Precision Wealth Strategies LLC Makes New Investment in Southern Copper Corporation $SCCO

Precision Wealth Strategies LLC bought a new position in shares of Southern Copper Corporation (NYSE:SCCO) in the first quarter, HoldingsChannel reports. The firm bought 16,095 shares of the basic materials company’s stock, valued at approximately $2,769,000. Southern Copper makes up approximately 0.9% of Precision Wealth Strategies LLC’s investment portfolio, making the stock its 29th largest holding.

Several other hedge funds have also modified their holdings of the business. Intech Investment Management LLC boosted its stake in shares of Southern Copper by 0.8% in the fourth quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company’s stock valued at $865,000 after buying an additional 50 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Southern Copper by 0.8% in the fourth 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 Southern Copper by 1.8% in the fourth 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 holdings in Southern Copper by 0.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 6,379 shares of the basic materials company’s stock valued at $915,000 after acquiring an additional 53 shares during the period. Finally, Venture Visionary Partners LLC lifted its holdings in Southern Copper by 0.8% in the fourth quarter. Venture Visionary Partners LLC now owns 6,998 shares of the basic materials company’s stock valued at $1,004,000 after acquiring an additional 53 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Stock Performance

Shares of SCCO stock opened at $172.22 on Friday. The stock has a fifty day moving average price of $181.03 and a 200 day moving average price of $181.99. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. The stock has a market cap of $142.26 billion, a PE ratio of 28.47, a P/E/G ratio of 1.47 and a beta of 1.11. Southern Copper Corporation has a 1 year low of $88.73 and a 1 year high of $223.88.

Southern Copper Dividend Announcement

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

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper 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 transaction, the director owned 1,807 shares of the company’s stock, valued at $321,320.74. The trade was a 9.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 404 shares of company stock worth $74,108. Insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

SCCO has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a research report on Wednesday, June 17th. Citigroup reiterated a “positive” rating on shares of Southern Copper in a report on Wednesday. Wells Fargo & Company raised their price objective on shares of Southern Copper from $171.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Barclays reissued an “underweight” rating and set a $160.00 price objective (up from $148.00) on shares of Southern Copper in a report on Wednesday. Finally, UBS Group restated a “sell” rating and set a $160.00 target price (up from $145.00) on shares of Southern Copper in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and seven have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $148.10.

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.