GoalVest Advisory LLC Has $1.84 Million Stock Position in Southern Copper Corporation $SCCO

GoalVest Advisory LLC lifted its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,212 shares of the basic materials company’s stock after acquiring an additional 167 shares during the quarter. GoalVest Advisory LLC’s holdings in Southern Copper were worth $1,843,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Cullen Frost Bankers Inc. lifted its position in shares of Southern Copper by 117.6% during the 1st quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 147 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Southern Copper in the 1st quarter valued at approximately $29,000. N.E.W. Advisory Services LLC acquired a new position in Southern Copper in the 1st quarter valued at approximately $34,000. Quarry LP acquired a new position in shares of Southern Copper in the 1st quarter worth approximately $41,000. Finally, Hilltop National Bank acquired a new position in shares of Southern Copper in the 2nd quarter worth approximately $53,000. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

SCCO stock opened at $129.41 on Monday. The business’s 50-day moving average price is $113.27 and its two-hundred day moving average price is $101.14. 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 firm has a market cap of $104.05 billion, a PE ratio of 28.32, a P/E/G ratio of 1.21 and a beta of 1.02. Southern Copper Corporation has a 1-year low of $74.84 and a 1-year high of $136.49.

Southern Copper Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.90 per share. The ex-dividend date is Wednesday, November 12th. This represents a $3.60 annualized dividend and a yield of 2.8%. Southern Copper’s payout ratio is currently 70.02%.

Analyst Upgrades and Downgrades

SCCO has been the topic of a number of research analyst reports. Morgan Stanley set a $132.00 price target on Southern Copper and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. HSBC reiterated a “hold” rating and issued a $118.00 price objective (up from $105.00) on shares of Southern Copper in a research report on Friday, October 17th. Jefferies Financial Group set a $155.00 price target on Southern Copper and gave the stock a “buy” rating in a research report on Monday, October 6th. UBS Group restated a “buy” rating on shares of Southern Copper in a research report on Friday, September 19th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Southern Copper in a research report on Saturday. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $110.78.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of Southern Copper 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 transaction, the director directly owned 2,327 shares in the company, valued at approximately $232,700. The trade was a 15.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 1,228 shares of company stock worth $123,102 in the last 90 days. Insiders own 0.07% of the company’s stock.

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.