Royal Fund Management LLC Has $396,000 Position in Southern Copper Corporation $SCCO

Royal Fund Management LLC lowered its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 83.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,301 shares of the basic materials company’s stock after selling 11,632 shares during the quarter. Royal Fund Management LLC’s holdings in Southern Copper were worth $396,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Southern Copper in the fourth quarter worth $97,645,000. Capital Research Global Investors bought a new stake in shares of Southern Copper during the 4th quarter worth $81,039,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Southern Copper in the 1st quarter valued at $85,342,000. Arrowstreet Capital Limited Partnership acquired a new position in Southern Copper in the 4th quarter valued at $46,560,000. Finally, USS Investment Management Ltd raised its holdings in Southern Copper by 904.8% in the 4th quarter. USS Investment Management Ltd now owns 301,655 shares of the basic materials company’s stock worth $43,272,000 after acquiring an additional 271,634 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Performance

NYSE SCCO opened at $184.95 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. The firm has a market capitalization of $152.78 billion, a price-to-earnings ratio of 27.04, a P/E/G ratio of 1.51 and a beta of 1.11. The company’s fifty day moving average is $181.24 and its two-hundred day moving average is $184.13. Southern Copper Corporation has a 52-week low of $89.87 and a 52-week high of $223.88.

Southern Copper’s stock is set to split on the morning of Tuesday, August 11th. The 1.012-1 split was recently announced. The newly issued shares will be payable to shareholders after the market closes on Monday, August 10th.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. Southern Copper had a net margin of 35.87% and a return on equity of 50.74%. The business had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.37 billion. The business’s quarterly revenue was up 40.6% compared to the same quarter last year. Equities research analysts forecast that Southern Copper Corporation will post 7.63 EPS for the current year.

Southern Copper Increases Dividend

The company also recently declared 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. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $4.40 annualized dividend and a yield of 2.4%. Southern Copper’s payout ratio is currently 64.33%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Zacks Research raised shares of Southern Copper from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Morgan Stanley lifted their price objective on Southern Copper from $146.00 to $158.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 8th. Wall Street Zen raised Southern Copper from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Citigroup restated a “positive” rating on shares of Southern Copper in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. raised their target price on Southern Copper from $127.00 to $131.50 and gave the company an “underweight” rating in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $148.60.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the sale, the director owned 1,807 shares in the company, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 504 shares of company stock valued at $92,008. 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.