Marshall Financial Group LLC Sells 4,125 Shares of Southern Copper Corporation $SCCO

Marshall Financial Group LLC reduced its stake in Southern Copper Corporation (NYSE:SCCO) by 17.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,300 shares of the basic materials company’s stock after selling 4,125 shares during the period. Marshall Financial Group LLC’s holdings in Southern Copper were worth $2,769,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SCCO. MJT & Associates Financial Advisory Group Inc. boosted its holdings in shares of Southern Copper by 65.1% in the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 84 shares during the period. Covestor Ltd increased its holdings in Southern Copper by 30.4% during the 3rd quarter. Covestor Ltd now owns 360 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 84 shares during the period. Avanza Fonder AB increased its holdings in Southern Copper by 1.0% during the 3rd quarter. Avanza Fonder AB now owns 8,663 shares of the basic materials company’s stock worth $1,051,000 after purchasing an additional 86 shares during the period. Redwood Wealth Management Group LLC raised its position in Southern Copper by 1.5% during the 3rd quarter. Redwood Wealth Management Group LLC now owns 5,999 shares of the basic materials company’s stock valued at $728,000 after purchasing an additional 89 shares in the last quarter. Finally, Powell Investment Advisors LLC raised its position in Southern Copper by 1.0% during the 3rd quarter. Powell Investment Advisors LLC now owns 9,637 shares of the basic materials company’s stock valued at $1,170,000 after purchasing an additional 96 shares in the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Trading Down 4.6%

Shares of NYSE:SCCO opened at $152.41 on Monday. Southern Copper Corporation has a 12-month low of $74.84 and a 12-month high of $223.88. The business’s fifty day simple moving average is $191.39 and its 200-day simple moving average is $152.05. The company has a market capitalization of $124.84 billion, a PE ratio of 28.65, a P/E/G ratio of 1.58 and a beta of 1.03. The company has a current ratio of 3.89, a quick ratio of 3.40 and a debt-to-equity ratio of 0.61.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Wednesday, January 28th. The basic materials company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Southern Copper had a return on equity of 41.97% and a net margin of 32.30%.The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the prior year, the business posted $0.98 EPS. As a group, equities research analysts predict that Southern Copper Corporation will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 10th were issued a $1.00 dividend. This is a boost from Southern Copper’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Tuesday, February 10th. Southern Copper’s dividend payout ratio is presently 75.19%.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SCCO. Weiss Ratings reissued a “buy (b)” rating on shares of Southern Copper in a research report on Monday, December 29th. UBS Group restated a “sell” rating and issued a $148.74 price objective (up from $146.75) on shares of Southern Copper in a report on Tuesday, February 3rd. Morgan Stanley reaffirmed an “underweight” rating and issued a $154.69 price objective on shares of Southern Copper in a research note on Friday, January 30th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $116.51 target price (down from $118.49) on shares of Southern Copper in a report on Friday, January 23rd. Finally, Bank of America downgraded shares of Southern Copper from a “neutral” rating to an “underperform” rating and raised their target price for the company from $162.00 to $175.00 in a research report on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat, Southern Copper presently has an average rating of “Reduce” and a consensus price target 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.