IFM Investors Pty Ltd Boosts Stock Holdings in Southern Copper Corporation $SCCO

IFM Investors Pty Ltd raised its holdings in Southern Copper Corporation (NYSE:SCCO) by 44.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,422 shares of the basic materials company’s stock after purchasing an additional 5,697 shares during the quarter. IFM Investors Pty Ltd’s holdings in Southern Copper were worth $2,155,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. lifted its holdings in shares of Southern Copper by 65.1% in the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock valued at $26,000 after buying an additional 84 shares during the period. Farther Finance Advisors LLC raised its position in Southern Copper by 56.6% in the third quarter. Farther Finance Advisors LLC now owns 15,593 shares of the basic materials company’s stock worth $1,892,000 after acquiring an additional 5,637 shares in the last quarter. Confluence Investment Management LLC lifted its holdings in Southern Copper by 38.5% in the third quarter. Confluence Investment Management LLC now owns 8,287 shares of the basic materials company’s stock valued at $1,006,000 after acquiring an additional 2,305 shares during the period. HBK Sorce Advisory LLC boosted its position in shares of Southern Copper by 12.4% during the 3rd quarter. HBK Sorce Advisory LLC now owns 3,701 shares of the basic materials company’s stock worth $490,000 after purchasing an additional 407 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. grew its stake in shares of Southern Copper by 1.8% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 69,477 shares of the basic materials company’s stock worth $8,432,000 after purchasing an additional 1,261 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Trading Up 0.9%

Shares of Southern Copper stock opened at $149.49 on Friday. Southern Copper Corporation has a 1 year low of $74.84 and a 1 year high of $152.19. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.52 and a quick ratio of 3.91. The business has a 50 day moving average price of $136.61 and a 200 day moving average price of $115.66. The company has a market capitalization of $121.42 billion, a P/E ratio of 31.34, a P/E/G ratio of 1.36 and a beta of 1.07.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Friday, October 31st. The basic materials company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.09. Southern Copper had a return on equity of 38.74% and a net margin of 30.98%.The company had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.05 billion. Sell-side analysts anticipate that Southern Copper Corporation will post 4.66 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Wednesday, November 12th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Wednesday, November 12th. Southern Copper’s dividend payout ratio is 75.47%.

Analyst Ratings Changes

SCCO has been the subject of several recent analyst reports. UBS Group reiterated a “neutral” rating and issued a $143.00 price objective (up previously from $135.00) on shares of Southern Copper in a research note on Friday, December 12th. Wells Fargo & Company set a $144.00 price target on shares of Southern Copper and gave the company an “equal weight” rating in a research report on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of Southern Copper in a report on Monday. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $115.00 price objective (up from $89.00) on shares of Southern Copper in a research note on Wednesday, October 29th. Finally, Jefferies Financial Group set a $155.00 target price on Southern Copper and gave the stock a “buy” rating in a research report on Monday, October 6th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $123.85.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 400 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $139.00, for a total transaction of $55,600.00. Following the sale, the director directly owned 1,265 shares of the company’s stock, valued at $175,835. This trade represents a 24.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 948 shares of company stock valued at $131,130. 0.07% of the stock is currently owned by corporate insiders.

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.