SMART Wealth LLC Takes Position in Southern Copper Corporation $SCCO

SMART Wealth LLC acquired a new stake in shares of Southern Copper Corporation (NYSE:SCCO) during the first quarter, HoldingsChannel reports. The fund acquired 3,648 shares of the basic materials company’s stock, valued at approximately $628,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Intech Investment Management LLC grew its position in Southern Copper by 0.8% in the 4th quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company’s stock worth $865,000 after purchasing an additional 50 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in Southern Copper by 0.8% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,072 shares of the basic materials company’s stock valued at $871,000 after buying an additional 51 shares during the last quarter. Steel Grove Capital Advisors LLC lifted its holdings in shares of Southern Copper by 1.8% during the 4th quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company’s stock valued at $417,000 after buying an additional 52 shares during the period. Ensign Peak Advisors Inc lifted its holdings in shares of Southern Copper by 0.8% during the 4th quarter. Ensign Peak Advisors Inc now owns 6,379 shares of the basic materials company’s stock valued at $915,000 after buying an additional 53 shares during the period. Finally, Venture Visionary Partners LLC boosted its stake in shares of Southern Copper by 0.8% in the 4th quarter. Venture Visionary Partners LLC now owns 6,998 shares of the basic materials company’s stock worth $1,004,000 after buying an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Up 3.6%

Shares of Southern Copper stock opened at $174.55 on Wednesday. The company’s fifty day simple moving average is $182.53 and its 200-day simple moving average is $179.52. The stock has a market capitalization of $144.19 billion, a PE ratio of 28.85, a P/E/G ratio of 1.51 and a beta of 1.09. Southern Copper Corporation has a 1-year low of $88.73 and a 1-year high of $223.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89.

Southern Copper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, May 13th. Southern Copper’s dividend payout ratio (DPR) is currently 66.12%.

Insider Buying and Selling

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the transaction, the director directly owned 1,807 shares in the company, valued at approximately $321,320.74. The trade was a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 404 shares of company stock valued at $74,108. 0.07% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SCCO has been the subject of several research analyst reports. Scotiabank reaffirmed an “underperform” rating and issued a $140.00 price objective (up from $135.00) on shares of Southern Copper in a report on Monday, June 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Southern Copper in a report on Wednesday, June 24th. UBS Group reissued a “sell” rating and issued a $160.00 target price (up from $145.00) on shares of Southern Copper in a research report on Tuesday. The Goldman Sachs Group upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target for the company in a research note on Friday, April 10th. Finally, Wall Street Zen raised shares of Southern Copper from a “hold” rating to a “buy” rating in a research report on Saturday. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $147.19.

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.