Nan Shan Life Insurance Co. Ltd. Acquires New Shares in Southern Copper Corporation $SCCO

Nan Shan Life Insurance Co. Ltd. acquired a new stake in shares of Southern Copper Corporation (NYSE:SCCO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 32,800 shares of the basic materials company’s stock, valued at approximately $5,716,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in Southern Copper by 42.1% in the first quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company’s stock valued at $4,194,000 after buying an additional 13,293 shares during the last quarter. Empowered Funds LLC grew its position in shares of Southern Copper by 17.9% during the first quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company’s stock worth $627,000 after acquiring an additional 1,020 shares during the last quarter. Focus Partners Wealth grew its position in shares of Southern Copper by 21.5% during the first quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company’s stock worth $556,000 after acquiring an additional 1,052 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Southern Copper by 37.4% in the 2nd quarter. First Trust Advisors LP now owns 73,379 shares of the basic materials company’s stock worth $7,424,000 after acquiring an additional 19,957 shares during the period. Finally, Baird Financial Group Inc. increased its holdings in shares of Southern Copper by 17.7% in the 2nd quarter. Baird Financial Group Inc. now owns 4,864 shares of the basic materials company’s stock worth $492,000 after acquiring an additional 731 shares during the period. 7.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Bonilla Luis Miguel Palomino sold 202 shares of the business’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 sale, the director owned 1,723 shares of the company’s stock, valued at $339,066.65. The trade was a 10.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 408 shares of company stock worth $77,793 over the last quarter. 0.07% of the stock is owned by insiders.

Southern Copper Stock Performance

SCCO stock opened at $200.97 on Wednesday. The company has a 50-day simple moving average of $185.60 and a 200 day simple moving average of $183.84. The company has a market capitalization of $167.68 billion, a P/E ratio of 29.38, a PEG ratio of 1.79 and a beta of 1.14. The company has a quick ratio of 4.56, a current ratio of 5.06 and a debt-to-equity ratio of 0.63. Southern Copper Corporation has a fifty-two week low of $92.94 and a fifty-two week high of $223.88.

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

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 11th were paid a dividend of $1.10 per share. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Tuesday, August 11th. Southern Copper’s dividend payout ratio (DPR) is 64.33%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SCCO. Wells Fargo & Company boosted their target price on shares of Southern Copper from $168.97 to $169.96 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Citigroup restated a “positive” rating on shares of Southern Copper in a research note on Wednesday, July 15th. CICC Research cut Southern Copper to a “market perform” rating in a report on Sunday, July 26th. Barclays set a $164.03 price objective on Southern Copper and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. Finally, Scotiabank restated an “underperform” rating and issued a $138.34 target price (up from $133.40) on shares of Southern Copper in a research report on Monday, June 15th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat.com, Southern Copper presently has a consensus rating of “Reduce” and an average price target of $146.84.

About Southern Copper

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.