McAlvany Wealth Management LLC Invests $1.81 Million in Southern Copper Corporation $SCCO

McAlvany Wealth Management LLC bought a new position in shares of Southern Copper Corporation (NYSE:SCCO) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 12,616 shares of the basic materials company’s stock, valued at approximately $1,810,000. Southern Copper accounts for about 1.4% of McAlvany Wealth Management LLC’s portfolio, making the stock its 21st largest holding.

A number of other hedge funds have also added to or reduced their stakes in SCCO. SHP Wealth Management acquired a new stake in Southern Copper in the 4th quarter valued at $25,000. Lloyd Advisory Services LLC. acquired a new position in shares of Southern Copper during the 4th quarter worth about $29,000. Virtus Advisers LLC acquired a new position in shares of Southern Copper during the 4th quarter worth about $29,000. Caitlin John LLC bought a new position in shares of Southern Copper in the 3rd quarter valued at about $30,000. Finally, Godfrey Financial Associates Inc. bought a new position in shares of Southern Copper in the 4th quarter valued at about $30,000. Institutional investors own 7.94% of the company’s stock.

Insider Buying and Selling

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the completion of the transaction, the director owned 1,807 shares in the company, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 404 shares of company stock worth $74,108 in the last three months. Company insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SCCO. UBS Group lifted their target price on Southern Copper from $140.00 to $145.00 and gave the company a “sell” rating in a research report on Thursday, May 21st. Morgan Stanley increased their price target on Southern Copper from $155.00 to $160.00 and gave the company an “underweight” rating in a research report on Thursday, April 9th. Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Wells Fargo & Company set a $171.00 price target on Southern Copper and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, The Goldman Sachs Group upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective on the stock in a research note on Friday, April 10th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat, Southern Copper presently has a consensus rating of “Reduce” and a consensus price target of $145.94.

Southern Copper Stock Performance

Shares of SCCO opened at $192.98 on Friday. The company has a market cap of $159.41 billion, a PE ratio of 31.90, a price-to-earnings-growth ratio of 1.79 and a beta of 1.09. The firm has a 50-day moving average of $184.81 and a 200-day moving average of $177.41. Southern Copper Corporation has a one year low of $88.73 and a one year high of $223.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89.

Southern Copper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.1%. The ex-dividend date was Wednesday, May 13th. Southern Copper’s dividend payout ratio (DPR) is 66.12%.

About Southern Copper

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.