Southern Copper Co. (NYSE:SCCO) Shares Sold by NewSquare Capital LLC

NewSquare Capital LLC trimmed its stake in shares of Southern Copper Co. (NYSE:SCCO) by 9.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,275 shares of the basic materials company’s stock after selling 5,824 shares during the quarter. NewSquare Capital LLC’s holdings in Southern Copper were worth $4,682,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. acquired a new stake in Southern Copper during the 3rd quarter worth approximately $25,000. Viking Fund Management LLC acquired a new stake in shares of Southern Copper in the 4th quarter valued at approximately $31,000. Venturi Wealth Management LLC lifted its holdings in shares of Southern Copper by 164.8% in the 4th quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock valued at $41,000 after buying an additional 300 shares during the period. Washington Trust Advisors Inc. acquired a new stake in shares of Southern Copper in the 4th quarter valued at approximately $45,000. Finally, Ronald Blue Trust Inc. lifted its holdings in shares of Southern Copper by 43.7% in the 3rd quarter. Ronald Blue Trust Inc. now owns 602 shares of the basic materials company’s stock valued at $44,000 after buying an additional 183 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on SCCO shares. HSBC cut Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price target for the company. in a report on Monday. Jefferies Financial Group raised Southern Copper from a “hold” rating to a “buy” rating and raised their price objective for the company from $91.00 to $130.00 in a research note on Friday, March 22nd. The Goldman Sachs Group raised their price objective on Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. dropped their price objective on Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a research note on Thursday, March 21st. Finally, StockNews.com downgraded Southern Copper from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $76.00.

Southern Copper Trading Down 1.7 %

Shares of NYSE:SCCO traded down $1.92 during midday trading on Tuesday, reaching $109.66. The company’s stock had a trading volume of 1,844,384 shares, compared to its average volume of 1,126,235. The firm has a market cap of $84.78 billion, a price-to-earnings ratio of 34.71, a price-to-earnings-growth ratio of 3.25 and a beta of 1.29. The company has a quick ratio of 2.46, a current ratio of 3.19 and a debt-to-equity ratio of 0.84. Southern Copper Co. has a 1 year low of $64.66 and a 1 year high of $120.37. The business has a 50 day moving average price of $97.35 and a 200 day moving average price of $84.65.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). Southern Copper had a net margin of 24.51% and a return on equity of 30.85%. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Research analysts forecast that Southern Copper Co. will post 3.95 EPS for the current year.

Southern Copper Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 13th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date was Monday, February 12th. Southern Copper’s payout ratio is currently 101.91%.

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.