Cyndeo Wealth Partners LLC Invests $213,000 in Southern Copper Corporation $SCCO

Key Points

• Cyndeo Wealth Partners LLC has invested $213,000 in Southern Copper Corporation (SCCO), acquiring 2,109 shares according to their recent SEC filing.
• Southern Copper's stock has received mixed analyst ratings, with two holding a "Buy," six a "Hold," and three a "Sell," while Jefferies set a price target of $155.00.
• The company recently increased its quarterly dividend to $1.01, yielding 3.2%, up from its previous dividend of $0.62.

Cyndeo Wealth Partners LLC acquired a new position in Southern Copper Corporation (NYSE:SCCO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,109 shares of the basic materials company's stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Ramirez Asset Management Inc. lifted its stake in shares of Southern Copper by 12.6% in the second quarter. Ramirez Asset Management Inc. now owns 45,318 shares of the basic materials company's stock worth $4,585,000 after buying an additional 5,057 shares during the last quarter. Callan Family Office LLC acquired a new stake in shares of Southern Copper in the second quarter worth $245,000. Leo Wealth LLC acquired a new stake in shares of Southern Copper in the second quarter worth $226,000. Independent Solutions Wealth Management LLC lifted its stake in shares of Southern Copper by 1.1% in the second quarter. Independent Solutions Wealth Management LLC now owns 22,938 shares of the basic materials company's stock worth $2,321,000 after buying an additional 255 shares during the last quarter. Finally, KLP Kapitalforvaltning AS lifted its stake in shares of Southern Copper by 1.0% in the second quarter. KLP Kapitalforvaltning AS now owns 36,537 shares of the basic materials company's stock worth $3,696,000 after buying an additional 357 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 414 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $100.00, for a total value of $41,400.00. Following the completion of the transaction, the director owned 2,327 shares in the company, valued at approximately $232,700. This represents a 15.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 1,228 shares of company stock valued at $123,102. Corporate insiders own 0.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Jefferies Financial Group set a $155.00 price objective on shares of Southern Copper and gave the stock a "buy" rating in a research note on Monday, October 6th. UBS Group reiterated a "buy" rating on shares of Southern Copper in a research note on Friday, September 19th. Citigroup reiterated a "sell" rating and set a $108.00 target price (up from $89.10) on shares of Southern Copper in a research note on Wednesday. Weiss Ratings reiterated a "buy (b-)" rating on shares of Southern Copper in a research note on Wednesday. Finally, Wells Fargo & Company upgraded shares of Southern Copper to a "hold" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $109.88.

Southern Copper Trading Down 4.3%

Shares of SCCO stock opened at $125.00 on Friday. Southern Copper Corporation has a 52-week low of $74.84 and a 52-week high of $136.49. The stock has a market cap of $100.51 billion, a price-to-earnings ratio of 27.35, a P/E/G ratio of 1.26 and a beta of 1.02. 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 firm has a fifty day moving average of $106.49 and a 200-day moving average of $97.97.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 15th were paid a $1.01 dividend. The ex-dividend date was Friday, August 15th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.2%. This is a positive change from Southern Copper's previous quarterly dividend of $0.62. Southern Copper's dividend payout ratio is currently 70.02%.

Southern Copper 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.

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