Larry Mathis Financial Planning LLC Makes New $535,000 Investment in Southern Copper Corporation $SCCO

Larry Mathis Financial Planning LLC acquired a new position in Southern Copper Corporation (NYSE:SCCO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,727 shares of the basic materials company’s stock, valued at approximately $535,000.

Several other large investors have also modified their holdings of the business. Capital World Investors lifted its stake in shares of Southern Copper by 36.1% during the 3rd quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock worth $781,268,000 after acquiring an additional 1,708,693 shares during the last quarter. Norges Bank purchased a new position in Southern Copper during the 4th quarter valued at $97,645,000. Capital Research Global Investors purchased a new position in Southern Copper during the 4th quarter valued at $81,039,000. Arrowstreet Capital Limited Partnership bought a new position in Southern Copper in the 4th quarter valued at $46,560,000. Finally, USS Investment Management Ltd grew its position in Southern Copper by 904.8% in the 4th quarter. USS Investment Management Ltd now owns 301,655 shares of the basic materials company’s stock valued at $43,272,000 after acquiring an additional 271,634 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Up 0.0%

SCCO opened at $192.98 on Friday. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. The stock’s fifty day moving average is $184.81 and its two-hundred day moving average is $177.41. The company has a market capitalization of $159.41 billion, a P/E ratio of 31.90, a PEG ratio of 1.79 and a beta of 1.09. Southern Copper Corporation has a 52 week low of $88.73 and a 52 week high of $223.88.

Southern Copper Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SCCO shares. Bank of America downgraded Southern Copper from a “neutral” rating to an “underperform” rating and lifted their target price for the stock from $162.00 to $175.00 in a research report on Thursday, February 26th. UBS Group upped their price target on shares of Southern Copper from $140.00 to $145.00 and gave the stock a “sell” rating in a report on Thursday, May 21st. Wells Fargo & Company set a $171.00 price target on shares of Southern Copper and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Southern Copper in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $145.94.

Insider Activity at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the sale, the director directly owned 1,807 shares in the company, valued at $321,320.74. The trade was a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 404 shares of company stock worth $74,108 in the last 90 days. Company insiders own 0.07% of the company’s stock.

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.