Integrated Advisors Network LLC Takes Position in Southern Copper Corporation $SCCO

Integrated Advisors Network LLC bought a new position in shares of Southern Copper Corporation (NYSE:SCCO) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,380 shares of the basic materials company’s stock, valued at approximately $926,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Walser Wealth Management Company A Ltd Liability Co bought a new stake in shares of Southern Copper during the 1st quarter worth about $2,238,000. Whittier Trust Co. raised its holdings in Southern Copper by 10.0% in the 1st quarter. Whittier Trust Co. now owns 2,053 shares of the basic materials company’s stock valued at $363,000 after acquiring an additional 187 shares during the period. DGS Capital Management LLC lifted its position in Southern Copper by 71.6% during the first quarter. DGS Capital Management LLC now owns 2,684 shares of the basic materials company’s stock worth $462,000 after acquiring an additional 1,120 shares during the last quarter. Ascentis Independent Advisors acquired a new stake in Southern Copper during the first quarter worth approximately $1,622,000. Finally, QRG Capital Management Inc. boosted its holdings in shares of Southern Copper by 3.6% during the first quarter. QRG Capital Management Inc. now owns 1,802 shares of the basic materials company’s stock worth $310,000 after acquiring an additional 63 shares during the period. Institutional investors own 7.94% of the company’s stock.

Insiders Place Their Bets

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 completion of the sale, the director directly owned 1,807 shares in the company, valued at approximately $321,320.74. This represents a 9.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 404 shares of company stock valued at $74,108. 0.07% of the stock is owned by insiders.

Southern Copper Stock Down 1.3%

NYSE SCCO opened at $167.58 on Thursday. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57. The company has a market cap of $138.44 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 1.52 and a beta of 1.11. The company has a 50 day moving average of $180.92 and a 200-day moving average of $180.74. Southern Copper Corporation has a 1-year low of $88.73 and a 1-year high of $223.88.

Southern Copper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were issued a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $4.00 annualized dividend and a yield of 2.4%. Southern Copper’s payout ratio is currently 66.12%.

Analyst Ratings Changes

Several research firms have recently commented on SCCO. Barclays assumed coverage on Southern Copper in a research report on Thursday, May 21st. They issued an “underweight” rating and a $148.00 target price on the stock. UBS Group restated a “sell” rating and issued a $160.00 price target (up from $145.00) on shares of Southern Copper in a research note on Tuesday, June 30th. Scotiabank reaffirmed an “underperform” rating and issued a $140.00 price objective (up from $135.00) on shares of Southern Copper in a report on Monday, June 15th. 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 report on Friday, April 10th. Finally, Wells Fargo & Company set a $171.00 target price on shares of Southern Copper and gave the company an “equal weight” rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $147.02.

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.