Sound View Wealth Advisors Group LLC Invests $217,000 in Southern Copper Co. (NYSE:SCCO)

Sound View Wealth Advisors Group LLC purchased a new position in shares of Southern Copper Co. (NYSE:SCCOFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,525 shares of the basic materials company’s stock, valued at approximately $217,000.

Other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in Southern Copper by 7.0% in the third quarter. AQR Capital Management LLC now owns 80,682 shares of the basic materials company’s stock worth $6,075,000 after purchasing an additional 5,296 shares during the period. Tyche Wealth Partners LLC bought a new stake in shares of Southern Copper during the fourth quarter valued at about $1,668,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of Southern Copper by 119.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 41,223 shares of the basic materials company’s stock valued at $3,548,000 after purchasing an additional 22,471 shares in the last quarter. International Assets Investment Management LLC raised its position in Southern Copper by 8,523.8% in the fourth quarter. International Assets Investment Management LLC now owns 172,907 shares of the basic materials company’s stock worth $14,882,000 after acquiring an additional 170,902 shares in the last quarter. Finally, Viking Fund Management LLC bought a new stake in Southern Copper in the fourth quarter worth about $31,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Insider Buying and Selling at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 300 shares of Southern Copper stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $118.50, for a total value of $35,550.00. Following the completion of the sale, the director now directly owns 4,614 shares in the company, valued at $546,759. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 600 shares of company stock worth $63,430 over the last ninety days. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on SCCO shares. Jefferies Financial Group raised shares of Southern Copper from a “hold” rating to a “buy” rating and upped their price objective for the company from $91.00 to $130.00 in a research note on Friday, March 22nd. Scotiabank lifted their price objective on shares of Southern Copper from $53.00 to $55.00 and gave the stock a “sector underperform” rating in a research report on Thursday, April 18th. HSBC cut Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 target price for the company. in a research report on Monday, April 22nd. StockNews.com raised Southern Copper from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, CICC Research assumed coverage on Southern Copper in a research note on Wednesday, April 24th. They issued an “outperform” rating for the company. Five research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat, Southern Copper currently has an average rating of “Hold” and a consensus price target of $90.50.

Read Our Latest Stock Report on SCCO

Southern Copper Stock Performance

SCCO stock opened at $125.41 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 stock has a market cap of $97.97 billion, a P/E ratio of 41.68, a P/E/G ratio of 2.70 and a beta of 1.27. The firm has a 50 day simple moving average of $110.73 and a 200 day simple moving average of $90.40. Southern Copper Co. has a 52 week low of $64.66 and a 52 week high of $125.54.

Southern Copper (NYSE:SCCOGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.77 by $0.17. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Southern Copper had a net margin of 24.20% and a return on equity of 30.44%. Research analysts anticipate that Southern Copper Co. will post 3.97 earnings per share 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. Shareholders of record on Wednesday, May 8th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Tuesday, May 7th. Southern Copper’s dividend payout ratio (DPR) is presently 1.33%.

Southern Copper Profile

(Free Report)

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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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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