Walser Wealth Management Company A Ltd Liability Co Purchases New Holdings in Southern Copper Corporation $SCCO

Walser Wealth Management Company A Ltd Liability Co acquired a new position in Southern Copper Corporation (NYSE:SCCO) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,863 shares of the basic materials company’s stock, valued at approximately $1,391,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc acquired a new stake in Southern Copper during the 2nd quarter valued at $26,000. Rakuten Securities Inc. purchased a new stake in shares of Southern Copper in the second quarter valued at $28,000. SHP Wealth Management purchased a new stake in shares of Southern Copper in the fourth quarter valued at $25,000. Compass Financial Management LLC acquired a new stake in shares of Southern Copper in the second quarter worth $41,000. Finally, Caitlin John LLC acquired a new stake in shares of Southern Copper in the second quarter worth $43,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SCCO shares. Citigroup reiterated a “positive” rating on shares of Southern Copper in a report on Wednesday, July 15th. Zacks Research lowered Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Wells Fargo & Company increased their price objective on Southern Copper from $172.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 6th. Barclays set a $164.03 price objective on Southern Copper and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. Finally, UBS Group restated a “sell” rating and set a $180.00 price objective (up from $160.00) on shares of Southern Copper in a research report on Thursday, October 8th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $156.02.

Insider Activity at Southern Copper

In other news, Director Luis Palomino Bonilla sold 202 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $196.79, for a total value of $39,751.28. Following the transaction, the director directly owned 1,723 shares of the company’s stock, valued at approximately $339,066.65. This represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 704 shares of company stock worth $138,077. Insiders own 0.07% of the company’s stock.

Southern Copper Stock Up 0.6%

Southern Copper stock opened at $201.87 on Friday. The firm has a market cap of $168.43 billion, a PE ratio of 29.34, a P/E/G ratio of 1.77 and a beta of 1.11. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.56 and a current ratio of 5.06. The firm’s 50 day moving average price is $201.24 and its two-hundred day moving average price is $187.25. Southern Copper Corporation has a twelve month low of $119.25 and a twelve month high of $223.88.

Southern Copper (NYSE:SCCO) last released its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.06. The company had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The company’s revenue was up 40.6% on a year-over-year basis. On average, research analysts predict that Southern Copper Corporation will post 7.94 EPS for the current fiscal year.

About Southern Copper

Southern Copper Corp. is an integrated copper producer engaged in the exploration, mining, processing, smelting and refining of copper and other minerals. Its principal products include copper cathodes, copper concentrates, molybdenum, zinc, silver and lead. The company also produces sulfuric acid and other byproducts through its metallurgical operations.

Southern Copper operates major mining and processing assets in Mexico and Peru. Its Mexican operations include the Buenavista del Cobre and La Caridad mining complexes, while its Peruvian operations include the Cuajone and Toquepala mines.