Swiss National Bank Purchases 1,669 Shares of Southern Copper Corporation $SCCO

Swiss National Bank lifted its stake in Southern Copper Corporation (NYSE:SCCO) by 0.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 200,572 shares of the basic materials company’s stock after buying an additional 1,669 shares during the period. Swiss National Bank’s holdings in Southern Copper were worth $20,292,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. American Financial Advisors LLC lifted its holdings in shares of Southern Copper by 1.1% during the second quarter. American Financial Advisors LLC now owns 10,422 shares of the basic materials company’s stock valued at $1,054,000 after acquiring an additional 112 shares during the period. Mutual Advisors LLC raised its holdings in Southern Copper by 1.7% during the 2nd quarter. Mutual Advisors LLC now owns 6,577 shares of the basic materials company’s stock worth $646,000 after buying an additional 113 shares during the period. PDS Planning Inc boosted its stake in Southern Copper by 3.7% in the 2nd quarter. PDS Planning Inc now owns 3,330 shares of the basic materials company’s stock worth $337,000 after purchasing an additional 119 shares during the period. Drive Wealth Management LLC grew its stake in shares of Southern Copper by 5.1% during the 2nd quarter. Drive Wealth Management LLC now owns 2,504 shares of the basic materials company’s stock worth $253,000 after acquiring an additional 121 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its holdings in Southern Copper by 1.0% during the second quarter. IFM Investors Pty Ltd now owns 12,725 shares of the basic materials company’s stock worth $1,287,000 after purchasing an additional 124 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Southern Copper

In related 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 transaction, the director owned 1,713 shares of the company’s stock, valued at $238,706.55. This represents a 10.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 962 shares of company stock worth $118,232. 0.07% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SCCO has been the topic of several analyst reports. Jefferies Financial Group set a $155.00 price target on shares of Southern Copper and gave the stock a “buy” rating in a research report on Monday, October 6th. Wall Street Zen raised Southern Copper from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern Copper in a research note on Wednesday, November 19th. HSBC reiterated a “hold” rating and issued a $118.00 price target (up previously from $105.00) on shares of Southern Copper in a research note on Friday, October 17th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Southern Copper from $92.00 to $114.50 and gave the stock a “neutral” rating in a research note on Monday, October 27th. 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. Based on data from MarketBeat.com, Southern Copper currently has an average rating of “Hold” and an average price target of $117.94.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $129.15 on Wednesday. The business has a fifty day moving average price of $127.94 and a two-hundred day moving average price of $108.06. The stock has a market capitalization of $104.90 billion, a PE ratio of 27.08, a P/E/G ratio of 1.29 and a beta of 1.08. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.27 and a quick ratio of 4.51. Southern Copper Corporation has a fifty-two week low of $74.84 and a fifty-two week high of $144.81.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Friday, October 31st. The basic materials company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. The company had revenue of $3.38 billion for 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%. As a group, equities analysts predict that Southern Copper Corporation will post 4.66 earnings per share for the current fiscal year.

Southern Copper Cuts Dividend

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

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.