GC Wealth Management RIA LLC Invests $706,000 in Southern Copper Corporation $SCCO

GC Wealth Management RIA LLC purchased a new stake in Southern Copper Corporation (NYSE:SCCO) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,105 shares of the basic materials company’s stock, valued at approximately $706,000.

Other institutional investors also recently modified their holdings of the company. SHP Wealth Management purchased a new position in Southern Copper in the 4th quarter valued at approximately $25,000. Lloyd Advisory Services LLC. bought a new stake in Southern Copper during the 4th quarter valued at $29,000. Virtus Advisers LLC purchased a new stake in shares of Southern Copper during the fourth quarter worth $29,000. Godfrey Financial Associates Inc. purchased a new stake in shares of Southern Copper during the fourth quarter worth $30,000. Finally, IFP Advisors Inc boosted its holdings in shares of Southern Copper by 233.3% in the fourth quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 161 shares during the period. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction dated 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 owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. The trade was a 9.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 404 shares of company stock worth $74,108 over the last ninety days. 0.07% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SCCO. Citigroup reiterated a “positive” rating on shares of Southern Copper in a research report on Wednesday, July 15th. Barclays set a $166.00 target price on Southern Copper and gave the stock an “underweight” rating in a research note on Thursday. Morgan Stanley lifted their target price on Southern Copper from $146.00 to $158.00 and gave the company an “underweight” rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. increased their price target on shares of Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a report on Wednesday, June 17th. Finally, Wells Fargo & Company raised their price objective on shares of Southern Copper from $171.00 to $172.00 and gave the company 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, three have assigned a Buy rating, three have given a Hold rating and seven have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $148.60.

Southern Copper Trading Down 1.4%

Shares of SCCO stock opened at $179.69 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. Southern Copper Corporation has a 52-week low of $88.73 and a 52-week high of $223.88. The company has a market capitalization of $148.44 billion, a PE ratio of 26.27, a price-to-earnings-growth ratio of 1.53 and a beta of 1.11. The business’s fifty day moving average is $180.76 and its 200 day moving average is $183.39.

Southern Copper’s stock is scheduled to split on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly minted shares will be distributed to shareholders after the market closes on Monday, August 10th.

Southern Copper (NYSE:SCCO) last posted its earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. The business had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.37 billion. Southern Copper had a return on equity of 50.74% and a net margin of 35.87%.The firm’s revenue was up 40.6% on a year-over-year basis. On average, equities research analysts anticipate that Southern Copper Corporation will post 7.63 EPS for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be given a dividend of $1.10 per share. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date is Tuesday, August 11th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.4%. Southern Copper’s dividend payout ratio is 58.48%.

Southern Copper 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.