Axiom Investors LLC DE lifted its holdings in shares of Southern Copper Corporation (NYSE:SCCO – Free Report) by 136.5% during the 4th quarter, Holdings Channel reports. The firm owned 379,991 shares of the basic materials company’s stock after purchasing an additional 219,316 shares during the period. Axiom Investors LLC DE’s holdings in Southern Copper were worth $54,517,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in SCCO. Royal Bank of Canada increased its holdings in shares of Southern Copper by 42.1% during the first quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company’s stock worth $4,194,000 after purchasing an additional 13,293 shares during the period. Empowered Funds LLC increased its stake in Southern Copper by 17.9% in the first quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company’s stock valued at $627,000 after acquiring an additional 1,020 shares during the last quarter. Focus Partners Wealth lifted its stake in Southern Copper by 21.5% during the first quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company’s stock worth $556,000 after purchasing an additional 1,052 shares during the last quarter. First Trust Advisors LP lifted its stake in Southern Copper by 37.4% during the second quarter. First Trust Advisors LP now owns 73,379 shares of the basic materials company’s stock worth $7,424,000 after purchasing an additional 19,957 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its stake in Southern Copper by 17.7% during the second quarter. Baird Financial Group Inc. now owns 4,864 shares of the basic materials company’s stock worth $492,000 after purchasing an additional 731 shares during the last quarter. 7.94% of the stock is owned by institutional investors.
Insider Transactions at Southern Copper
In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the sale, the director directly owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. This represents a 9.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 604 shares of company stock valued at $109,136. Corporate insiders own 0.07% of the company’s stock.
Wall Street Analysts Forecast Growth
Check Out Our Latest Research Report on Southern Copper
Southern Copper Price Performance
SCCO stock opened at $174.97 on Wednesday. The firm has a market cap of $143.32 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 1.61 and a beta of 1.09. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. Southern Copper Corporation has a 12-month low of $88.73 and a 12-month high of $223.88. The company’s fifty day simple moving average is $182.77 and its 200 day simple moving average is $174.34.
Southern Copper (NYSE:SCCO – Get Free Report) last released its earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.04. Southern Copper had a net margin of 34.13% and a return on equity of 45.63%. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $3.96 billion. On average, analysts expect that Southern Copper Corporation will post 7.25 earnings per share for the current year.
Southern Copper Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, May 13th. Southern Copper’s dividend payout ratio is presently 66.12%.
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.
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