24,264 Shares in Southern Copper Corporation $SCCO Bought by Vise Technologies Inc.

Vise Technologies Inc. acquired a new stake in Southern Copper Corporation (NYSE:SCCO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,264 shares of the basic materials company’s stock, valued at approximately $4,228,000.

A number of other large investors also recently added to or reduced their stakes in the business. Intech Investment Management LLC boosted its position in shares of 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 grew 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 worth $871,000 after acquiring an additional 51 shares in the last quarter. Steel Grove Capital Advisors LLC increased its position in shares of Southern Copper by 1.8% during 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 increased its position in Southern Copper by 0.8% during the fourth quarter. Ensign Peak Advisors Inc now owns 6,379 shares of the basic materials company’s stock valued at $915,000 after acquiring an additional 53 shares during the last quarter. Finally, Venture Visionary Partners LLC grew its holdings in 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 valued at $1,004,000 after purchasing an additional 53 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Price Performance

NYSE:SCCO opened at $199.45 on Friday. Southern Copper Corporation has a one year low of $92.57 and a one year high of $223.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.56 and a current ratio of 5.06. The firm has a market cap of $166.41 billion, a price-to-earnings ratio of 29.16, a PEG ratio of 1.67 and a beta of 1.11. The firm’s fifty day moving average is $181.66 and its two-hundred day moving average is $182.97.

Southern Copper (NYSE:SCCO) last posted its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.93 by $0.06. The firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.37 billion. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The firm’s revenue for the quarter was up 40.6% on a year-over-year basis. Research analysts expect that Southern Copper Corporation will post 7.61 EPS for the current year.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a yield of 2.2%. Southern Copper’s dividend payout ratio is 64.33%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SCCO shares. Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Wells Fargo & Company boosted their price objective on shares of Southern Copper from $168.97 to $169.96 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. UBS Group restated a “sell” rating and set a $158.10 price objective (up from $143.28) on shares of Southern Copper in a research note on Tuesday, June 30th. Scotiabank restated an “underperform” rating and issued a $138.34 target price (up from $133.40) on shares of Southern Copper in a research note on Monday, June 15th. Finally, Morgan Stanley raised their price target on Southern Copper from $144.27 to $156.13 and gave the stock an “underweight” rating in a report on Wednesday, July 8th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $146.84.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 202 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total transaction of $39,751.28. Following the completion of the transaction, the director directly owned 1,723 shares of the company’s stock, valued at $339,066.65. This represents a 10.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders sold 509 shares of company stock worth $97,753. Corporate insiders own 0.07% of the company’s stock.

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.