McAlvany Wealth Management LLC Buys Shares of 12,616 Southern Copper Corporation $SCCO

McAlvany Wealth Management LLC bought a new position in Southern Copper Corporation (NYSE:SCCO) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 12,616 shares of the basic materials company’s stock, valued at approximately $1,810,000. Southern Copper accounts for 1.4% of McAlvany Wealth Management LLC’s investment portfolio, making the stock its 21st largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. SHP Wealth Management bought a new stake in shares of Southern Copper in the 4th quarter valued at $25,000. Lloyd Advisory Services LLC. bought a new position in Southern Copper during the fourth quarter worth about $29,000. Virtus Advisers LLC bought a new position in Southern Copper during the fourth quarter worth about $29,000. Caitlin John LLC bought a new position in Southern Copper during the third quarter worth about $30,000. Finally, Godfrey Financial Associates Inc. acquired a new position in Southern Copper in the fourth quarter valued at about $30,000. 7.94% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the 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 directly 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 404 shares of company stock worth $74,108 in the last ninety days. 0.07% of the stock is currently owned by company insiders.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $192.98 on Friday. The company has a fifty day moving average price of $184.81 and a 200 day moving average price of $177.41. The firm has a market cap of $159.41 billion, a PE ratio of 31.90, a PEG ratio of 1.79 and a beta of 1.09. 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 1-year low of $88.73 and a 1-year high of $223.88.

Southern Copper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, May 13th. Southern Copper’s dividend payout ratio is currently 66.12%.

Analyst Upgrades and Downgrades

SCCO has been the subject of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Southern Copper in a report on Friday, March 27th. 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 report on Friday, April 10th. Wells Fargo & Company set a $171.00 price objective on Southern Copper and gave the company an “equal weight” rating in a research report on Friday, May 1st. UBS Group increased their target price on Southern Copper from $140.00 to $145.00 and gave the stock a “sell” rating in a research note on Thursday, May 21st. Finally, Bank of America downgraded shares of Southern Copper from a “neutral” rating to an “underperform” rating and raised their target price for the stock from $162.00 to $175.00 in a report on Thursday, February 26th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $145.94.

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.