Janiczek Wealth Management LLC Grows Stake in Southern Copper Co. (NYSE:SCCO)

Janiczek Wealth Management LLC boosted its holdings in shares of Southern Copper Co. (NYSE:SCCO) by 27.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,563 shares of the basic materials company’s stock after acquiring an additional 336 shares during the period. Janiczek Wealth Management LLC’s holdings in Southern Copper were worth $166,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SCCO. Fortis Group Advisors LLC increased its position in Southern Copper by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock worth $26,000 after buying an additional 151 shares in the last quarter. Riverview Trust Co purchased a new stake in Southern Copper during the 1st quarter worth about $27,000. Viking Fund Management LLC acquired a new position in Southern Copper in the 4th quarter valued at about $31,000. Venturi Wealth Management LLC lifted its holdings in Southern Copper by 164.8% in the 4th quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 300 shares in the last quarter. Finally, Washington Trust Advisors Inc. acquired a new stake in shares of Southern Copper during the 4th quarter worth about $45,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $107.73 on Friday. The business has a 50 day moving average price of $114.68 and a two-hundred day moving average price of $98.38. Southern Copper Co. has a fifty-two week low of $67.64 and a fifty-two week high of $129.79. The firm has a market cap of $84.15 billion, a PE ratio of 35.81, a price-to-earnings-growth ratio of 1.13 and a beta of 1.23. The company has a quick ratio of 2.56, a current ratio of 3.31 and a debt-to-equity ratio of 0.82.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.77 by $0.17. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Southern Copper had a net margin of 24.20% and a return on equity of 30.44%. Sell-side analysts expect that Southern Copper Co. will post 4.45 earnings per share for the current fiscal year.

Southern Copper Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Wednesday, May 8th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. Southern Copper’s dividend payout ratio is presently 1.33%.

Analyst Ratings Changes

Several research analysts have weighed in on SCCO shares. Morgan Stanley boosted their price target on Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a report on Friday, June 21st. Jefferies Financial Group upgraded Southern Copper from a “hold” rating to a “buy” rating and lifted their price target for the company from $91.00 to $130.00 in a report on Friday, March 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a research note on Thursday, March 21st. Scotiabank decreased their target price on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, May 21st. Finally, CICC Research initiated coverage on shares of Southern Copper in a research note on Wednesday, April 24th. They set an “outperform” rating on the stock. Five research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $84.50.

Insider Transactions at Southern Copper

In related news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $118.30, for a total transaction of $425,880.00. Following the sale, the director now owns 2,214 shares of the company’s stock, valued at $261,916.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $118.30, for a total transaction of $425,880.00. Following the completion of the transaction, the director now owns 2,214 shares in the company, valued at approximately $261,916.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Bonilla Luis Miguel Palomino sold 300 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $118.50, for a total transaction of $35,550.00. Following the transaction, the director now owns 4,614 shares of the company’s stock, valued at approximately $546,759. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,100 shares of company stock valued at $483,450. 0.08% of the stock is currently owned by corporate insiders.

Southern Copper Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.