Pring Turner Capital Group Inc. Invests $3.10 Million in Southern Copper Corporation $SCCO

Pring Turner Capital Group Inc. purchased a new stake in shares of Southern Copper Corporation (NYSE:SCCO) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 25,501 shares of the basic materials company’s stock, valued at approximately $3,095,000. Southern Copper accounts for approximately 1.9% of Pring Turner Capital Group Inc.’s portfolio, making the stock its 25th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. bought a new stake in shares of Southern Copper during the 3rd quarter valued at $25,000. MJT & Associates Financial Advisory Group Inc. lifted its position in Southern Copper by 65.1% during the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 84 shares during the period. Tobam bought a new stake in Southern Copper during the second quarter worth about $29,000. United Community Bank purchased a new stake in Southern Copper in the third quarter worth about $30,000. Finally, Westside Investment Management Inc. bought a new stake in shares of Southern Copper in the 2nd quarter worth approximately $32,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Stock Performance

Shares of SCCO opened at $198.03 on Tuesday. The firm has a market capitalization of $160.84 billion, a P/E ratio of 37.22, a PEG ratio of 1.63 and a beta of 1.06. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.52 and a quick ratio of 3.91. Southern Copper Corporation has a one year low of $74.84 and a one year high of $218.81. The business has a fifty day moving average of $169.62 and a 200 day moving average of $135.69.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 10th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.0%. This is a positive change from Southern Copper’s previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, February 10th. Southern Copper’s dividend payout ratio (DPR) is presently 75.19%.

Wall Street Analysts Forecast Growth

SCCO has been the topic of a number of recent research reports. Wells Fargo & Company set a $190.38 target price on Southern Copper and gave the stock an “equal weight” rating in a research note on Thursday, January 29th. Citigroup restated a “sell” rating on shares of Southern Copper in a research note on Monday, January 12th. Itau BBA Securities downgraded shares of Southern Copper from a “market perform” rating to an “underperform” rating and set a $124.94 target price on the stock. in a research note on Monday, December 22nd. Scotiabank restated an “underperform” rating on shares of Southern Copper in a report on Tuesday, January 27th. Finally, Wall Street Zen cut Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $136.49.

Insider Buying and Selling

In other news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of Southern Copper stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total transaction of $1,954,344.91. Following the transaction, the director owned 605 shares in the company, valued at $126,783.04. This trade represents a 93.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bonilla Luis Miguel Palomino sold 403 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $137.83, for a total value of $55,544.87. Following the completion of the sale, the director owned 1,275 shares of the company’s stock, valued at $175,731.28. This trade represents a 24.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.07% of the stock is currently owned by corporate insiders.

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.