Paragon Financial Partners Inc. Invests $902,000 in Southern Copper Corporation $SCCO

Paragon Financial Partners Inc. purchased a new stake in shares of Southern Copper Corporation (NYSE:SCCO) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 4,936 shares of the basic materials company’s stock, valued at approximately $902,000. Southern Copper makes up 0.5% of Paragon Financial Partners Inc.’s investment portfolio, making the stock its 29th biggest holding.

A number of other large investors have also recently added to or reduced their stakes in the business. Intech Investment Management LLC increased its stake 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 worth $865,000 after acquiring an additional 50 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al raised 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 valued at $871,000 after purchasing an additional 51 shares during the period. Steel Grove Capital Advisors LLC lifted its stake in shares of Southern Copper by 1.8% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company’s stock valued at $417,000 after purchasing an additional 52 shares during the last quarter. Ensign Peak Advisors Inc lifted its stake in shares of Southern Copper by 0.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 6,379 shares of the basic materials company’s stock valued at $915,000 after purchasing an additional 53 shares during the last quarter. Finally, Venture Visionary Partners LLC grew its holdings in shares of Southern Copper by 0.8% during the 4th quarter. Venture Visionary Partners LLC now owns 6,998 shares of the basic materials company’s stock worth $1,004,000 after purchasing an additional 53 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SCCO. JPMorgan Chase & Co. raised their price objective on Southern Copper from $125.49 to $129.94 and gave the stock an “underweight” rating in a research report on Wednesday, June 17th. Citigroup reaffirmed a “positive” rating on shares of Southern Copper in a research note on Wednesday, July 15th. Weiss Ratings upgraded shares of Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Scotiabank reissued an “underperform” rating and issued a $138.34 price target (up from $133.40) on shares of Southern Copper in a research note on Monday, June 15th. Finally, Morgan Stanley upped their price objective on shares of Southern Copper from $144.27 to $156.13 and gave the stock an “underweight” rating in a report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $146.84.

Southern Copper Stock Performance

NYSE SCCO opened at $192.54 on Tuesday. The company has a market cap of $160.64 billion, a P/E ratio of 28.15, a P/E/G ratio of 1.58 and a beta of 1.11. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.06 and a quick ratio of 4.56. The stock has a 50-day moving average of $180.38 and a two-hundred day moving average of $182.99. Southern Copper Corporation has a 1-year low of $92.57 and a 1-year high of $223.88.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.06. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The business had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.37 billion. The company’s quarterly revenue was up 40.6% compared to the same quarter last year. As a group, analysts anticipate that Southern Copper Corporation will post 7.61 EPS for the current year.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be issued a dividend of $1.10 per share. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date is Tuesday, August 11th. This represents a $4.40 dividend on an annualized basis and a yield of 2.3%. Southern Copper’s dividend payout ratio (DPR) is currently 64.33%.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 202 shares of Southern Copper stock in a transaction on 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 transaction, 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 document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 711 shares of company stock worth $133,247. 0.07% of the stock is owned by corporate insiders.

Southern Copper 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.