In a recent disclosure with the Securities and Exchange Commission (SEC), Boenning & Scattergood Inc. has announced its purchase of new shares in Southern Copper Co (SCCO) during the fourth quarter. The basic materials company has received a staggering 3,100 shares in this transaction, valued at around $235,000. This adds another layer to the financial growth of SCCO, indicating an optimistic market trend.
However, amidst this positive development, a report emerged that Director Andreve Vicente Ariztegui has sold 1,500 shares of SCCO’s stock in a recent transaction dated February 16th. The shares were reportedly sold at an average price of $76.11 with a total value of $114,165.00. After completing this sale, the director now directly owns 4,400 shares amounting to approximately $334,884. Although following regulation procedures by disclosing the transaction with SEC is essential; given that insiders remain owners of about 0.08% of stock makes this consideration crucial.
As it currently stands SCCO opened at $74.71 on Friday, and its market capitalization circle around $57.76 billion with a P/E ratio of 21.85 P/E/G ratio sitting at 3.83 alongside its beta which hits at approximately at around107%. As impressive as those figures are for those interested in investing in SCCO novel equity or divesting from their current position holders alike -it’s also good to reference SCCO’s financial history before making any sudden move switching from their long-term investment strategy.
Moreover, throughout the last twelve months and tenacious market volatility period specifically experienced around late May to early June but especially in mid-March due to COVID-19 outburst- Southern Copper Co had displayed resilience varying between lows ($42.42) and Highs ($78.76). These statistics speak well enough about how rapidly Southern Copper Co.’s equity can respond to the vast liquidity injections and regulatory actions of central banks around the world.
The company operating in the mining sector with domestic operations in Peru and its headquarters at Phoenix, Arizona, has a current ratio of 4.20 and quick-ratio amounting to 3.38; SCCO boasts a competitive debt-to-equity ratio of 0.77. The fifty-day moving average price of $73.88 is also satisfactory for a stock like SCCO, which shows high market value upon encumbrance by multiple investors via an open trading account.
In conclusion, SCCO’s robust financial performance continues to highlight its creditworthiness as the company records another significant purchase by esteemed investors who are positively impacting their worth in emergent equity effectively given that it’s highly dependent on global demand for copper and cleaner energy sources – one that can be beneficial finally in reducing greenhouse gases while driving down fuel costs over time.
Institutional Holdings Shift as Southern Copper Shows Potential Upward Trajectory
Southern Copper Co. (NYSE:SCCO) has been the subject of multiple recent changes to institutional investor positions, according to reports. Hedge funds and other significant investors now own 7.03% of the company’s stock, with companies including Accurate Wealth Management LLC, Boyd Watterson Asset Management LLC OH, Loomis Sayles & Co. L P, American Research & Management Co., and Private Trust Co. NA purchasing new stakes in the company during the last seven months.
Southern Copper has featured in a number of research reports in recent times with significant analysis offered by Morgan Stanley who lowered shares from “overweight” to “equal weight”, issuing a $70 price objective for the company. Barclays increased its price target to $56 whilst maintaining a “hold” rating for SCCO’s stock. This support was mirrored by Deutsche Bank Aktiengesellschaft who lifted their price objective from $45 to $50 rating.
Yet despite some positive reinforcement, Southern Copper has received three sell ratings in total; there have been four hold ratings and only two “buy” recommendations on average for the stocks.
The firm posted Q1 figures earlier this year which exceeded expectations with shares gaining 2% following their release. The basic materials company revealed earnings per share (EPS) of $1.17 compared to analyst estimates of just $0.80, alongside revenue of $2.82bn versus an expected figure closer to $2.50bn – indicating a clear potential upswing trajectory moving forwards.
In further recent news pertaining to Southern Copper, Director Andreve Vicente Ariztegui sold 1,500 shares of SCCO stock on Thursday February 16th at an average rate of $76.11 per share – comprising 0.08% overall insider-held shares in SCCO.Once these shares were sold Mr Ariztegui retained ownership of some 4,400 SCCO shares valued at $334,884.
The company’s recent quarterly dividend payment saw investors of record on Tuesday 14th February granted a $1.00 dividend versus the previous quarter’s $0.50 payout which equates to an annualised rate of return of $4.00 per share and a yield of 5.35%.