Klein Pavlis & Peasley Financial Inc. Has $6.06 Million Position in Southern Copper Corporation $SCCO

Klein Pavlis & Peasley Financial Inc. trimmed its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 16.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,211 shares of the basic materials company’s stock after selling 8,263 shares during the quarter. Southern Copper comprises 3.6% of Klein Pavlis & Peasley Financial Inc.’s portfolio, making the stock its 6th biggest holding. Klein Pavlis & Peasley Financial Inc.’s holdings in Southern Copper were worth $6,056,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in shares of Southern Copper by 42.1% during the 1st quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company’s stock worth $4,194,000 after acquiring an additional 13,293 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Southern Copper by 17.9% in the 1st quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company’s stock valued at $627,000 after acquiring an additional 1,020 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Southern Copper by 21.5% in the 1st quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company’s stock valued at $556,000 after acquiring an additional 1,052 shares in the last quarter. American Century Companies Inc. boosted its position in Southern Copper by 21.0% during the second quarter. American Century Companies Inc. now owns 75,319 shares of the basic materials company’s stock worth $7,620,000 after purchasing an additional 13,048 shares during the period. Finally, Prudential Financial Inc. boosted its position in Southern Copper by 63.8% during the second quarter. Prudential Financial Inc. now owns 7,363 shares of the basic materials company’s stock worth $745,000 after purchasing an additional 2,869 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Insiders Place Their Bets

In other Southern Copper news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total value of $1,954,344.91. Following the completion of the sale, the director directly owned 605 shares of the company’s stock, valued at $126,783.04. This represents a 93.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bonilla Luis Miguel Palomino sold 193 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.60, for a total transaction of $33,697.80. Following the completion of the sale, the director owned 1,707 shares in the company, valued at $298,042.20. This represents a 10.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 9,526 shares of company stock valued at $1,989,373. Insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on SCCO shares. Wells Fargo & Company set a $190.38 price target on Southern Copper and gave the company an “equal weight” rating in a report on Thursday, January 29th. Zacks Research downgraded shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Citigroup reiterated a “sell” rating on shares of Southern Copper in a research note on Monday, January 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern Copper in a report on Monday, December 29th. Finally, Itau BBA Securities lowered shares of Southern Copper from a “market perform” rating to an “underperform” rating and set a $124.94 target price for the company. in a research report on Monday, December 22nd. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and eight have issued a Sell rating to the company’s stock. According to MarketBeat, Southern Copper currently has a consensus rating of “Reduce” and an average price target of $139.20.

Southern Copper Stock Performance

Shares of NYSE SCCO opened at $161.91 on Friday. The company has a quick ratio of 3.40, a current ratio of 3.89 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $189.78 and its two-hundred day moving average is $153.80. The company has a market cap of $132.62 billion, a P/E ratio of 30.43, a P/E/G ratio of 1.67 and a beta of 1.03. Southern Copper Corporation has a 12 month low of $74.84 and a 12 month high of $223.88.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Wednesday, January 28th. The basic materials company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.01. Southern Copper had a return on equity of 41.97% and a net margin of 32.30%.The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same period in the prior year, the business earned $0.98 earnings per share. On average, equities analysts expect that Southern Copper Corporation will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 10th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, February 10th. This is an increase from Southern Copper’s previous quarterly dividend of $0.90. Southern Copper’s dividend payout ratio is currently 75.19%.

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.