Walser Wealth Management Company A Ltd Liability Co Takes $2.24 Million Position in Southern Copper Corporation $SCCO

Walser Wealth Management Company A Ltd Liability Co purchased a new stake in Southern Copper Corporation (NYSE:SCCO) during the first quarter, according to its most recent filing with the SEC. The fund purchased 13,007 shares of the basic materials company’s stock, valued at approximately $2,238,000. Southern Copper comprises about 1.0% of Walser Wealth Management Company A Ltd Liability Co’s portfolio, making the stock its 16th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SHP Wealth Management purchased a new position in shares of Southern Copper in the 4th quarter worth $25,000. Lloyd Advisory Services LLC. purchased a new position in shares of Southern Copper during the fourth quarter valued at approximately $29,000. Virtus Advisers LLC purchased a new stake in shares of Southern Copper in the fourth quarter worth approximately $29,000. Godfrey Financial Associates Inc. purchased a new stake in Southern Copper in the fourth quarter worth $30,000. Finally, IFP Advisors Inc boosted its stake in shares of Southern Copper by 233.3% during the fourth 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.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the 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 completion of the transaction, the director directly owned 1,807 shares in the company, valued at approximately $321,320.74. This represents a 9.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 404 shares of company stock valued at $74,108. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SCCO shares. Scotiabank reissued an “underperform” rating and set a $140.00 price objective (up from $135.00) on shares of Southern Copper in a report on Monday, June 15th. Wells Fargo & Company set a $171.00 price target on Southern Copper and gave the company an “equal weight” rating in a research note on Friday, May 1st. The Goldman Sachs Group raised shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective on the stock in a report on Friday, April 10th. Morgan Stanley lifted their price objective on shares of Southern Copper from $155.00 to $160.00 and gave the company an “underweight” rating in a research note on Thursday, April 9th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have assigned a Sell rating to the stock. Based on data from MarketBeat, Southern Copper presently has a consensus rating of “Reduce” and a consensus price target of $147.19.

Southern Copper Price Performance

Shares of NYSE:SCCO traded down $5.76 during midday trading on Tuesday, hitting $168.11. The company’s stock had a trading volume of 169,029 shares, compared to its average volume of 1,766,201. Southern Copper Corporation has a 12-month low of $88.73 and a 12-month high of $223.88. The company has a market cap of $138.87 billion, a P/E ratio of 27.71, a price-to-earnings-growth ratio of 1.55 and a beta of 1.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. The business’s 50 day simple moving average is $181.53 and its 200 day simple moving average is $180.10.

Southern Copper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were issued a dividend of $1.00 per share. The ex-dividend date was Wednesday, May 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.4%. Southern Copper’s dividend payout ratio (DPR) is currently 66.12%.

About Southern Copper

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.