Bryn Mawr Trust Advisors LLC acquired a new position in Southern Copper Corporation (NYSE:SCCO – Free Report) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 3,572 shares of the basic materials company’s stock, valued at approximately $622,000.
A number of other institutional investors also recently bought and sold shares of SCCO. Intech Investment Management LLC lifted its position in Southern Copper by 0.8% during the fourth quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company’s stock valued at $865,000 after purchasing an additional 50 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in Southern Copper by 0.8% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,072 shares of the basic materials company’s stock worth $871,000 after buying an additional 51 shares in the last quarter. Steel Grove Capital Advisors LLC raised its stake in shares of Southern Copper by 1.8% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company’s stock worth $417,000 after buying an additional 52 shares during the period. Ensign Peak Advisors Inc raised its stake in shares of Southern Copper by 0.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 6,379 shares of the basic materials company’s stock worth $915,000 after buying an additional 53 shares during the period. Finally, Venture Visionary Partners LLC raised its stake in shares of Southern Copper by 0.8% in the fourth quarter. Venture Visionary Partners LLC now owns 6,998 shares of the basic materials company’s stock worth $1,004,000 after buying an additional 53 shares during the period. 7.94% of the stock is owned by institutional investors.
Analyst Ratings Changes
SCCO has been the subject of a number of recent research reports. Barclays set a $164.03 price objective on Southern Copper and gave the company an “underweight” rating in a research note on Thursday, July 23rd. Wall Street Zen cut Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. JPMorgan Chase & Co. lifted their price objective on shares of Southern Copper from $125.49 to $129.94 and gave the company an “underweight” rating in a research report on Wednesday, June 17th. Morgan Stanley boosted their target price on Southern Copper from $144.27 to $156.13 and gave the stock an “underweight” rating in a research report on Wednesday, July 8th. Finally, UBS Group reissued a “sell” rating and issued a $158.10 price objective (up from $143.28) on shares of Southern Copper in a research note on Tuesday, June 30th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have given a Sell rating to the company. According to MarketBeat.com, Southern Copper presently has a consensus rating of “Reduce” and an average price target of $146.84.
Insider Buying and Selling
In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 202 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total value of $39,751.28. Following the completion of the sale, the director directly owned 1,723 shares in the company, valued at approximately $339,066.65. This trade represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 711 shares of company stock valued at $133,247 in the last three months. Company insiders own 0.07% of the company’s stock.
Southern Copper Price Performance
SCCO opened at $184.42 on Friday. The company has a current ratio of 5.06, a quick ratio of 4.56 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $153.87 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 1.62 and a beta of 1.11. The business’s fifty day simple moving average is $179.90 and its 200-day simple moving average is $182.98. Southern Copper Corporation has a 12-month low of $92.57 and a 12-month high of $223.88.
Southern Copper (NYSE:SCCO – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.06. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The business had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper’s quarterly revenue was up 40.6% compared to the same quarter last year. On average, equities research analysts anticipate that Southern Copper Corporation will post 7.61 earnings per share for the current fiscal year.
Southern Copper Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $4.40 annualized dividend and a yield of 2.4%. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s dividend payout ratio is currently 64.33%.
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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