Saturna Capital Corp Has $4.52 Million Stock Position in Southern Copper Corporation $SCCO

Saturna Capital Corp raised its position in Southern Copper Corporation (NYSE:SCCO) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

Other hedge funds also recently bought and sold shares of the company. Tobam acquired a new stake in shares of Southern Copper during the 2nd quarter valued at about $29,000. Westside Investment Management Inc. bought a new stake in shares of Southern Copper during the 2nd quarter worth about $32,000. N.E.W. Advisory Services LLC acquired a new position in shares of Southern Copper during the 1st quarter valued at about $34,000. Allworth Financial LP raised its stake in shares of Southern Copper by 65.1% in the 2nd 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 in the last quarter. Finally, Quarry LP acquired a new stake in Southern Copper in the 1st quarter worth approximately $41,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $123.89 on Wednesday. The firm has a market capitalization of $100.62 billion, a PE ratio of 25.97, a PEG ratio of 1.29 and a beta of 1.08. The company has a current ratio of 5.27, a quick ratio of 4.51 and a debt-to-equity ratio of 0.67. Southern Copper Corporation has a 1-year low of $74.84 and a 1-year high of $144.81. The business’s 50 day moving average is $126.08 and its 200-day moving average is $106.79.

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

Southern Copper Cuts Dividend

The firm also recently declared 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. The ex-dividend date is Wednesday, November 12th. This represents a $3.60 dividend on an annualized basis and a yield of 2.9%. Southern Copper’s dividend payout ratio (DPR) is currently 75.47%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Wall Street Zen upgraded Southern Copper from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. JPMorgan Chase & Co. lifted their target price on shares of Southern Copper from $92.00 to $114.50 and gave the stock a “neutral” rating in a report on Monday, October 27th. Jefferies Financial Group set a $155.00 price target on shares of Southern Copper and gave the company a “buy” rating in a report on Monday, October 6th. Wells Fargo & Company raised their price target on Southern Copper from $121.00 to $137.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. Finally, HSBC restated a “hold” rating and set a $118.00 target price (up previously from $105.00) on shares of Southern Copper in a research note on Friday, October 17th. One 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $117.94.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $139.35, for a total transaction of $27,870.00. Following the sale, the director directly owned 1,713 shares of the company’s stock, valued at approximately $238,706.55. The trade was 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. Insiders have sold a total of 962 shares of company stock worth $118,232 in the last three months. 0.07% of the stock is owned by company insiders.

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.