Independent Solutions Wealth Management LLC Increases Stock Position in Southern Copper Corporation $SCCO

Independent Solutions Wealth Management LLC grew its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,938 shares of the basic materials company’s stock after acquiring an additional 255 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Southern Copper were worth $2,321,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. boosted its position in shares of Southern Copper by 117.6% in the first quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 147 shares during the period. Golden State Wealth Management LLC purchased a new stake in Southern Copper in the first quarter valued at approximately $29,000. N.E.W. Advisory Services LLC bought a new position in shares of Southern Copper in the 1st quarter worth $34,000. Quarry LP purchased a new stake in shares of Southern Copper during the 1st quarter valued at $41,000. Finally, Hilltop National Bank bought a new stake in shares of Southern Copper during the 2nd quarter worth $53,000. Institutional investors own 7.94% of the company’s stock.

Insider Activity at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $100.00, for a total value of $41,400.00. Following the transaction, the director owned 2,327 shares of the company’s stock, valued at $232,700. This represents a 15.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 1,228 shares of company stock worth $123,102. 0.07% of the stock is currently owned by insiders.

Southern Copper Price Performance

NYSE SCCO opened at $130.30 on Tuesday. Southern Copper Corporation has a fifty-two week low of $74.84 and a fifty-two week high of $133.25. 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 $104.77 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02. The business’s fifty day moving average is $103.65 and its 200 day moving average is $97.14.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.1%. The ex-dividend date was Friday, August 15th. This is a boost from Southern Copper’s previous quarterly dividend of $0.62. Southern Copper’s payout ratio is currently 70.02%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. The Goldman Sachs Group set a $89.00 target price on Southern Copper and gave the stock a “sell” rating in a research report on Wednesday, September 17th. Morgan Stanley reaffirmed an “underweight” rating and set a $99.00 price objective (up from $86.00) on shares of Southern Copper in a research note on Tuesday, July 15th. UBS Group reissued a “buy” rating on shares of Southern Copper in a research note on Friday, September 19th. 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. Finally, Itau BBA Securities upgraded shares of Southern Copper from an “underperform” rating to a “market perform” rating in a report on Wednesday, June 11th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $102.83.

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.