Southern Copper Corporation $SCCO Shares Sold by Godsey & Gibb Inc.

Godsey & Gibb Inc. lessened its stake in Southern Copper Corporation (NYSE:SCCO) by 37.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 267 shares of the basic materials company’s stock after selling 159 shares during the period. Godsey & Gibb Inc.’s holdings in Southern Copper were worth $27,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Cullen Frost Bankers Inc. grew its position in shares of Southern Copper by 117.6% in the first quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in Southern Copper in the first quarter valued at approximately $29,000. N.E.W. Advisory Services LLC acquired a new position in shares of Southern Copper during the first quarter worth about $34,000. Quarry LP purchased a new position in shares of Southern Copper in the first quarter valued at $41,000. Finally, Hilltop National Bank purchased a new stake in shares of Southern Copper during the second quarter worth about $53,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Jefferies Financial Group set a $155.00 price target on Southern Copper and gave the company a “buy” rating in a research report on Monday. Weiss Ratings restated a “buy (b-)” rating on shares of Southern Copper in a research report on Saturday, September 27th. Morgan Stanley restated an “underweight” rating and set a $99.00 price target (up previously from $86.00) on shares of Southern Copper in a report on Tuesday, July 15th. Itau BBA Securities raised shares of Southern Copper from an “underperform” rating to a “market perform” rating in a research report on Wednesday, June 11th. Finally, UBS Group reaffirmed a “buy” rating on shares of Southern Copper in a research report on Friday, September 19th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $102.83.

Southern Copper Price Performance

SCCO stock opened at $130.30 on Tuesday. Southern Copper Corporation has a 1 year low of $74.84 and a 1 year high of $133.25. The company has a current ratio of 5.27, a quick ratio of 4.51 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $103.65 and a two-hundred day moving average price of $97.14. The stock has a market cap of $104.77 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 15th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, August 15th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.62. Southern Copper’s dividend payout ratio is currently 70.02%.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $100.00, for a total value of $41,400.00. Following the completion of the transaction, the director directly owned 2,327 shares in the company, valued at approximately $232,700. This trade represents a 15.10% 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. Insiders sold a total of 1,228 shares of company stock worth $123,102 over the last three months. 0.07% of the stock is currently owned by insiders.

Southern Copper Company Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.