SMART Wealth LLC Takes Position in Southern Copper Corporation $SCCO

SMART Wealth LLC purchased a new stake in shares of Southern Copper Corporation (NYSE:SCCO) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 3,648 shares of the basic materials company’s stock, valued at approximately $628,000.

A number of other institutional investors also recently bought and sold shares of SCCO. Intech Investment Management LLC boosted its position in Southern Copper by 0.8% during the 4th quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company’s stock valued at $865,000 after acquiring an additional 50 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of Southern Copper by 0.8% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,072 shares of the basic materials company’s stock worth $871,000 after acquiring an additional 51 shares in the last quarter. Steel Grove Capital Advisors LLC raised its position in shares of Southern Copper by 1.8% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company’s stock worth $417,000 after acquiring an additional 52 shares in the last quarter. Ensign Peak Advisors Inc lifted its stake in shares of Southern Copper by 0.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 6,379 shares of the basic materials company’s stock valued at $915,000 after purchasing an additional 53 shares during the period. Finally, Venture Visionary Partners LLC lifted its stake in shares of Southern Copper by 0.8% in the 4th quarter. Venture Visionary Partners LLC now owns 6,998 shares of the basic materials company’s stock valued at $1,004,000 after purchasing an additional 53 shares during the period. 7.94% of the stock is owned by institutional investors.

Southern Copper Stock Performance

SCCO stock opened at $174.55 on Wednesday. The stock’s 50 day simple moving average is $182.53 and its 200 day simple moving average is $179.52. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57. Southern Copper Corporation has a 12-month low of $88.73 and a 12-month high of $223.88. The stock has a market capitalization of $144.19 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 1.51 and a beta of 1.09.

Southern Copper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were paid a $1.00 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. Southern Copper’s payout ratio is currently 66.12%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SCCO. JPMorgan Chase & Co. upped their price target on Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a research note on Wednesday, June 17th. Scotiabank reiterated an “underperform” rating and set a $140.00 price objective (up from $135.00) on shares of Southern Copper in a research note on Monday, June 15th. Morgan Stanley boosted their target price on Southern Copper from $155.00 to $160.00 and gave the stock an “underweight” rating in a report on Thursday, April 9th. UBS Group reissued a “sell” rating and issued a $160.00 target price (up from $145.00) on shares of Southern Copper in a research note on Tuesday. Finally, Barclays assumed coverage on Southern Copper in a report on Thursday, May 21st. They set an “underweight” rating and a $148.00 price target for the company. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Southern Copper has an average rating of “Reduce” and a consensus price target of $147.19.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the transaction, the director directly owned 1,807 shares of the company’s stock, valued at $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 404 shares of company stock worth $74,108 over the last 90 days. Corporate insiders own 0.07% of the company’s stock.

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.