Jaffetilchin Investment Partners LLC Acquires New Position in Southern Copper Co. (NYSE:SCCO)

Jaffetilchin Investment Partners LLC acquired a new position in shares of Southern Copper Co. (NYSE:SCCO) during the 1st quarter, Holdings Channel.com reports. The firm acquired 3,652 shares of the basic materials company’s stock, valued at approximately $389,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Fortis Group Advisors LLC lifted its stake in Southern Copper by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 151 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Southern Copper during the first quarter worth $26,000. Riverview Trust Co bought a new position in shares of Southern Copper in the first quarter worth $27,000. Venturi Wealth Management LLC raised its holdings in shares of Southern Copper by 164.8% during the 4th quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock worth $41,000 after buying an additional 300 shares in the last quarter. Finally, ICA Group Wealth Management LLC bought a new stake in shares of Southern Copper during the fourth quarter worth $61,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on SCCO shares. HSBC downgraded Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 target price on the stock. in a report on Monday, April 22nd. UBS Group initiated coverage on Southern Copper in a research note on Friday, July 12th. They set a “neutral” rating and a $120.00 price target on the stock. Morgan Stanley increased their price objective on Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, June 21st. StockNews.com raised Southern Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Finally, CICC Research began coverage on shares of Southern Copper in a research report on Wednesday, April 24th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $89.57.

Southern Copper Stock Performance

Shares of SCCO traded down $4.39 on Thursday, reaching $102.22. The company’s stock had a trading volume of 1,426,485 shares, compared to its average volume of 1,199,942. Southern Copper Co. has a 12-month low of $68.93 and a 12-month high of $129.79. The stock’s 50 day simple moving average is $110.73 and its two-hundred day simple moving average is $102.89. The stock has a market capitalization of $79.85 billion, a P/E ratio of 34.44, a PEG ratio of 1.03 and a beta of 1.19. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.31 and a quick ratio of 2.56.

Southern Copper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Friday, August 9th. Southern Copper’s dividend payout ratio is presently 92.07%.

Southern Copper Company 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.