NewSquare Capital LLC Has $9.79 Million Holdings in Southern Copper Corporation $SCCO

NewSquare Capital LLC lifted its position in shares of Southern Copper Corporation (NYSE:SCCO) by 70.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 97,621 shares of the basic materials company’s stock after purchasing an additional 40,321 shares during the quarter. NewSquare Capital LLC’s holdings in Southern Copper were worth $9,788,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Southern Copper by 26.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,551,878 shares of the basic materials company’s stock worth $145,039,000 after purchasing an additional 322,935 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Southern Copper by 3.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,398,651 shares of the basic materials company’s stock valued at $130,718,000 after buying an additional 44,014 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in Southern Copper by 2.9% in the 1st quarter. Driehaus Capital Management LLC now owns 1,059,080 shares of the basic materials company’s stock valued at $98,982,000 after buying an additional 30,232 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Southern Copper by 5.3% in the 1st quarter. Ameriprise Financial Inc. now owns 915,147 shares of the basic materials company’s stock valued at $85,595,000 after buying an additional 45,691 shares in the last quarter. Finally, Empower Advisory Group LLC boosted its stake in Southern Copper by 17.0% in the 1st quarter. Empower Advisory Group LLC now owns 904,224 shares of the basic materials company’s stock valued at $84,509,000 after buying an additional 131,156 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

SCCO has been the topic of several recent analyst reports. Citigroup reaffirmed a “sell” rating and issued a $108.00 price target (up previously from $89.10) on shares of Southern Copper in a research note on Wednesday, October 8th. Wells Fargo & Company boosted their price target on Southern Copper from $121.00 to $137.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. HSBC reaffirmed a “hold” rating and issued a $118.00 price target (up previously from $105.00) on shares of Southern Copper in a research note on Friday, October 17th. UBS Group reaffirmed a “buy” rating on shares of Southern Copper in a research note on Friday, September 19th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $115.00 price target (up previously from $89.00) on shares of Southern Copper in a research note on Wednesday, October 29th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Southern Copper has an average rating of “Reduce” and a consensus price target of $117.94.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $139.35, for a total transaction of $27,870.00. Following the completion of the sale, the director owned 1,713 shares in the company, valued at $238,706.55. The trade was a 10.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 1,428 shares of company stock worth $150,972 in the last ninety days. Insiders own 0.07% of the company’s stock.

Southern Copper Price Performance

Southern Copper stock opened at $138.51 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.51 and a current ratio of 5.27. The firm has a market cap of $111.37 billion, a P/E ratio of 29.04, a P/E/G ratio of 1.29 and a beta of 1.02. The business’s fifty day moving average is $118.45 and its two-hundred day moving average is $103.49. Southern Copper Corporation has a 52 week low of $74.84 and a 52 week high of $144.81.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Tuesday, October 28th. The basic materials company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. The company had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.05 billion. Southern Copper had a return on equity of 39.62% and a net margin of 30.98%. Equities research analysts forecast that Southern Copper Corporation will post 4.66 earnings per share for the current fiscal year.

Southern Copper Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Wednesday, November 12th will be given a dividend of $0.90 per share. The ex-dividend date is Wednesday, November 12th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.6%. Southern Copper’s payout ratio is presently 75.47%.

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.