Geneos Wealth Management Inc. Acquires Shares of 3,377 Southern Copper Co. (NYSE:SCCO)

Geneos Wealth Management Inc. acquired a new position in Southern Copper Co. (NYSE:SCCO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,377 shares of the basic materials company's stock, valued at approximately $308,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Inspire Investing LLC lifted its position in Southern Copper by 12.7% during the fourth quarter. Inspire Investing LLC now owns 3,100 shares of the basic materials company's stock valued at $282,000 after purchasing an additional 350 shares during the period. Beacon Investment Advisory Services Inc. lifted its holdings in Southern Copper by 0.4% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 49,600 shares of the basic materials company's stock valued at $4,520,000 after acquiring an additional 196 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Southern Copper by 2.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 176,918 shares of the basic materials company's stock valued at $16,123,000 after purchasing an additional 3,499 shares during the last quarter. SG Americas Securities LLC raised its holdings in Southern Copper by 1,322.7% in the 4th quarter. SG Americas Securities LLC now owns 99,606 shares of the basic materials company's stock worth $9,077,000 after purchasing an additional 92,605 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Southern Copper by 0.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 24,426 shares of the basic materials company's stock worth $2,226,000 after purchasing an additional 144 shares during the last quarter. 7.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup raised their price objective on shares of Southern Copper from $99.44 to $100.00 and gave the stock a "sell" rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. raised Southern Copper from an "underweight" rating to a "neutral" rating and set a $92.50 price target for the company in a research note on Monday, December 2nd. Morgan Stanley raised Southern Copper from an "underweight" rating to an "equal weight" rating and cut their price objective for the company from $106.30 to $102.00 in a research report on Thursday, December 12th. Finally, Scotiabank lowered their target price on shares of Southern Copper from $54.00 to $52.00 and set a "sector underperform" rating for the company in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $94.81.

Southern Copper Price Performance

NYSE SCCO traded up $1.06 during trading hours on Thursday, reaching $92.43. The company's stock had a trading volume of 292,174 shares, compared to its average volume of 1,026,331. Southern Copper Co. has a fifty-two week low of $77.42 and a fifty-two week high of $129.79. The stock has a market cap of $72.61 billion, a PE ratio of 23.84, a PEG ratio of 1.92 and a beta of 1.14. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.77. The company's 50-day moving average is $96.72 and its two-hundred day moving average is $103.04.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Tuesday, February 11th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, February 10th. This is a boost from Southern Copper's previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a dividend yield of 3.03%. Southern Copper's payout ratio is currently 72.16%.

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.