Drucker Wealth 3.0 LLC Purchases 5,670 Shares of Southern Copper Corporation $SCCO

Drucker Wealth 3.0 LLC raised its position in Southern Copper Corporation (NYSE:SCCO) by 59.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,205 shares of the basic materials company’s stock after acquiring an additional 5,670 shares during the quarter. Drucker Wealth 3.0 LLC’s holdings in Southern Copper were worth $1,845,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SCCO. Rakuten Investment Management Inc. bought a new position in shares of Southern Copper in the 3rd quarter worth about $2,976,000. Legal & General Group Plc grew its holdings in Southern Copper by 4.3% in the second quarter. Legal & General Group Plc now owns 941,712 shares of the basic materials company’s stock worth $95,273,000 after purchasing an additional 38,856 shares during the period. Nordea Investment Management AB increased its stake in shares of Southern Copper by 5.7% during the third quarter. Nordea Investment Management AB now owns 148,484 shares of the basic materials company’s stock valued at $17,778,000 after purchasing an additional 7,995 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Southern Copper by 2,631.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,441 shares of the basic materials company’s stock valued at $1,631,000 after purchasing an additional 12,949 shares during the last quarter. Finally, Alps Advisors Inc. boosted its position in shares of Southern Copper by 54.2% in the 3rd quarter. Alps Advisors Inc. now owns 35,647 shares of the basic materials company’s stock worth $4,326,000 after purchasing an additional 12,532 shares in the last quarter. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SCCO has been the subject of a number of analyst reports. Citigroup reaffirmed a “sell” rating on shares of Southern Copper in a research report on Monday, January 12th. JPMorgan Chase & Co. restated an “underweight” rating and set a $116.51 price target (down from $118.49) on shares of Southern Copper in a report on Friday, January 23rd. Zacks Research lowered Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Southern Copper in a research report on Monday, December 29th. Finally, UBS Group restated a “sell” rating and set a $148.74 price objective (up from $146.75) on shares of Southern Copper in a research note on Tuesday, February 3rd. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat.com, Southern Copper has a consensus rating of “Reduce” and a consensus price target of $136.49.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $187.60 on Wednesday. Southern Copper Corporation has a fifty-two week low of $74.84 and a fifty-two week high of $218.81. The business has a 50-day simple moving average of $170.59 and a two-hundred day simple moving average of $136.37. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.91 and a current ratio of 4.52. The firm has a market cap of $152.37 billion, a price-to-earnings ratio of 35.26, a price-to-earnings-growth ratio of 1.63 and a beta of 1.07.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. Southern Copper’s dividend payout ratio is presently 75.19%.

Insider Buying and Selling

In other news, Director Bonilla Luis Miguel Palomino sold 403 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $137.83, for a total transaction of $55,544.87. Following the transaction, the director directly owned 1,275 shares of the company’s stock, valued at $175,731.28. This represents a 24.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $209.56, for a total value of $1,954,344.91. Following the completion of the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. 0.07% of the stock is owned by corporate insiders.

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.