Pring Turner Capital Group Inc. Buys Shares of 25,501 Southern Copper Corporation $SCCO

Pring Turner Capital Group Inc. purchased a new position in Southern Copper Corporation (NYSE:SCCO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,501 shares of the basic materials company’s stock, valued at approximately $3,095,000. Southern Copper makes up about 1.9% of Pring Turner Capital Group Inc.’s holdings, making the stock its 25th biggest position.

Other hedge funds also recently bought and sold shares of the company. Hopwood Financial Services Inc. bought a new position in shares of Southern Copper in the third quarter worth $25,000. MJT & Associates Financial Advisory Group Inc. boosted its stake in Southern Copper by 65.1% during 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 buying an additional 84 shares during the period. Tobam bought a new position in Southern Copper in the 2nd quarter worth about $29,000. United Community Bank purchased a new stake in shares of Southern Copper in the 3rd quarter valued at about $30,000. Finally, Westside Investment Management Inc. bought a new stake in shares of Southern Copper during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Insider Activity

In related news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $209.56, for a total value of $1,954,344.91. Following the completion of the sale, the director owned 605 shares of the company’s stock, valued at $126,783.04. This trade represents a 93.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bonilla Luis Miguel Palomino sold 403 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $137.83, for a total transaction of $55,544.87. Following the transaction, the director directly owned 1,275 shares in the company, valued at approximately $175,731.28. The trade was a 24.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.07% of the stock is owned by company insiders.

Southern Copper Stock Performance

Shares of SCCO stock opened at $198.03 on Tuesday. The company has a market capitalization of $160.84 billion, a P/E ratio of 37.22, a PEG ratio of 1.63 and a beta of 1.06. Southern Copper Corporation has a fifty-two week low of $74.84 and a fifty-two week high of $218.81. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.91 and a current ratio of 4.52. The stock has a 50 day moving average price of $169.62 and a two-hundred day moving average price of $135.69.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th will be issued a dividend of $1.00 per share. 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 2.0%. The ex-dividend date is Tuesday, February 10th. Southern Copper’s dividend payout ratio (DPR) is currently 75.19%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SCCO shares. Itau BBA Securities downgraded shares of Southern Copper from a “market perform” rating to an “underperform” rating and set a $124.94 target price on the stock. in a research note on Monday, December 22nd. Zacks Research downgraded shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern Copper in a research report on Monday, December 29th. Scotiabank reaffirmed an “underperform” rating on shares of Southern Copper in a research note on Tuesday, January 27th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $127.91 price objective on shares of Southern Copper in a research report on Wednesday, January 14th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and seven have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $136.49.

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.