Southern Copper Corporation $SCCO Shares Bought by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Southern Copper Corporation (NYSE:SCCO) by 4.8% during the 2nd quarter, Holdings Channel reports. The firm owned 371,361 shares of the basic materials company’s stock after purchasing an additional 17,024 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Southern Copper were worth $37,571,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its position in shares of Southern Copper by 5.0% in the first quarter. Envestnet Asset Management Inc. now owns 29,344 shares of the basic materials company’s stock valued at $2,742,000 after acquiring an additional 1,396 shares in the last quarter. Cerity Partners LLC lifted its holdings in Southern Copper by 15.6% in the 1st quarter. Cerity Partners LLC now owns 18,335 shares of the basic materials company’s stock valued at $1,714,000 after purchasing an additional 2,477 shares in the last quarter. CWM LLC grew its holdings in shares of Southern Copper by 4.4% during the first quarter. CWM LLC now owns 4,608 shares of the basic materials company’s stock worth $431,000 after buying an additional 193 shares in the last quarter. Sigma Planning Corp purchased a new stake in shares of Southern Copper during the first quarter worth $205,000. Finally, Apollon Wealth Management LLC acquired a new stake in shares of Southern Copper in the first quarter valued at about $222,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SCCO shares. Jefferies Financial Group set a $155.00 target price on shares of Southern Copper and gave the stock a “buy” rating in a research note on Monday, October 6th. Wall Street Zen upgraded Southern Copper from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Citigroup restated a “sell” rating and issued a $108.00 target price (up from $89.10) on shares of Southern Copper in a report on Wednesday, October 8th. UBS Group reiterated a “buy” rating on shares of Southern Copper in a report on Friday, September 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Southern Copper from $92.00 to $114.50 and gave the company a “neutral” rating in a report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $117.94.

Southern Copper Stock Performance

NYSE:SCCO opened at $127.03 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.51 and a current ratio of 5.27. The stock has a market capitalization of $103.18 billion, a P/E ratio of 26.63, a PEG ratio of 1.29 and a beta of 1.08. The company has a 50 day moving average price of $125.60 and a 200 day moving average price of $106.55. 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 released 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%. Equities research analysts forecast that Southern Copper Corporation will post 4.66 EPS for the current year.

Southern Copper Cuts Dividend

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

Insider Buying and Selling at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $139.35, for a total value of $27,870.00. Following the completion of the transaction, the director directly owned 1,713 shares of the company’s stock, valued at $238,706.55. This represents 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. Over the last quarter, insiders sold 962 shares of company stock worth $118,232. 0.07% of the stock is currently owned by company insiders.

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.