Larry Mathis Financial Planning LLC Takes Position in Southern Copper Corporation $SCCO

Larry Mathis Financial Planning LLC bought a new position in Southern Copper Corporation (NYSE:SCCO) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,727 shares of the basic materials company’s stock, valued at approximately $535,000.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in Southern Copper by 42.1% during the 1st quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company’s stock valued at $4,194,000 after buying an additional 13,293 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Southern Copper by 17.9% during the 1st quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company’s stock worth $627,000 after acquiring an additional 1,020 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Southern Copper by 21.5% during the 1st quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company’s stock worth $556,000 after acquiring an additional 1,052 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Southern Copper by 37.4% during the 2nd quarter. First Trust Advisors LP now owns 73,379 shares of the basic materials company’s stock valued at $7,424,000 after acquiring an additional 19,957 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its position in shares of Southern Copper by 17.7% during the 2nd quarter. Baird Financial Group Inc. now owns 4,864 shares of the basic materials company’s stock valued at $492,000 after acquiring an additional 731 shares during the last quarter. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00. Following the completion of the transaction, the director directly owned 1,807 shares of the company’s stock, valued at $321,320.74. The trade was a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 404 shares of company stock worth $74,108 over the last ninety days. 0.07% of the stock is owned by insiders.

Southern Copper Price Performance

NYSE:SCCO opened at $192.98 on Friday. The firm has a market capitalization of $159.41 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 1.79 and a beta of 1.09. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. The business has a 50 day simple moving average of $184.81 and a 200-day simple moving average of $177.41. Southern Copper Corporation has a 1 year low of $88.73 and a 1 year high of $223.88.

Southern Copper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, May 13th. Southern Copper’s payout ratio is presently 66.12%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SCCO shares. UBS Group boosted their price target on shares of Southern Copper from $140.00 to $145.00 and gave the stock a “sell” rating in a research report on Thursday, May 21st. Bank of America downgraded shares of Southern Copper from a “neutral” rating to an “underperform” rating and upped their price target for the company from $162.00 to $175.00 in a research note on Thursday, February 26th. The Goldman Sachs Group upgraded shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective for the company in a research report on Friday, April 10th. JPMorgan Chase & Co. lifted their price objective on shares of Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company set a $171.00 target price on shares of Southern Copper and gave the stock an “equal weight” rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $145.94.

Southern Copper 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.