3,865 Shares in Southern Copper Corporation $SCCO Purchased by Cadence Wealth Management LLC

Cadence Wealth Management LLC acquired a new position in Southern Copper Corporation (NYSE:SCCO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,865 shares of the basic materials company’s stock, valued at approximately $674,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. California Public Employees Retirement System lifted its stake in shares of Southern Copper by 21.2% during the 1st quarter. California Public Employees Retirement System now owns 192,523 shares of the basic materials company’s stock valued at $33,126,000 after buying an additional 33,638 shares in the last quarter. RFG Advisory LLC purchased a new position in Southern Copper in the 4th quarter valued at approximately $1,147,000. US Bancorp DE grew its stake in Southern Copper by 16.2% in the 4th quarter. US Bancorp DE now owns 74,484 shares of the basic materials company’s stock valued at $10,687,000 after buying an additional 10,360 shares in the last quarter. Ashoka WhiteOak Capital Pte Ltd purchased a new position in Southern Copper in the 4th quarter valued at approximately $5,460,000. Finally, Precision Wealth Strategies LLC bought a new stake in Southern Copper during the 1st quarter valued at $2,769,000. 7.94% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 202 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total value of $39,751.28. Following the transaction, the director directly owned 1,723 shares in the company, valued at $339,066.65. This represents a 10.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 509 shares of company stock worth $97,753 in the last three months. 0.07% of the stock is owned by insiders.

Southern Copper Stock Performance

NYSE SCCO opened at $216.30 on Friday. The company’s 50 day simple moving average is $182.23 and its two-hundred day simple moving average is $183.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.06 and a quick ratio of 4.56. Southern Copper Corporation has a 1 year low of $92.94 and a 1 year high of $223.88. The stock has a market capitalization of $180.47 billion, a PE ratio of 31.62, a P/E/G ratio of 1.85 and a beta of 1.11.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.06. The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. Southern Copper’s revenue for the quarter was up 40.6% compared to the same quarter last year. Analysts predict that Southern Copper Corporation will post 7.61 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be paid a dividend of $1.10 per share. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, August 11th. Southern Copper’s dividend payout ratio is 64.33%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wells Fargo & Company increased their target price on Southern Copper from $168.97 to $169.96 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. boosted their price objective on Southern Copper from $125.49 to $129.94 and gave the company an “underweight” rating in a research note on Wednesday, June 17th. Wall Street Zen cut Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. CICC Research downgraded Southern Copper to a “market perform” rating in a research note on Sunday, July 26th. Finally, UBS Group reaffirmed a “sell” rating and set a $158.10 target price (up from $143.28) on shares of Southern Copper in a report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $146.84.

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.