Klein Pavlis & Peasley Financial Inc. Has $6.13 Million Stock Holdings in Southern Copper Corporation $SCCO

Klein Pavlis & Peasley Financial Inc. boosted its stake in Southern Copper Corporation (NYSE:SCCO) by 9.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,474 shares of the basic materials company’s stock after acquiring an additional 4,520 shares during the period. Southern Copper accounts for about 3.8% of Klein Pavlis & Peasley Financial Inc.’s holdings, making the stock its 6th biggest position. Klein Pavlis & Peasley Financial Inc.’s holdings in Southern Copper were worth $6,126,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of SCCO. MJT & Associates Financial Advisory Group Inc. raised its holdings in shares of Southern Copper by 65.1% in the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 84 shares during the period. Tobam bought a new stake in shares of Southern Copper in the second quarter valued at $29,000. Westside Investment Management Inc. bought a new position in shares of Southern Copper during the 2nd quarter worth $32,000. Allworth Financial LP increased its holdings in Southern Copper by 65.1% in the 2nd quarter. Allworth Financial LP now owns 383 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 151 shares during the last quarter. Finally, AlphaCore Capital LLC raised its stake in Southern Copper by 148.9% in the 2nd quarter. AlphaCore Capital LLC now owns 433 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 259 shares during the period. 7.94% of the stock is owned by institutional investors.

Southern Copper Stock Performance

NYSE SCCO opened at $181.06 on Friday. The company’s 50 day simple moving average is $144.72 and its two-hundred day simple moving average is $122.38. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.52 and a quick ratio of 3.91. Southern Copper Corporation has a 1 year low of $74.84 and a 1 year high of $184.17. The stock has a market capitalization of $147.06 billion, a PE ratio of 37.96, a P/E/G ratio of 1.53 and a beta of 1.06.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Friday, October 31st. The basic materials company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.09. The firm had revenue of $3.38 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Southern Copper had a net margin of 30.98% and a return on equity of 38.74%. Analysts predict that Southern Copper Corporation will post 4.66 earnings per share for the current fiscal year.

Southern Copper Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Wednesday, November 12th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, November 12th. Southern Copper’s dividend payout ratio (DPR) is 75.47%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group reiterated a “sell” rating and issued a $129.00 target price on shares of Southern Copper in a research note on Wednesday. Itau BBA Securities lowered shares of Southern Copper from a “market perform” rating to an “underperform” rating and set a $126.00 price objective for the company. in a research note on Monday, December 22nd. UBS Group restated a “neutral” rating and set a $143.00 target price (up previously from $135.00) on shares of Southern Copper in a research report on Friday, December 12th. Wells Fargo & Company set a $182.00 price target on Southern Copper and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Morgan Stanley set a $138.00 price objective on Southern Copper and gave the stock an “underweight” rating in a report on Monday, December 15th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, Southern Copper currently has an average rating of “Reduce” and a consensus price target of $129.05.

Insider Activity at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $139.00, for a total value of $55,600.00. Following the transaction, the director directly owned 1,265 shares in the company, valued at approximately $175,835. This represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 948 shares of company stock worth $131,130 over the last ninety days. 0.07% of the stock is currently owned by insiders.

About Southern Copper

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.