Southern Copper Co. (NYSE:SCCO) Shares Bought by GoalVest Advisory LLC

GoalVest Advisory LLC boosted its stake in shares of Southern Copper Co. (NYSE:SCCO) by 8.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 18,045 shares of the basic materials company’s stock after purchasing an additional 1,417 shares during the period. GoalVest Advisory LLC’s holdings in Southern Copper were worth $1,686,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. purchased a new position in Southern Copper in the 4th quarter valued at about $30,000. Deseret Mutual Benefit Administrators lifted its stake in Southern Copper by 210.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 379 shares of the basic materials company’s stock valued at $35,000 after buying an additional 257 shares in the last quarter. IFP Advisors Inc lifted its stake in Southern Copper by 143.4% in the 4th quarter. IFP Advisors Inc now owns 477 shares of the basic materials company’s stock valued at $43,000 after buying an additional 281 shares in the last quarter. Spire Wealth Management purchased a new position in Southern Copper in the 4th quarter valued at about $47,000. Finally, Larson Financial Group LLC lifted its stake in Southern Copper by 28.0% in the 4th quarter. Larson Financial Group LLC now owns 521 shares of the basic materials company’s stock valued at $48,000 after buying an additional 114 shares in the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Scotiabank increased their price objective on shares of Southern Copper from $52.00 to $72.00 and gave the company a “sector underperform” rating in a report on Monday, March 10th. Wall Street Zen downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Tuesday, May 20th. Hsbc Global Res upgraded shares of Southern Copper from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 24th. UBS Group cut their price objective on shares of Southern Copper from $120.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Southern Copper from $84.00 to $83.50 and set a “neutral” rating for the company in a report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $91.50.

Southern Copper Stock Up 0.8%

Southern Copper stock opened at $92.45 on Friday. Southern Copper Co. has a twelve month low of $74.11 and a twelve month high of $118.64. The stock has a 50 day moving average of $89.66 and a two-hundred day moving average of $93.78. The company has a current ratio of 2.77, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $73.61 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 1.90 and a beta of 1.05.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.14. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Southern Copper had a net margin of 29.53% and a return on equity of 40.27%. As a group, research analysts expect that Southern Copper Co. will post 4.66 earnings per share for the current year.

Southern Copper Dividend Announcement

The business also recently announced a dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were issued a $0.70 dividend. The ex-dividend date was Friday, May 2nd. This represents a yield of 2.98%. Southern Copper’s dividend payout ratio (DPR) is presently 61.27%.

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.