Hunter Associates Investment Management LLC Has $1.86 Million Stock Position in Southern Copper Corporation $SCCO

Hunter Associates Investment Management LLC cut its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 21.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,838 shares of the basic materials company’s stock after selling 2,927 shares during the period. Hunter Associates Investment Management LLC’s holdings in Southern Copper were worth $1,864,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. SHP Wealth Management bought a new position in Southern Copper in the fourth quarter worth approximately $25,000. Lloyd Advisory Services LLC. bought a new stake in shares of Southern Copper during the fourth quarter valued at approximately $29,000. Virtus Advisers LLC acquired a new position in shares of Southern Copper during the fourth quarter worth approximately $29,000. Godfrey Financial Associates Inc. acquired a new position in shares of Southern Copper during the fourth quarter worth approximately $30,000. Finally, IFP Advisors Inc lifted its holdings in shares of Southern Copper by 233.3% in the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 161 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Performance

Southern Copper stock opened at $171.73 on Friday. The firm’s fifty day moving average price is $181.53 and its 200-day moving average price is $179.84. 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 stock has a market cap of $141.86 billion, a P/E ratio of 28.39, a price-to-earnings-growth ratio of 1.55 and a beta of 1.11. Southern Copper Corporation has a fifty-two week low of $88.73 and a fifty-two week high of $223.88.

Southern Copper Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SCCO. Barclays assumed coverage on Southern Copper in a research note on Thursday, May 21st. They set an “underweight” rating and a $148.00 price objective on the stock. UBS Group reiterated a “sell” rating and set a $160.00 price target (up from $145.00) on shares of Southern Copper in a research report on Tuesday. Scotiabank reissued an “underperform” rating and issued a $140.00 price target (up from $135.00) on shares of Southern Copper in a report on Monday, June 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Southern Copper in a report on Wednesday, June 24th. Finally, The Goldman Sachs Group upgraded shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective for the company in a research report on Friday, April 10th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and eight have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $147.19.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the sale, the director owned 1,807 shares in the company, valued at $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 404 shares of company stock worth $74,108 in the last quarter. Company insiders own 0.07% of the company’s stock.

Southern Copper Company 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.