Simplicity Wealth LLC Makes New $390,000 Investment in Southern Copper Co. (NYSE:SCCO)

Simplicity Wealth LLC acquired a new position in shares of Southern Copper Co. (NYSE:SCCO) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,664 shares of the basic materials company’s stock, valued at approximately $390,000.

Several other large investors have also recently modified their holdings of SCCO. AQR Capital Management LLC grew its holdings in shares of Southern Copper by 7.0% during the third quarter. AQR Capital Management LLC now owns 80,682 shares of the basic materials company’s stock valued at $6,075,000 after buying an additional 5,296 shares during the last quarter. Tyche Wealth Partners LLC purchased a new position in Southern Copper during the fourth quarter worth approximately $1,668,000. Janney Montgomery Scott LLC boosted its position in Southern Copper by 378.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 166,398 shares of the basic materials company’s stock worth $14,322,000 after purchasing an additional 131,651 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Southern Copper by 119.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 41,223 shares of the basic materials company’s stock valued at $3,548,000 after purchasing an additional 22,471 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Southern Copper by 8,523.8% in the fourth quarter. International Assets Investment Management LLC now owns 172,907 shares of the basic materials company’s stock valued at $14,882,000 after buying an additional 170,902 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Insider Activity

In related news, Director Bonilla Luis Miguel Palomino sold 300 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $118.50, for a total transaction of $35,550.00. Following the sale, the director now directly owns 4,614 shares in the company, valued at $546,759. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 600 shares of company stock worth $63,430. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

SCCO has been the topic of a number of research analyst reports. HSBC cut shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price target on the stock. in a research note on Monday, April 22nd. Morgan Stanley boosted their price objective on Southern Copper from $123.00 to $135.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 30th. CICC Research initiated coverage on shares of Southern Copper in a research note on Wednesday, April 24th. They issued an “outperform” rating on the stock. Scotiabank lowered their price objective on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a research note on Tuesday. Finally, The Goldman Sachs Group boosted their target price on shares of Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a report on Friday, March 22nd. Five investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $90.33.

Southern Copper Trading Down 7.9 %

Shares of Southern Copper stock traded down $9.96 on Wednesday, reaching $116.75. The company had a trading volume of 2,201,518 shares, compared to its average volume of 1,200,945. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.56 and a current ratio of 3.31. The firm has a market cap of $91.20 billion, a PE ratio of 38.80, a PEG ratio of 2.91 and a beta of 1.27. The firm’s 50 day moving average price is $112.78 and its two-hundred day moving average price is $91.60. Southern Copper Co. has a 52-week low of $64.66 and a 52-week high of $129.79.

Southern Copper (NYSE:SCCO) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.17. Southern Copper had a return on equity of 30.44% and a net margin of 24.20%. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. Sell-side analysts predict that Southern Copper Co. will post 3.97 earnings per share for the current fiscal year.

Southern Copper Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Tuesday, May 7th. Southern Copper’s payout ratio is currently 1.33%.

Southern Copper Company Profile

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.