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

Drucker Wealth 3.0 LLC increased its stake in Southern Copper Corporation (NYSE:SCCO) by 59.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,205 shares of the basic materials company’s stock after purchasing 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.

Other institutional investors have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. purchased a new position in Southern Copper during the 3rd quarter valued at about $25,000. MJT & Associates Financial Advisory Group Inc. boosted its position in shares of Southern Copper by 65.1% in the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 84 shares during the period. Tobam bought a new position in shares of Southern Copper in the second quarter valued at approximately $29,000. United Community Bank purchased a new position in Southern Copper during the third quarter valued at approximately $30,000. Finally, Westside Investment Management Inc. bought a new stake in Southern Copper during the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Insider Transactions at Southern Copper

In other news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the business’s stock in a transaction dated 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 sale, the director owned 605 shares of the company’s stock, valued at approximately $126,783.04. The trade was a 93.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bonilla Luis Miguel Palomino sold 403 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $137.83, for a total value of $55,544.87. Following the sale, the director owned 1,275 shares of the company’s stock, valued at $175,731.28. This represents a 24.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.07% of the stock is currently owned by company insiders.

Southern Copper Trading Down 5.3%

Shares of 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 firm has a market cap of $152.37 billion, a price-to-earnings ratio of 35.26, a PEG ratio of 1.63 and a beta of 1.07. The firm has a 50 day moving average price of $170.59 and a 200-day moving average price 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.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 10th will be given a dividend of $1.00 per share. The ex-dividend date 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 yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is currently 75.19%.

Analyst Ratings Changes

A number of research analysts have recently commented on SCCO shares. Scotiabank restated an “underperform” rating on shares of Southern Copper in a research report on Tuesday, January 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Southern Copper in a research note on Monday, December 29th. Wells Fargo & Company set a $190.38 target price on Southern Copper and gave the stock an “equal weight” rating in a research note on Thursday, January 29th. Itau BBA Securities cut Southern Copper from a “market perform” rating to an “underperform” rating and set a $124.94 price target on the stock. in a report on Monday, December 22nd. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $127.91 price objective on shares of Southern Copper in a report on Wednesday, January 14th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $136.49.

Southern Copper 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.