10,290 Shares in Southern Copper Co. (NYSE:SCCO) Acquired by Sciencast Management LP

Sciencast Management LP purchased a new position in Southern Copper Co. (NYSE:SCCOFree Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,290 shares of the basic materials company’s stock, valued at approximately $729,000.

Other hedge funds have also made changes to their positions in the company. Clearview Wealth Advisors LLC bought a new stake in Southern Copper during the 1st quarter valued at $26,000. Sanctuary Wealth Management L.L.C. bought a new stake in Southern Copper during the 4th quarter valued at $27,000. Loomis Sayles & Co. L P bought a new stake in Southern Copper during the 1st quarter valued at $29,000. Ameritas Advisory Services LLC bought a new stake in Southern Copper during the 1st quarter valued at $30,000. Finally, Ronald Blue Trust Inc. raised its stake in Southern Copper by 28.7% during the 1st quarter. Ronald Blue Trust Inc. now owns 699 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 156 shares in the last quarter. Institutional investors own 7.40% of the company’s stock.

Southern Copper Stock Performance

Shares of Southern Copper stock opened at $79.75 on Tuesday. The stock has a market cap of $61.66 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 19.23 and a beta of 1.28. The business has a fifty day simple moving average of $80.15 and a 200-day simple moving average of $75.69. The company has a quick ratio of 3.57, a current ratio of 4.50 and a debt-to-equity ratio of 0.79. Southern Copper Co. has a 12 month low of $42.42 and a 12 month high of $87.59.

Southern Copper (NYSE:SCCOGet Free Report) last issued its earnings results on Tuesday, August 1st. The basic materials company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.05). The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.37 billion. Southern Copper had a return on equity of 34.86% and a net margin of 27.62%. On average, sell-side analysts anticipate that Southern Copper Co. will post 3.61 EPS for the current fiscal year.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were given a dividend of $1.00 per share. This is a boost from Southern Copper’s previous quarterly dividend of $0.95. The ex-dividend date was Tuesday, August 8th. This represents a $4.00 dividend on an annualized basis and a yield of 5.02%. Southern Copper’s dividend payout ratio (DPR) is presently 111.11%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Southern Copper in a research report on Monday. They set a “hold” rating and a $91.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on Southern Copper from $52.50 to $55.50 and gave the company an “underweight” rating in a research report on Thursday, August 17th. Morgan Stanley lifted their price target on Southern Copper from $67.00 to $74.00 in a research report on Wednesday, June 21st. Finally, StockNews.com assumed coverage on Southern Copper in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $65.17.

Read Our Latest Research Report on SCCO

Insider Activity at Southern Copper

In related news, Director Sanchez Mejorada Enri Castillo sold 2,400 shares of Southern Copper stock in a transaction on Monday, August 14th. The stock was sold at an average price of $81.56, for a total transaction of $195,744.00. Following the completion of the sale, the director now owns 3,200 shares of the company’s stock, valued at $260,992. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 500 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $87.11, for a total value of $43,555.00. Following the completion of the sale, the director now owns 5,414 shares of the company’s stock, valued at $471,613.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sanchez Mejorada Enri Castillo sold 2,400 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $81.56, for a total value of $195,744.00. Following the completion of the sale, the director now directly owns 3,200 shares of the company’s stock, valued at approximately $260,992. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Southern Copper Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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