Kesler Norman & Wride LLC Purchases Shares of 4,186 Southern Copper Corporation $SCCO

Kesler Norman & Wride LLC acquired a new position in Southern Copper Corporation (NYSE:SCCO) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,186 shares of the basic materials company’s stock, valued at approximately $508,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. increased its holdings in Southern Copper by 65.1% in the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock worth $26,000 after buying an additional 84 shares during the period. Avanza Fonder AB boosted its holdings in shares of Southern Copper by 1.0% in the 3rd quarter. Avanza Fonder AB now owns 8,663 shares of the basic materials company’s stock valued at $1,051,000 after acquiring an additional 86 shares during the last quarter. Vontobel Holding Ltd. increased its stake in shares of Southern Copper by 2.4% in the third quarter. Vontobel Holding Ltd. now owns 4,510 shares of the basic materials company’s stock worth $547,000 after acquiring an additional 107 shares during the period. American Financial Advisors LLC raised its holdings in shares of Southern Copper by 1.1% during the second quarter. American Financial Advisors LLC now owns 10,422 shares of the basic materials company’s stock worth $1,054,000 after purchasing an additional 112 shares during the last quarter. Finally, Mutual Advisors LLC raised its holdings in shares of Southern Copper by 1.7% during the second quarter. Mutual Advisors LLC now owns 6,577 shares of the basic materials company’s stock worth $646,000 after purchasing an additional 113 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 400 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $139.00, for a total transaction of $55,600.00. Following the completion of the sale, the director owned 1,265 shares of the company’s stock, valued at $175,835. The trade was a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 948 shares of company stock valued at $131,130 in the last quarter. 0.07% of the stock is owned by company insiders.

Southern Copper Stock Up 6.2%

Shares of SCCO opened at $170.55 on Friday. The firm has a market cap of $138.52 billion, a P/E ratio of 35.75, a PEG ratio of 1.44 and a beta of 1.06. Southern Copper Corporation has a 12 month low of $74.84 and a 12 month high of $171.08. The stock’s 50 day moving average is $140.40 and its two-hundred day moving average is $119.82. The company has a current ratio of 4.52, a quick ratio of 3.91 and a debt-to-equity ratio of 0.64.

Southern Copper (NYSE:SCCO) last announced its earnings results on Friday, October 31st. The basic materials company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.09. Southern Copper had a return on equity of 38.74% and a net margin of 30.98%.The business had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.05 billion. Analysts predict that Southern Copper Corporation will post 4.66 earnings per share for the current fiscal year.

Southern Copper Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Wednesday, November 12th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, November 12th. Southern Copper’s dividend payout ratio (DPR) is presently 75.47%.

Analysts Set New Price Targets

Several brokerages have weighed in on SCCO. JPMorgan Chase & Co. increased their price target on Southern Copper from $114.50 to $119.50 and gave the stock a “neutral” rating in a research report on Thursday, December 18th. Morgan Stanley set a $138.00 target price on Southern Copper and gave the stock an “underweight” rating in a research note on Monday, December 15th. Wall Street Zen lowered Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday. The Goldman Sachs Group reissued a “sell” rating and issued a $115.00 price target (up from $89.00) on shares of Southern Copper in a report on Wednesday, October 29th. Finally, HSBC reaffirmed a “hold” rating and set a $118.00 price objective (up previously from $105.00) on shares of Southern Copper in a research note on Friday, October 17th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $123.85.

Southern Copper 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.