Covestor Ltd lowered its position in Southern Copper Co. (NYSE:SCCO – Free Report) by 32.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 263 shares of the basic materials company’s stock after selling 128 shares during the period. Covestor Ltd’s holdings in Southern Copper were worth $28,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also added to or reduced their stakes in the company. Fortis Group Advisors LLC increased its holdings in Southern Copper by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after buying an additional 151 shares during the period. Fidelis Capital Partners LLC purchased a new stake in shares of Southern Copper during the 1st quarter worth about $26,000. Riverview Trust Co purchased a new stake in shares of Southern Copper during the 1st quarter worth about $27,000. Venturi Wealth Management LLC boosted its stake in shares of Southern Copper by 164.8% during the 4th quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 300 shares in the last quarter. Finally, Washington Trust Advisors Inc. purchased a new stake in shares of Southern Copper during the 4th quarter worth about $45,000. Institutional investors own 7.94% of the company’s stock.
Insider Buying and Selling
In related news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $118.30, for a total transaction of $425,880.00. Following the sale, the director now owns 2,214 shares of the company’s stock, valued at $261,916.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 300 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $118.50, for a total value of $35,550.00. Following the sale, the director now owns 4,614 shares of the company’s stock, valued at $546,759. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $118.30, for a total transaction of $425,880.00. Following the completion of the sale, the director now directly owns 2,214 shares in the company, valued at approximately $261,916.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,000 shares of company stock valued at $472,430. Corporate insiders own 0.08% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on SCCO. UBS Group began coverage on shares of Southern Copper in a report on Friday, July 12th. They set a “neutral” rating and a $120.00 price target for the company. Morgan Stanley raised their price target on shares of Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a report on Friday, June 21st. Scotiabank cut their price target on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating for the company in a report on Tuesday, May 21st. HSBC downgraded shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price target for the company. in a report on Monday, April 22nd. Finally, StockNews.com upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Southern Copper currently has a consensus rating of “Hold” and a consensus target price of $89.57.
Get Our Latest Stock Report on Southern Copper
Southern Copper Trading Up 1.0 %
NYSE SCCO opened at $105.40 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.56 and a current ratio of 3.31. The firm has a market cap of $82.33 billion, a PE ratio of 35.03, a P/E/G ratio of 1.06 and a beta of 1.19. Southern Copper Co. has a one year low of $68.93 and a one year high of $129.79. The firm’s fifty day moving average is $111.95 and its two-hundred day moving average is $102.33.
Southern Copper (NYSE:SCCO – Get Free Report) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.17. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. Southern Copper had a net margin of 24.20% and a return on equity of 30.44%. Analysts expect that Southern Copper Co. will post 4.34 earnings per share for the current year.
Southern Copper Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Friday, August 9th. Southern Copper’s dividend payout ratio is currently 92.07%.
About Southern Copper
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.
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