Southern Copper (NYSE:SCCO) Announces Quarterly Earnings Results

Southern Copper (NYSE:SCCO) issued its quarterly earnings results on Wednesday. The basic materials company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.04, FiscalAI reports. Southern Copper had a return on equity of 41.97% and a net margin of 32.30%.The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $3.96 billion.

Southern Copper Trading Down 1.4%

Shares of SCCO opened at $168.04 on Thursday. Southern Copper has a twelve month low of $86.59 and a twelve month high of $223.88. The firm has a market capitalization of $137.64 billion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 1.80 and a beta of 1.16. The company has a current ratio of 3.89, a quick ratio of 3.40 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $184.59 and its 200 day simple moving average is $164.39.

Southern Copper shares are scheduled to split on the morning of Wednesday, May 13th. The 1.01-1 split was recently announced. The newly issued shares will be issued to shareholders after the closing bell on Tuesday, May 12th.

Southern Copper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Wednesday, May 13th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, May 13th. Southern Copper’s dividend payout ratio (DPR) is 75.19%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SCCO. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a research report on Friday, March 27th. JPMorgan Chase & Co. increased their target price on Southern Copper from $117.50 to $127.00 and gave the stock an “underweight” rating in a research report on Friday, April 10th. Scotiabank reissued an “underperform” rating and issued a $133.00 price target (up from $125.00) on shares of Southern Copper in a research note on Thursday, April 23rd. Wells Fargo & Company set a $186.00 price target on Southern Copper and gave the company an “equal weight” rating in a report on Wednesday, April 15th. Finally, The Goldman Sachs Group raised shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective for the company in a research note on Friday, April 10th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $145.61.

Insider Transactions at Southern Copper

In other news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $209.56, for a total transaction of $1,954,344.91. Following the completion of the sale, the director owned 605 shares in the company, valued at approximately $126,783.04. The trade was a 93.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bonilla Luis Miguel Palomino sold 193 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.60, for a total transaction of $33,697.80. Following the sale, the director directly owned 1,707 shares of the company’s stock, valued at approximately $298,042.20. This trade represents a 10.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 9,526 shares of company stock worth $1,989,373. Company insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On Southern Copper

Several institutional investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in shares of Southern Copper in the 4th quarter valued at $479,000. Compound Planning Inc. boosted its position in Southern Copper by 1.1% during the 4th quarter. Compound Planning Inc. now owns 9,971 shares of the basic materials company’s stock worth $1,430,000 after purchasing an additional 105 shares during the period. Invesco Ltd. increased its holdings in Southern Copper by 151.9% in the 4th quarter. Invesco Ltd. now owns 261,260 shares of the basic materials company’s stock valued at $37,483,000 after purchasing an additional 157,543 shares in the last quarter. Ameriflex Group Inc. increased its holdings in Southern Copper by 239.7% in the 4th quarter. Ameriflex Group Inc. now owns 265 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 187 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in Southern Copper by 2.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,788 shares of the basic materials company’s stock valued at $2,695,000 after purchasing an additional 460 shares during the period. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

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.