3,005 Shares in Southern Copper Corporation $SCCO Acquired by Providence First Trust Co

Providence First Trust Co purchased a new stake in shares of Southern Copper Corporation (NYSE:SCCO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,005 shares of the basic materials company’s stock, valued at approximately $431,000.

Other institutional investors also recently modified their holdings of the company. Hopwood Financial Services Inc. acquired a new stake in shares of Southern Copper in the third quarter worth $25,000. Caitlin John LLC acquired a new position in Southern Copper in the 3rd quarter valued at $30,000. United Community Bank bought a new position in Southern Copper in the 3rd quarter worth $30,000. Bayforest Capital Ltd bought a new position in Southern Copper in the 4th quarter worth $38,000. Finally, Flagship Harbor Advisors LLC acquired a new position in Southern Copper during the 4th quarter worth $46,000. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Up 7.7%

NYSE SCCO opened at $184.21 on Thursday. Southern Copper Corporation has a twelve month low of $86.59 and a twelve month high of $223.88. The stock has a market cap of $150.88 billion, a PE ratio of 30.45, a PEG ratio of 1.73 and a beta of 1.07. The firm has a 50-day simple moving average of $183.08 and a 200 day simple moving average of $165.56. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38.

Southern Copper shares are going to split before the market opens on Wednesday, May 13th. The 1.01-1 split was recently announced. The newly issued shares will be issued to shareholders after the market closes on Tuesday, May 12th.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.04. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%.The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $3.96 billion. On average, research analysts forecast that Southern Copper Corporation will post 6.77 EPS for the current year.

Southern Copper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Wednesday, May 13th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, May 13th. Southern Copper’s dividend payout ratio (DPR) is 66.12%.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 193 shares of Southern Copper stock in a transaction on Friday, March 13th. The shares were sold at an average price of $174.60, for a total transaction of $33,697.80. Following the sale, the director owned 1,707 shares in the company, valued at $298,042.20. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SCCO. Morgan Stanley raised their price target on Southern Copper from $155.00 to $160.00 and gave the company an “underweight” rating in a research report on Thursday, April 9th. Wells Fargo & Company set a $171.00 price objective on Southern Copper and gave the stock an “equal weight” rating in a research report on Friday, May 1st. The Goldman Sachs Group upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 target price for the company in a research note on Friday, April 10th. UBS Group lowered their target price on Southern Copper from $150.00 to $140.00 and set a “sell” rating on the stock in a report on Friday, March 27th. Finally, Bank of America downgraded Southern Copper from a “neutral” rating to an “underperform” rating and lifted their price target for the stock from $162.00 to $175.00 in a research report on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat, Southern Copper has an average rating of “Reduce” and an average price target of $144.25.

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.