Great Valley Advisor Group Inc. Sells 1,350 Shares of Southern Copper Co. (NYSE:SCCO)

Posted by Defense World Staff on Apr 20th, 2023

Great Valley Advisor Group Inc. cut its position in shares of Southern Copper Co. (NYSE:SCCO – Get Rating) by 27.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,500 shares of the basic materials company’s stock after selling 1,350 shares during the period. Great Valley Advisor Group Inc.’s holdings in Southern Copper were worth $211,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Accurate Wealth Management LLC acquired a new position in Southern Copper during the 4th quarter valued at about $25,000. Boyd Watterson Asset Management LLC OH acquired a new position in Southern Copper in the fourth quarter valued at approximately $25,000. Loomis Sayles & Co. L P acquired a new position in Southern Copper in the first quarter valued at approximately $29,000. Private Trust Co. NA acquired a new position in shares of Southern Copper during the 2nd quarter worth approximately $34,000. Finally, Fifth Third Bancorp raised its stake in shares of Southern Copper by 69.6% during the 3rd quarter. Fifth Third Bancorp now owns 782 shares of the basic materials company’s stock worth $35,000 after buying an additional 321 shares during the period. 7.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. StockNews.com assumed coverage on Southern Copper in a research report on Thursday, March 16th. They set a “buy” rating for the company. Citigroup upped their target price on Southern Copper from $40.00 to $60.00 in a report on Wednesday, January 11th. Deutsche Bank Aktiengesellschaft increased their price target on Southern Copper from $45.00 to $50.00 in a report on Tuesday, January 10th. Wolfe Research upgraded Southern Copper from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 11th. Finally, UBS Group increased their price target on Southern Copper from $48.00 to $51.00 and gave the stock a “sell” rating in a report on Thursday, February 23rd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Southern Copper presently has a consensus rating of “Hold” and a consensus price target of $60.14.

Southern Copper Price Performance

SCCO opened at $81.68 on Thursday. The company has a current ratio of 4.20, a quick ratio of 3.38 and a debt-to-equity ratio of 0.77. The firm has a market cap of $63.15 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 16.95 and a beta of 1.23. The stock’s 50-day moving average price is $74.50 and its 200 day moving average price is $65.42. Southern Copper Co. has a 12-month low of $42.42 and a 12-month high of $82.05.

Southern Copper (NYSE:SCCO – Get Rating) last posted its quarterly earnings results on Friday, February 3rd. The basic materials company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.37. The company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.50 billion. Southern Copper had a return on equity of 33.31% and a net margin of 26.26%. As a group, sell-side analysts expect that Southern Copper Co. will post 3.93 earnings per share for the current year.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Tuesday, February 14th were issued a $1.00 dividend. The ex-dividend date was Monday, February 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.90%. This is an increase from Southern Copper’s previous quarterly dividend of $0.50. Southern Copper’s dividend payout ratio is presently 116.96%.

Insider Activity

In other news, Director Andreve Vicente Ariztegui sold 1,500 shares of the stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $76.11, for a total value of $114,165.00. Following the transaction, the director now owns 4,400 shares in the company, valued at approximately $334,884. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.08% of the company’s stock.

Southern Copper Profile

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Southern Copper Corp. engages in the development, production, and exploration of copper, molybdenum, zinc, and silver. It operates through the following segments: Peruvian Operations, Mexican Open-Pit Operations, and Mexican Underground Mining Operations. The Peruvian Operations segment focuses on the Toquepala and Cuajone mine complexes and the smelting and refining plants, industrial railroad, and port facilities that service both mines.