Southern Copper Corporation $SCCO is Klein Pavlis & Peasley Financial Inc.'s 9th Largest Position

Key Points

• Klein Pavlis & Peasley Financial Inc. cut its Southern Copper stake by 33.1% in Q1, but SCCO still represented its 9th-largest holding at 2.7% of the portfolio, worth about $4.86 million.
• Wall Street sentiment remains cautious: the stock carries a consensus “Reduce” rating, with 2 Buy, 4 Hold, and 8 Sell ratings and an average price target of $145.94.
• Southern Copper continues to return cash to shareholders, recently paying a quarterly dividend of $1.00 per share, or $4.00 annualized, for a yield of 2.4%.

Klein Pavlis & Peasley Financial Inc. lowered its holdings in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 33.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,233 shares of the basic materials company's stock after selling 13,978 shares during the period. Southern Copper accounts for 2.7% of Klein Pavlis & Peasley Financial Inc.'s investment portfolio, making the stock its 9th largest holding. Klein Pavlis & Peasley Financial Inc.'s holdings in Southern Copper were worth $4,858,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SCCO. Capital World Investors raised its holdings in shares of Southern Copper by 36.1% in the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company's stock valued at $781,268,000 after buying an additional 1,708,693 shares during the last quarter. State Street Corp boosted its stake in shares of Southern Copper by 2.4% during the fourth quarter. State Street Corp now owns 2,862,244 shares of the basic materials company's stock worth $410,646,000 after buying an additional 66,268 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Southern Copper by 0.3% during the fourth quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company's stock worth $363,873,000 after buying an additional 7,194 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Southern Copper by 8.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,181,293 shares of the basic materials company's stock worth $169,480,000 after buying an additional 90,237 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Southern Copper by 12.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,091,632 shares of the basic materials company's stock valued at $132,479,000 after acquiring an additional 123,532 shares during the period. 7.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SCCO shares. Wall Street Zen raised Southern Copper from a "hold" rating to a "buy" rating in a research report on Saturday. JPMorgan Chase & Co. boosted their target price on Southern Copper from $127.00 to $131.50 and gave the company an "underweight" rating in a report on Wednesday, June 17th. The Goldman Sachs Group upgraded Southern Copper from a "sell" rating to a "neutral" rating and set a $178.00 price target for the company in a research note on Friday, April 10th. Morgan Stanley increased their price target on Southern Copper from $155.00 to $160.00 and gave the stock an "underweight" rating in a report on Thursday, April 9th. Finally, Barclays assumed coverage on shares of Southern Copper in a research report on Thursday, May 21st. They issued an "underweight" rating and a $148.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have given a Sell rating to the company's stock. According to MarketBeat.com, Southern Copper has a consensus rating of "Reduce" and an average price target of $145.94.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the sale, the director owned 1,807 shares of the company's stock, valued at $321,320.74. The trade was a 9.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 404 shares of company stock worth $74,108. 0.07% of the stock is currently owned by company insiders.

Southern Copper Stock Performance

Shares of SCCO opened at $168.05 on Tuesday. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. Southern Copper Corporation has a 52-week low of $88.73 and a 52-week high of $223.88. The company has a 50-day simple moving average of $182.93 and a 200-day simple moving average of $179.30. The company has a market capitalization of $138.82 billion, a PE ratio of 27.78, a P/E/G ratio of 1.54 and a beta of 1.09.

Southern Copper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were issued a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $4.00 dividend on an annualized basis and a yield of 2.4%. Southern Copper's dividend payout ratio (DPR) is 66.12%.

Southern Copper 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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