D.A. Davidson & CO. Raises Position in Southern Copper Corporation $SCCO

D.A. Davidson & CO. grew its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 37.5% during the fourth quarter, HoldingsChannel reports. The firm owned 33,638 shares of the basic materials company’s stock after purchasing an additional 9,181 shares during the quarter. D.A. Davidson & CO.’s holdings in Southern Copper were worth $4,826,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SCCO. Capital World Investors lifted its stake in shares of Southern Copper by 36.1% during the 3rd quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock worth $781,268,000 after purchasing an additional 1,708,693 shares during the period. Man Group plc raised its position in shares of Southern Copper by 65.4% in the 2nd quarter. Man Group plc now owns 467,119 shares of the basic materials company’s stock worth $47,258,000 after buying an additional 184,641 shares during the period. Schroder Investment Management Group raised its position in shares of Southern Copper by 54.6% in the 3rd quarter. Schroder Investment Management Group now owns 505,284 shares of the basic materials company’s stock worth $61,321,000 after buying an additional 178,350 shares during the period. Bank of Montreal Can raised its position in shares of Southern Copper by 187.2% in the 3rd quarter. Bank of Montreal Can now owns 219,038 shares of the basic materials company’s stock worth $26,582,000 after buying an additional 142,780 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Southern Copper by 81.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 286,282 shares of the basic materials company’s stock worth $28,963,000 after buying an additional 128,512 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Down 1.4%

NYSE:SCCO opened at $168.04 on Thursday. The business’s 50-day moving average is $184.59 and its two-hundred day moving average is $164.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.89 and a quick ratio of 3.40. Southern Copper Corporation has a 12 month low of $86.59 and a 12 month high of $223.88. The firm has a market capitalization of $137.64 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 1.80 and a beta of 1.16.

Southern Copper’s stock is set to split on the morning of Wednesday, May 13th. The 1.01-1 split was recently announced. The newly issued shares will be payable to shareholders after the market closes on Tuesday, May 12th.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.88 by $0.04. 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 for the quarter, compared to analyst estimates of $3.96 billion. Research analysts predict that Southern Copper Corporation will post 6.77 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

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

Insider Activity

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 193 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $174.60, for a total value of $33,697.80. Following the transaction, the director directly owned 1,707 shares of the company’s stock, valued at $298,042.20. This trade represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total value of $1,954,344.91. Following the completion of the transaction, the director directly owned 605 shares in the company, valued at $126,783.04. This trade represents a 93.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 9,526 shares of company stock worth $1,989,373 over the last three months. 0.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SCCO has been the topic of several research reports. 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. Wall Street Zen raised Southern Copper from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. The Goldman Sachs Group raised Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 target price on the stock in a research report on Friday, April 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a research report on Friday, March 27th. Finally, Bank of America lowered Southern Copper from a “neutral” rating to an “underperform” rating and increased their target price for the stock from $162.00 to $175.00 in a research report on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat.com, Southern Copper presently has an average rating of “Reduce” and a consensus target price of $145.61.

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.