Drucker Wealth 3.0 LLC Buys New Position in Southern Copper Corporation $SCCO

Key Points

• Drucker Wealth 3.0 LLC has acquired 9,535 shares of Southern Copper Corporation, amounting to approximately $953,000, indicating new institutional interest in the company during Q2.
• Several analysts have provided mixed ratings on Southern Copper, with a price target ranging from $108.00 to $155.00, reflecting differing views on the stock's potential performance.
• Southern Copper recently increased its quarterly dividend to $1.01 per share, up from $0.62, showcasing a commitment to returning value to shareholders with a current dividend yield of 3.2%.

Drucker Wealth 3.0 LLC purchased a new position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 9,535 shares of the basic materials company's stock, valued at approximately $953,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Generali Investments CEE investicni spolecnost a.s. boosted its stake in Southern Copper by 0.7% during the first quarter. Generali Investments CEE investicni spolecnost a.s. now owns 15,077 shares of the basic materials company's stock worth $1,409,000 after acquiring an additional 108 shares in the last quarter. American Financial Advisors LLC boosted its position in shares of Southern Copper by 1.1% during the 2nd quarter. American Financial Advisors LLC now owns 10,422 shares of the basic materials company's stock worth $1,054,000 after purchasing an additional 112 shares in the last quarter. PDS Planning Inc boosted its position in shares of Southern Copper by 3.7% during the 2nd quarter. PDS Planning Inc now owns 3,330 shares of the basic materials company's stock worth $337,000 after purchasing an additional 119 shares in the last quarter. IFM Investors Pty Ltd boosted its position in shares of Southern Copper by 1.0% during the 2nd quarter. IFM Investors Pty Ltd now owns 12,725 shares of the basic materials company's stock worth $1,287,000 after purchasing an additional 124 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI boosted its position in shares of Southern Copper by 0.7% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 17,331 shares of the basic materials company's stock worth $1,620,000 after purchasing an additional 125 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Jefferies Financial Group set a $155.00 price target on Southern Copper and gave the stock a "buy" rating in a report on Monday. Wells Fargo & Company upgraded Southern Copper to a "hold" rating in a report on Wednesday. Morgan Stanley set a $132.00 target price on Southern Copper and gave the stock an "equal weight" rating in a report on Wednesday. Citigroup reiterated a "sell" rating and issued a $108.00 target price (up from $89.10) on shares of Southern Copper in a report on Wednesday. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Southern Copper in a research note on Wednesday. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $109.88.

Insider Activity at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of Southern Copper stock in a transaction that occurred on Friday, August 8th. The shares were 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 of the company's stock, valued at $232,700. This trade represents a 15.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 1,228 shares of company stock worth $123,102. 0.07% of the stock is owned by company insiders.

Southern Copper Stock Down 4.3%

SCCO stock opened at $125.00 on Friday. 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 is $106.49 and its 200-day moving average is $97.97. Southern Copper Corporation has a twelve month low of $74.84 and a twelve month high of $136.49. The firm has a market capitalization of $100.51 billion, a PE ratio of 27.35, a P/E/G ratio of 1.31 and a beta of 1.02.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Friday, August 15th. This is an increase from Southern Copper's previous quarterly dividend of $0.62. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.2%. Southern Copper's payout ratio is 70.02%.

About Southern Copper

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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