5,608 Shares in Southern Copper Corporation $SCCO Purchased by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC bought a new position in shares of Southern Copper Corporation (NYSE:SCCO) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,608 shares of the basic materials company’s stock, valued at approximately $567,000.

Other large investors have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. lifted its position in Southern Copper by 117.6% during the first quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company’s stock worth $25,000 after buying an additional 147 shares during the period. Golden State Wealth Management LLC purchased a new position in Southern Copper during the first quarter worth about $29,000. N.E.W. Advisory Services LLC purchased a new position in Southern Copper during the first quarter worth about $34,000. Quarry LP purchased a new position in shares of Southern Copper in the 1st quarter worth about $41,000. Finally, Bessemer Group Inc. raised its holdings in shares of Southern Copper by 3,100.0% in the 2nd quarter. Bessemer Group Inc. now owns 480 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 465 shares during the period. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $100.00, for a total transaction of $41,400.00. Following the sale, the director directly owned 2,327 shares in the company, valued at $232,700. This trade represents a 15.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 1,228 shares of company stock worth $123,102 in the last quarter. Company insiders own 0.07% of the company’s stock.

Southern Copper Stock Up 2.4%

Shares of SCCO stock opened at $141.66 on Thursday. The firm has a market cap of $113.90 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 1.29 and a beta of 1.02. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.67. Southern Copper Corporation has a 12 month low of $74.84 and a 12 month high of $144.81. The stock has a 50 day moving average of $115.86 and a 200-day moving average of $102.27.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Tuesday, October 28th. The basic materials company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. The firm had revenue of $3.38 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Southern Copper had a return on equity of 38.08% and a net margin of 30.37%. On average, equities analysts predict that Southern Copper Corporation will post 4.66 EPS for the current year.

Southern Copper Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Wednesday, November 12th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, November 12th. Southern Copper’s dividend payout ratio (DPR) is currently 70.02%.

Wall Street Analyst Weigh In

SCCO has been the topic of a number of research reports. Wells Fargo & Company upgraded Southern Copper to a “hold” rating in a report on Wednesday, October 8th. Jefferies Financial Group set a $155.00 target price on Southern Copper and gave the company a “buy” rating in a research note on Monday, October 6th. Citigroup reissued a “sell” rating and issued a $108.00 price objective (up from $89.10) on shares of Southern Copper in a report on Wednesday, October 8th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $115.00 target price (up from $89.00) on shares of Southern Copper in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on Southern Copper from $92.00 to $114.50 and gave the stock a “neutral” rating in a report on Monday. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Southern Copper currently has an average rating of “Reduce” and a consensus target price of $116.17.

Southern Copper Company Profile

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.