lifted their target price on Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a report on Monday, March 10th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $94.42.

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.