2,525 Shares in Southern Copper Co. (NYSE:SCCO) Bought by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC acquired a new position in Southern Copper Co. (NYSE:SCCO) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 2,525 shares of the basic materials company’s stock, valued at approximately $217,000.

Several other hedge funds have also recently made changes to their positions in the business. Janiczek Wealth Management LLC raised its position in shares of Southern Copper by 11.5% in the 4th quarter. Janiczek Wealth Management LLC now owns 1,227 shares of the basic materials company’s stock worth $106,000 after acquiring an additional 127 shares in the last quarter. CWM LLC increased its position in Southern Copper by 3.3% in the 4th quarter. CWM LLC now owns 4,329 shares of the basic materials company’s stock valued at $373,000 after buying an additional 137 shares in the last quarter. First National Trust Co increased its position in Southern Copper by 0.4% in the 4th quarter. First National Trust Co now owns 37,134 shares of the basic materials company’s stock valued at $3,196,000 after buying an additional 150 shares in the last quarter. Glenmede Trust Co. NA increased its position in Southern Copper by 2.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,592 shares of the basic materials company’s stock valued at $496,000 after buying an additional 173 shares in the last quarter. Finally, Dfpg Investments LLC increased its position in Southern Copper by 1.4% in the 4th quarter. Dfpg Investments LLC now owns 13,188 shares of the basic materials company’s stock valued at $1,106,000 after buying an additional 176 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 300 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $118.50, for a total value of $35,550.00. Following the completion of the transaction, the director now directly owns 4,614 shares of the company’s stock, valued at $546,759. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 600 shares of company stock valued at $63,430 over the last three months. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SCCO. Scotiabank boosted their target price on Southern Copper from $53.00 to $55.00 and gave the company a “sector underperform” rating in a research report on Thursday, April 18th. Morgan Stanley boosted their target price on Southern Copper from $123.00 to $135.00 and gave the company an “underweight” rating in a research report on Tuesday, April 30th. JPMorgan Chase & Co. decreased their target price on Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a research report on Thursday, March 21st. CICC Research started coverage on Southern Copper in a research report on Wednesday, April 24th. They issued an “outperform” rating for the company. Finally, StockNews.com upgraded Southern Copper from a “hold” rating to a “buy” rating in a research note on Wednesday. Five analysts have rated the stock with a sell rating and three have given a buy rating to the company. According to MarketBeat.com, Southern Copper presently has an average rating of “Hold” and a consensus price target of $90.50.

Southern Copper Price Performance

SCCO stock opened at $125.41 on Friday. The company has a market capitalization of $97.97 billion, a P/E ratio of 41.68, a price-to-earnings-growth ratio of 2.70 and a beta of 1.27. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.56 and a current ratio of 3.31. Southern Copper Co. has a 52-week low of $64.66 and a 52-week high of $125.54. The business has a 50-day simple moving average of $110.73 and a two-hundred day simple moving average of $90.40.

Southern Copper (NYSE:SCCO) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.17. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. Southern Copper had a return on equity of 30.44% and a net margin of 24.20%. Research analysts expect that Southern Copper Co. will post 3.97 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Wednesday, May 8th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Tuesday, May 7th. Southern Copper’s dividend payout ratio is presently 1.33%.

Southern Copper Profile

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.