Diversify Wealth Management LLC bought a new stake in Southern Copper Corporation (NYSE:SCCO – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 16,108 shares of the basic materials company’s stock, valued at approximately $2,713,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in SCCO. SHP Wealth Management acquired a new stake in Southern Copper in the fourth quarter worth about $25,000. Lloyd Advisory Services LLC. bought a new stake in Southern Copper during the 4th quarter worth about $29,000. Virtus Advisers LLC bought a new stake in Southern Copper during the 4th quarter worth about $29,000. Godfrey Financial Associates Inc. acquired a new position in Southern Copper during the 4th quarter valued at about $30,000. Finally, IFP Advisors Inc lifted its position in Southern Copper by 233.3% during the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 161 shares during the period. Institutional investors own 7.94% of the company’s stock.
Southern Copper Trading Down 0.6%
Shares of NYSE:SCCO opened at $174.69 on Tuesday. The firm has a market cap of $144.31 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 1.54 and a beta of 1.11. Southern Copper Corporation has a 12 month low of $88.73 and a 12 month high of $223.88. The company’s fifty day simple moving average is $181.20 and its 200 day simple moving average is $181.37. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57.
Southern Copper Announces Dividend
Analyst Ratings Changes
Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Southern Copper from $127.00 to $131.50 and gave the company an “underweight” rating in a research note on Wednesday, June 17th. Wall Street Zen raised shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Morgan Stanley upped their target price on shares of Southern Copper from $146.00 to $158.00 and gave the company an “underweight” rating in a research report on Wednesday, July 8th. UBS Group reissued a “sell” rating and issued a $160.00 price target (up from $145.00) on shares of Southern Copper in a research note on Tuesday, June 30th. Finally, Wells Fargo & Company raised their price target on Southern Copper from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $147.10.
View Our Latest Research Report on SCCO
Insider Activity
In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the sale, the director owned 1,807 shares of the company’s stock, valued at $321,320.74. This trade represents a 9.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 404 shares of company stock valued at $74,108. Company insiders own 0.07% of the company’s stock.
Southern Copper Company Profile
Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.
Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.
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