Southern Copper Corporation $SCCO Shares Bought by Saturna Capital Corp

Saturna Capital Corp increased its stake in Southern Copper Corporation (NYSE:SCCO) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,700 shares of the basic materials company’s stock after purchasing an additional 437 shares during the quarter. Saturna Capital Corp’s holdings in Southern Copper were worth $4,522,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Tobam bought a new stake in shares of Southern Copper during the 2nd quarter worth about $29,000. Westside Investment Management Inc. bought a new position in shares of Southern Copper in the second quarter valued at approximately $32,000. N.E.W. Advisory Services LLC acquired a new position in shares of Southern Copper during the first quarter valued at approximately $34,000. Allworth Financial LP increased its stake in shares of Southern Copper by 65.1% during the second quarter. Allworth Financial LP now owns 383 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 151 shares during the period. Finally, Quarry LP bought a new stake in Southern Copper during the first quarter worth approximately $41,000. Institutional investors own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SCCO. Jefferies Financial Group set a $155.00 price target on Southern Copper and gave the company a “buy” rating in a research note on Monday, October 6th. HSBC restated a “hold” rating and issued a $118.00 price objective (up previously from $105.00) on shares of Southern Copper in a report on Friday, October 17th. Wells Fargo & Company raised their target price on Southern Copper from $121.00 to $137.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a report on Thursday, November 13th. Finally, UBS Group reissued a “buy” rating on shares of Southern Copper in a report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Southern Copper presently has an average rating of “Hold” and an average price target of $117.94.

Southern Copper Stock Performance

Southern Copper stock opened at $123.89 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.27 and a quick ratio of 4.51. The company has a market cap of $100.62 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 1.29 and a beta of 1.08. Southern Copper Corporation has a fifty-two week low of $74.84 and a fifty-two week high of $144.81. The firm’s 50 day simple moving average is $126.08 and its 200-day simple moving average is $106.79.

Southern Copper (NYSE:SCCO) last announced its earnings results on Friday, October 31st. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.09. The company had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.05 billion. Southern Copper had a net margin of 30.98% and a return on equity of 39.62%. As a group, equities research analysts predict that Southern Copper Corporation will post 4.66 EPS for the current year.

Southern Copper Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, November 12th. Southern Copper’s payout ratio is 75.47%.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $139.35, for a total value of $27,870.00. Following the completion of the sale, the director directly owned 1,713 shares of the company’s stock, valued at $238,706.55. This represents a 10.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 962 shares of company stock valued at $118,232. 0.07% of the stock is owned by corporate insiders.

Southern Copper Profile

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.