8,927 Shares in Southern Copper Corporation $SCCO Bought by National Wealth Management Group LLC

National Wealth Management Group LLC acquired a new stake in shares of Southern Copper Corporation (NYSE:SCCO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 8,927 shares of the basic materials company’s stock, valued at approximately $1,281,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rakuten Investment Management Inc. purchased a new stake in Southern Copper during the third quarter valued at approximately $2,976,000. Legal & General Group Plc boosted its stake in Southern Copper by 4.3% in the second quarter. Legal & General Group Plc now owns 941,712 shares of the basic materials company’s stock valued at $95,273,000 after acquiring an additional 38,856 shares in the last quarter. Nordea Investment Management AB grew its holdings in Southern Copper by 5.7% in the third quarter. Nordea Investment Management AB now owns 148,484 shares of the basic materials company’s stock worth $17,778,000 after purchasing an additional 7,995 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Southern Copper by 2,631.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,441 shares of the basic materials company’s stock worth $1,631,000 after purchasing an additional 12,949 shares in the last quarter. Finally, Alps Advisors Inc. increased its position in shares of Southern Copper by 54.2% during the third quarter. Alps Advisors Inc. now owns 35,647 shares of the basic materials company’s stock worth $4,326,000 after purchasing an additional 12,532 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Insider Buying and Selling at Southern Copper

In other Southern Copper news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total value of $1,954,344.91. Following the sale, the director directly owned 605 shares of the company’s stock, valued at approximately $126,783.04. This represents a 93.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bonilla Luis Miguel Palomino sold 193 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $174.60, for a total value of $33,697.80. Following the sale, the director directly owned 1,707 shares in the company, valued at $298,042.20. This represents a 10.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 9,526 shares of company stock valued at $1,989,373. 0.07% of the stock is currently owned by corporate insiders.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $165.55 on Thursday. Southern Copper Corporation has a 52 week low of $74.84 and a 52 week high of $223.88. The business’s 50 day moving average price is $190.56 and its 200 day moving average price is $152.96. The company has a quick ratio of 3.40, a current ratio of 3.89 and a debt-to-equity ratio of 0.61. The firm has a market cap of $135.60 billion, a P/E ratio of 31.12, a P/E/G ratio of 1.65 and a beta of 1.03.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, January 28th. The basic materials company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.01. Southern Copper had a net margin of 32.30% and a return on equity of 41.97%. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the prior year, the company earned $0.98 EPS. On average, sell-side analysts expect that Southern Copper Corporation will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th were paid a $1.00 dividend. The ex-dividend date was Tuesday, February 10th. This is an increase from Southern Copper’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.4%. Southern Copper’s dividend payout ratio (DPR) is currently 75.19%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SCCO shares. Wells Fargo & Company set a $190.38 price objective on Southern Copper and gave the stock an “equal weight” rating in a research report on Thursday, January 29th. Bank of America lowered Southern Copper from a “neutral” rating to an “underperform” rating and upped their target price for the company from $162.00 to $175.00 in a research report on Thursday, February 26th. UBS Group reiterated a “sell” rating and issued a $148.74 price target (up from $146.75) on shares of Southern Copper in a research note on Tuesday, February 3rd. Zacks Research downgraded Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Finally, Scotiabank restated an “underperform” rating on shares of Southern Copper in a research note on Tuesday, January 27th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and eight have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $139.99.

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.