GoalVest Advisory LLC Purchases 167 Shares of Southern Copper Corporation $SCCO

GoalVest Advisory LLC grew its position in Southern Copper Corporation (NYSE:SCCO) by 0.9% during the second quarter, HoldingsChannel.com reports. The firm owned 18,212 shares of the basic materials company’s stock after buying 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 SEC filing.

A number of other institutional investors also recently modified their holdings of SCCO. Jacobs Levy Equity Management Inc. bought a new stake in shares of Southern Copper in the first quarter valued at about $40,338,000. Nuveen LLC bought a new stake in shares of Southern Copper in the first quarter valued at about $34,086,000. JPMorgan Chase & Co. raised its holdings in Southern Copper by 26.3% during the first quarter. JPMorgan Chase & Co. now owns 1,551,878 shares of the basic materials company’s stock worth $145,039,000 after acquiring an additional 322,935 shares in the last quarter. Jennison Associates LLC bought a new stake in Southern Copper during the first quarter worth about $25,739,000. Finally, Strs Ohio bought a new stake in Southern Copper during the first quarter worth about $15,382,000. 7.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SCCO shares. JPMorgan Chase & Co. upped their target price on Southern Copper from $79.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, September 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Southern Copper in a report on Saturday. Morgan Stanley set a $132.00 target price on Southern Copper and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. Wells Fargo & Company upgraded Southern Copper to a “hold” rating in a report on Wednesday, October 8th. Finally, Citigroup reiterated a “sell” rating and set a $108.00 target price (up previously from $89.10) on shares of Southern Copper in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $110.78.

Southern Copper Price Performance

NYSE:SCCO opened at $129.41 on Monday. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.67. The stock’s 50 day moving average price is $113.27 and its two-hundred day moving average price is $101.14. The firm has a market capitalization of $104.05 billion, a price-to-earnings ratio of 28.32, a P/E/G ratio of 1.21 and a beta of 1.02. Southern Copper Corporation has a 12-month low of $74.84 and a 12-month high of $136.49.

Southern Copper Cuts Dividend

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

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 414 shares of the stock in a transaction that occurred on 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 1,228 shares of company stock worth $123,102 in the last 90 days. 0.07% of the stock is currently owned by company 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.