Balboa Wealth Partners Has $260,000 Stock Holdings in Southern Copper Co. (NYSE:SCCO)

Balboa Wealth Partners cut its stake in shares of Southern Copper Co. (NYSE:SCCO) by 75.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,017 shares of the basic materials company’s stock after selling 9,488 shares during the period. Balboa Wealth Partners’ holdings in Southern Copper were worth $260,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its position in shares of Southern Copper by 7.0% in the third quarter. AQR Capital Management LLC now owns 80,682 shares of the basic materials company’s stock valued at $6,075,000 after buying an additional 5,296 shares during the last quarter. Tyche Wealth Partners LLC acquired a new stake in shares of Southern Copper in the fourth quarter valued at approximately $1,668,000. Janney Montgomery Scott LLC lifted its position in shares of Southern Copper by 378.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 166,398 shares of the basic materials company’s stock valued at $14,322,000 after buying an additional 131,651 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Southern Copper by 119.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 41,223 shares of the basic materials company’s stock valued at $3,548,000 after buying an additional 22,471 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Southern Copper by 8,523.8% in the fourth quarter. International Assets Investment Management LLC now owns 172,907 shares of the basic materials company’s stock valued at $14,882,000 after buying an additional 170,902 shares during the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on SCCO shares. HSBC cut Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective for the company. in a research report on Monday, April 22nd. JPMorgan Chase & Co. lowered their target price on Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a research note on Thursday, March 21st. StockNews.com upgraded Southern Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. CICC Research assumed coverage on Southern Copper in a research note on Wednesday, April 24th. They set an “outperform” rating on the stock. Finally, Morgan Stanley increased their target price on Southern Copper from $123.00 to $135.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 30th. Five research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $90.33.

Insider Activity at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 300 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $118.50, for a total transaction of $35,550.00. Following the sale, the director now owns 4,614 shares of the company’s stock, valued at approximately $546,759. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 600 shares of company stock valued at $63,430 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

Southern Copper Price Performance

Southern Copper stock traded up $0.88 during mid-day trading on Thursday, reaching $117.54. 577,732 shares of the company were exchanged, compared to its average volume of 1,194,540. The company has a fifty day simple moving average of $112.78 and a 200-day simple moving average of $91.60. Southern Copper Co. has a 12 month low of $64.66 and a 12 month high of $129.79. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.31 and a quick ratio of 2.56. The firm has a market cap of $91.82 billion, a PE ratio of 38.80, a PEG ratio of 1.48 and a beta of 1.27.

Southern Copper (NYSE:SCCO) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.17. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. Southern Copper had a return on equity of 30.44% and a net margin of 24.20%. As a group, equities research analysts expect that Southern Copper Co. will post 3.97 earnings per share for the current fiscal year.

Southern Copper Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Tuesday, May 7th. Southern Copper’s dividend payout ratio (DPR) is 1.33%.

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.