SBI Securities Co. Ltd. Raises Stake in Southern Copper Corporation $SCCO

SBI Securities Co. Ltd. lifted its position in shares of Southern Copper Corporation (NYSE:SCCO) by 82.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,085 shares of the basic materials company’s stock after buying an additional 2,298 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Southern Copper were worth $514,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. National Pension Service raised its holdings in Southern Copper by 1.0% in the 2nd quarter. National Pension Service now owns 26,655 shares of the basic materials company’s stock valued at $2,697,000 after acquiring an additional 261 shares during the last quarter. Vise Technologies Inc. purchased a new stake in shares of Southern Copper in the second quarter valued at $1,415,000. Allworth Financial LP grew its position in shares of Southern Copper by 65.1% in the second quarter. Allworth Financial LP now owns 383 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 151 shares during the period. Americana Partners LLC increased its stake in Southern Copper by 2.3% in the second quarter. Americana Partners LLC now owns 38,287 shares of the basic materials company’s stock valued at $3,873,000 after purchasing an additional 847 shares during the last quarter. Finally, Altman Advisors Inc. lifted its position in Southern Copper by 2.7% during the second quarter. Altman Advisors Inc. now owns 14,860 shares of the basic materials company’s stock worth $1,517,000 after buying an additional 392 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Trading Down 1.0%

NYSE SCCO opened at $130.73 on Friday. The firm has a market capitalization of $106.18 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 1.29 and a beta of 1.08. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.51 and a current ratio of 5.27. Southern Copper Corporation has a one year low of $74.84 and a one year high of $144.81. The company’s 50 day moving average price is $125.13 and its 200 day moving average price is $106.08.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Friday, October 31st. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.09. Southern Copper had a net margin of 30.98% and a return on equity of 39.62%. The company had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.05 billion. On average, sell-side analysts predict that Southern Copper Corporation will post 4.66 EPS for the current year.

Southern Copper Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Wednesday, November 12th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, November 12th. Southern Copper’s dividend payout ratio is currently 75.47%.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $139.35, for a total transaction of $27,870.00. Following the transaction, the director owned 1,713 shares in the company, valued at $238,706.55. The trade was a 10.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 962 shares of company stock valued at $118,232 over the last 90 days. Company insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Southern Copper from $92.00 to $114.50 and gave the company a “neutral” rating in a report on Monday, October 27th. Zacks Research raised shares of Southern Copper from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. HSBC reaffirmed a “hold” rating and set a $118.00 price target (up previously from $105.00) on shares of Southern Copper in a research report on Friday, October 17th. Jefferies Financial Group set a $155.00 price target on shares of Southern Copper and gave the stock a “buy” rating in a research note on Monday, October 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Southern Copper in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $117.94.

About Southern Copper

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.