Cauble & Harre Wealth Management Inc. Invests $490,000 in Southern Copper Corporation $SCCO

Cauble & Harre Wealth Management Inc. bought a new stake in Southern Copper Corporation (NYSE:SCCO) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 2,814 shares of the basic materials company’s stock, valued at approximately $490,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SHP Wealth Management acquired a new position in Southern Copper in the fourth quarter valued at $25,000. Bell Investment Advisors Inc acquired a new stake in shares of Southern Copper during the second quarter worth about $26,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Southern Copper during the fourth quarter worth about $29,000. Virtus Advisers LLC purchased a new stake in shares of Southern Copper in the 4th quarter valued at about $29,000. Finally, Godfrey Financial Associates Inc. purchased a new stake in shares of Southern Copper in the 4th quarter valued at about $30,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 202 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $196.79, for a total transaction of $39,751.28. Following the sale, the director owned 1,723 shares of the company’s stock, valued at approximately $339,066.65. The trade was a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 509 shares of company stock valued at $97,753 in the last ninety days. 0.07% of the stock is owned by company insiders.

Southern Copper Trading Up 8.8%

Shares of SCCO stock opened at $216.30 on Friday. The business’s fifty day moving average price is $182.23 and its 200 day moving average price is $183.20. The firm has a market capitalization of $180.47 billion, a PE ratio of 31.62, a P/E/G ratio of 1.70 and a beta of 1.11. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.06 and a quick ratio of 4.56. Southern Copper Corporation has a 1-year low of $92.94 and a 1-year high of $223.88.

Southern Copper (NYSE:SCCO) last released its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.06. The company had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The company’s revenue for the quarter was up 40.6% on a year-over-year basis. As a group, sell-side analysts forecast that Southern Copper Corporation will post 7.61 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.0%. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date is Tuesday, August 11th. Southern Copper’s dividend payout ratio (DPR) is 64.33%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SCCO shares. Scotiabank restated an “underperform” rating and set a $138.34 price target (up from $133.40) on shares of Southern Copper in a research note on Monday, June 15th. Morgan Stanley boosted their price objective on Southern Copper from $144.27 to $156.13 and gave the company an “underweight” rating in a research note on Wednesday, July 8th. Weiss Ratings raised Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Zacks Research cut shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have assigned a Sell rating to the stock. According to data from MarketBeat, Southern Copper currently has a consensus rating of “Reduce” and an average target price of $146.84.

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.