Diversify Wealth Management LLC Buys New Shares in Southern Copper Corporation $SCCO

Diversify Wealth Management LLC purchased a new stake in Southern Copper Corporation (NYSE:SCCO) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,108 shares of the basic materials company’s stock, valued at approximately $2,713,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp increased its holdings in shares of Southern Copper by 2.4% during the 4th quarter. State Street Corp now owns 2,862,244 shares of the basic materials company’s stock worth $410,646,000 after purchasing an additional 66,268 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Southern Copper by 0.3% in the fourth quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company’s stock valued at $363,873,000 after buying an additional 7,194 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Southern Copper by 8.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,181,293 shares of the basic materials company’s stock valued at $169,480,000 after buying an additional 90,237 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Southern Copper by 12.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,091,632 shares of the basic materials company’s stock worth $132,479,000 after buying an additional 123,532 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Southern Copper by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 983,822 shares of the basic materials company’s stock worth $141,149,000 after buying an additional 33,804 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Down 0.6%

Shares of NYSE SCCO opened at $174.69 on Tuesday. Southern Copper Corporation has a 52-week low of $88.73 and a 52-week high of $223.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. The business has a fifty day moving average of $181.20 and a two-hundred day moving average of $181.37. The stock has a market cap of $144.31 billion, a PE ratio of 28.87, a PEG ratio of 1.54 and a beta of 1.11.

Southern Copper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, May 13th. Southern Copper’s dividend payout ratio is currently 66.12%.

Analyst Ratings Changes

Several equities analysts recently issued reports on SCCO shares. JPMorgan Chase & Co. boosted their price target on Southern Copper from $127.00 to $131.50 and gave the company an “underweight” rating in a research note on Wednesday, June 17th. UBS Group reiterated a “sell” rating and issued a $160.00 price objective (up from $145.00) on shares of Southern Copper in a research report on Tuesday, June 30th. Zacks Research raised Southern Copper from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Wells Fargo & Company lifted their price objective on Southern Copper from $171.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Finally, Morgan Stanley boosted their price objective on Southern Copper from $146.00 to $158.00 and gave the company an “underweight” rating in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and eight have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $147.10.

Insider Buying and Selling

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the completion of the sale, the director directly owned 1,807 shares of the company’s stock, valued at $321,320.74. This trade represents a 9.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 404 shares of company stock worth $74,108. 0.07% of the stock is owned by corporate 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.