Southern Copper Co. (NYSE:SCCO) Position Reduced by Hantz Financial Services Inc.

Hantz Financial Services Inc. reduced its position in shares of Southern Copper Co. (NYSE:SCCO) by 74.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 572 shares of the basic materials company’s stock after selling 1,653 shares during the quarter. Hantz Financial Services Inc.’s holdings in Southern Copper were worth $52,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its holdings in Southern Copper by 222.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,871 shares of the basic materials company’s stock worth $202,000 after acquiring an additional 1,291 shares during the period. Truist Financial Corp grew its stake in shares of Southern Copper by 83.4% in the 2nd quarter. Truist Financial Corp now owns 35,185 shares of the basic materials company’s stock worth $3,791,000 after purchasing an additional 15,995 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Southern Copper during the second quarter valued at approximately $611,000. Massmutual Trust Co. FSB ADV lifted its stake in Southern Copper by 30.8% during the third quarter. Massmutual Trust Co. FSB ADV now owns 683 shares of the basic materials company’s stock valued at $79,000 after purchasing an additional 161 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in Southern Copper by 2.0% during the third quarter. Handelsbanken Fonder AB now owns 101,563 shares of the basic materials company’s stock worth $11,748,000 after buying an additional 1,950 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SCCO shares. 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 research report on Monday, December 2nd. Scotiabank dropped their price target on 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. Finally, Morgan Stanley raised shares of Southern Copper from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $106.30 to $102.00 in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Southern Copper currently has an average rating of “Hold” and a consensus price target of $94.81.

Southern Copper Price Performance

Shares of SCCO opened at $91.69 on Friday. The business’s 50-day moving average is $96.39 and its 200-day moving average is $102.83. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.77 and a quick ratio of 2.31. The company has a market capitalization of $72.02 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 1.79 and a beta of 1.14. Southern Copper Co. has a fifty-two week low of $77.42 and a fifty-two week high of $129.79.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Monday, February 10th. This is an increase from Southern Copper’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.05%. Southern Copper’s dividend payout ratio is 72.09%.

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.