Southern Copper Corporation $SCCO Shares Purchased by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. grew its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 8.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,664 shares of the basic materials company’s stock after buying an additional 287 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Southern Copper were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Focus Partners Wealth raised its holdings in Southern Copper by 21.5% during the first quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company’s stock worth $556,000 after purchasing an additional 1,052 shares in the last quarter. Flaharty Asset Management LLC increased its position in shares of Southern Copper by 48.9% during the 1st quarter. Flaharty Asset Management LLC now owns 4,019 shares of the basic materials company’s stock valued at $376,000 after purchasing an additional 1,319 shares during the period. Bayforest Capital Ltd raised its stake in shares of Southern Copper by 669.1% in the 1st quarter. Bayforest Capital Ltd now owns 6,068 shares of the basic materials company’s stock worth $567,000 after buying an additional 5,279 shares in the last quarter. Alaethes Wealth LLC raised its stake in shares of Southern Copper by 28.2% in the 1st quarter. Alaethes Wealth LLC now owns 14,357 shares of the basic materials company’s stock worth $1,342,000 after buying an additional 3,161 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI lifted its holdings in shares of Southern Copper by 0.7% in the first quarter. Zurich Insurance Group Ltd FI now owns 17,331 shares of the basic materials company’s stock valued at $1,620,000 after buying an additional 125 shares during the period. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Up 3.4%

Shares of SCCO stock opened at $109.74 on Tuesday. The stock’s 50 day simple moving average is $98.22 and its 200 day simple moving average is $94.62. Southern Copper Corporation has a twelve month low of $74.84 and a twelve month high of $121.44. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.51 and a current ratio of 5.27. The company has a market capitalization of $88.24 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 1.57 and a beta of 0.99.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 15th were paid a $1.01 dividend. The ex-dividend date was Friday, August 15th. This is a boost from Southern Copper’s previous quarterly dividend of $0.62. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.7%. Southern Copper’s dividend payout ratio is presently 70.02%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SCCO shares. Wall Street Zen lowered Southern Copper from a “buy” rating to a “hold” rating in a report on Tuesday, May 20th. Morgan Stanley reaffirmed an “underweight” rating and issued a $99.00 price objective (up previously from $86.00) on shares of Southern Copper in a research note on Tuesday, July 15th. Itau BBA Securities raised shares of Southern Copper from an “underperform” rating to a “market perform” rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. lifted their price target on shares of Southern Copper from $79.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Finally, UBS Group cut Southern Copper from a “buy” rating to a “neutral” rating and set a $105.00 price target on the stock. in a report on Tuesday, July 1st. Four analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Southern Copper has an average rating of “Reduce” and an average target price of $93.60.

Insider Activity at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $100.00, for a total transaction of $41,400.00. Following the completion of the transaction, the director owned 2,327 shares of the company’s stock, valued at approximately $232,700. The trade was a 15.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 1,228 shares of company stock valued at $123,102 in the last 90 days. Insiders own 0.07% of the company’s stock.

About Southern Copper

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.