Savvy Advisors Inc. Makes New Investment in Southern Copper Corporation $SCCO

Key Points

• Savvy Advisors Inc. opened a new position in Southern Copper (NYSE:SCCO) in Q4, buying 9,992 shares valued at about $1.434 million.
• Insider selling has been notable: Director Lerdo De Tejada Leon Contreras sold 9,326 shares (~$1.95M) and insiders sold 9,526 shares worth $1.989M in the last 90 days, leaving insiders with just 0.07% ownership.
• Dividend raised to $1.00 per quarter (annualized $4.00), implying a 2.3% yield and a 75.19% payout ratio.

Savvy Advisors Inc. acquired a new position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,992 shares of the basic materials company's stock, valued at approximately $1,434,000.

Other institutional investors have also recently bought and sold shares of the company. Hopwood Financial Services Inc. acquired a new position in Southern Copper during the third quarter worth $25,000. MJT & Associates Financial Advisory Group Inc. raised its holdings in Southern Copper by 65.1% during the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company's stock worth $26,000 after buying an additional 84 shares during the last quarter. Caitlin John LLC acquired a new position in Southern Copper during the third quarter worth $30,000. United Community Bank acquired a new position in Southern Copper during the third quarter worth $30,000. Finally, Covestor Ltd raised its holdings in Southern Copper by 30.4% during the third quarter. Covestor Ltd now owns 360 shares of the basic materials company's stock worth $44,000 after buying an additional 84 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Insider Transactions at Southern Copper

In related news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the firm's stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total transaction of $1,954,344.91. Following the completion of the sale, the director owned 605 shares in the company, valued at approximately $126,783.04. This trade represents a 93.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bonilla Luis Miguel Palomino sold 193 shares of the firm's stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $174.60, for a total transaction of $33,697.80. Following the sale, the director owned 1,707 shares of the company's stock, valued at $298,042.20. This trade represents a 10.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,526 shares of company stock valued at $1,989,373 in the last 90 days. 0.07% of the stock is currently owned by corporate insiders.

Southern Copper Stock Performance

Shares of SCCO stock opened at $176.98 on Tuesday. The firm has a 50-day moving average of $188.80 and a 200-day moving average of $157.01. The company has a market cap of $144.96 billion, a P/E ratio of 33.27, a P/E/G ratio of 1.84 and a beta of 1.16. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.89 and a quick ratio of 3.40. Southern Copper Corporation has a one year low of $74.84 and a one year high of $223.88.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The basic materials company reported $1.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.01. Southern Copper had a net margin of 32.30% and a return on equity of 41.97%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter last year, the company posted $0.98 earnings per share. Equities research analysts forecast that Southern Copper Corporation will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 10th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. This is a boost from Southern Copper's previous quarterly dividend of $0.90. The ex-dividend date was Tuesday, February 10th. Southern Copper's dividend payout ratio is 75.19%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of Southern Copper from a "hold" rating to a "buy" rating in a report on Saturday, March 21st. Itau BBA Securities downgraded shares of Southern Copper from a "market perform" rating to an "underperform" rating and set a $124.94 target price for the company. in a report on Monday, December 22nd. Scotiabank reiterated an "underperform" rating on shares of Southern Copper in a report on Tuesday, January 27th. Wells Fargo & Company set a $190.38 target price on shares of Southern Copper and gave the company an "equal weight" rating in a report on Thursday, January 29th. Finally, UBS Group lowered their target price on shares of Southern Copper from $150.00 to $140.00 and set a "sell" rating for the company in a report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and eight have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $139.20.

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.

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