Southern Copper Corporation $SCCO Shares Newly Acquired by Walser Wealth Management Company A Ltd Liability Co

Key Points

• Walser Wealth Management acquired 6,863 Southern Copper shares worth approximately $1.39 million in the third quarter. Other institutional investors also increased or initiated positions, while institutions collectively own 7.94% of the stock.
• Southern Copper reported quarterly EPS of $1.99, exceeding estimates of $1.93, while revenue rose 40.6% year over year to $4.29 billion, slightly below expectations.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a consensus price target of $156.02, well below its reported market price of about $201.87.

Walser Wealth Management Company A Ltd Liability Co purchased a new position in Southern Copper Corporation (NYSE:SCCO - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 6,863 shares of the basic materials company's stock, valued at approximately $1,391,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Davidson Capital Management Inc. boosted its stake in Southern Copper by 2.2% during the 3rd quarter. Davidson Capital Management Inc. now owns 34,705 shares of the basic materials company's stock valued at $7,033,000 after purchasing an additional 747 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Southern Copper by 1,525.6% in the third quarter. Fortitude Family Office LLC now owns 634 shares of the basic materials company's stock valued at $128,000 after buying an additional 595 shares during the period. Focus Financial Network Inc. boosted its stake in Southern Copper by 1.0% during the third quarter. Focus Financial Network Inc. now owns 5,076 shares of the basic materials company's stock valued at $1,029,000 after buying an additional 52 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Southern Copper during the third quarter valued at about $239,000. Finally, Financial Futures Ltd Liability Co. bought a new position in Southern Copper during the third quarter valued at about $222,000. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Performance

SCCO opened at $201.87 on Friday. The company has a quick ratio of 4.56, a current ratio of 5.06 and a debt-to-equity ratio of 0.63. The firm has a market cap of $168.43 billion, a PE ratio of 29.34, a P/E/G ratio of 1.77 and a beta of 1.11. The business has a fifty day simple moving average of $201.24 and a 200-day simple moving average of $187.25. Southern Copper Corporation has a fifty-two week low of $119.25 and a fifty-two week high of $223.88.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.06. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%. The company had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.37 billion. Southern Copper's revenue for the quarter was up 40.6% compared to the same quarter last year. As a group, equities analysts predict that Southern Copper Corporation will post 7.94 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Luis Palomino Bonilla sold 202 shares of Southern Copper stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total value of $39,751.28. Following the transaction, the director owned 1,723 shares of the company's stock, valued at approximately $339,066.65. This trade represents a 10.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 704 shares of company stock valued at $138,077. Company insiders own 0.07% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Zacks Research lowered Southern Copper from a "strong-buy" rating to a "hold" rating in a report on Friday, August 7th. Barclays set a $164.03 price objective on shares of Southern Copper and gave the stock an "underweight" rating in a research note on Thursday, July 23rd. CICC Research downgraded shares of Southern Copper to a "market perform" rating in a report on Sunday, July 26th. Morgan Stanley reiterated an "underweight" rating and issued a $170.00 target price on shares of Southern Copper in a report on Wednesday, October 7th. Finally, Citigroup reissued a "positive" rating on shares of Southern Copper in a research note on Wednesday, July 15th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat, Southern Copper has an average rating of "Reduce" and an average target price of $156.02.

Southern Copper Profile

Southern Copper Corp. is an integrated copper producer engaged in the exploration, mining, processing, smelting and refining of copper and other minerals. Its principal products include copper cathodes, copper concentrates, molybdenum, zinc, silver and lead. The company also produces sulfuric acid and other byproducts through its metallurgical operations.

Southern Copper operates major mining and processing assets in Mexico and Peru. Its Mexican operations include the Buenavista del Cobre and La Caridad mining complexes, while its Peruvian operations include the Cuajone and Toquepala mines.

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