Abich Financial Wealth Management LLC Invests $448,000 in Southern Copper Corporation $SCCO

Abich Financial Wealth Management LLC purchased a new stake in shares of Southern Copper Corporation (NYSE:SCCO) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,695 shares of the basic materials company’s stock, valued at approximately $448,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hopwood Financial Services Inc. bought a new stake in Southern Copper during the third quarter valued at approximately $25,000. MJT & Associates Financial Advisory Group Inc. grew its position in shares of 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 worth $26,000 after purchasing an additional 84 shares in the last quarter. United Community Bank bought a new stake in shares of Southern Copper during the third quarter valued at approximately $30,000. Tobam bought a new stake in Southern Copper in the 2nd quarter valued at $29,000. Finally, Westside Investment Management Inc. purchased a new stake in Southern Copper in the 2nd quarter worth $32,000. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Southern Copper news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of Southern Copper stock in a transaction that occurred on 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 directly owned 605 shares in the company, valued at approximately $126,783.04. The trade was a 93.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Bonilla Luis Miguel Palomino sold 403 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $137.83, for a total value of $55,544.87. Following the sale, the director directly owned 1,275 shares in the company, valued at $175,731.28. This represents a 24.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a research note on Monday, December 29th. Itau BBA Securities lowered shares of Southern Copper from a “market perform” rating to an “underperform” rating and set a $124.94 price objective for the company. in a research note on Monday, December 22nd. The Goldman Sachs Group reissued a “sell” rating and issued a $127.91 target price on shares of Southern Copper in a research note on Wednesday, January 14th. UBS Group restated a “sell” rating and issued a $148.74 target price (up previously from $146.75) on shares of Southern Copper in a report on Tuesday, February 3rd. Finally, Zacks Research downgraded shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat, Southern Copper presently has an average rating of “Reduce” and an average target price of $136.49.

Southern Copper Stock Performance

Shares of SCCO opened at $197.72 on Friday. The stock has a fifty day moving average price of $167.28 and a 200-day moving average price of $133.66. 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 Corporation has a 12 month low of $74.84 and a 12 month high of $218.81. The firm has a market cap of $160.59 billion, a PE ratio of 37.17, a P/E/G ratio of 1.70 and a beta of 1.07.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 10th will be issued a $1.00 dividend. 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 of this dividend is Tuesday, February 10th. Southern Copper’s dividend payout ratio is 75.19%.

Southern Copper Company 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.