4,991 Shares in Southern Copper Corporation $SCCO Acquired by Fund Advisors of America Inc FL

Fund Advisors of America Inc FL bought a new stake in Southern Copper Corporation (NYSE:SCCO) during the second quarter, Holdings Channel.com reports. The fund bought 4,991 shares of the basic materials company’s stock, valued at approximately $870,000.

Several other hedge funds have also bought and sold shares of SCCO. Cauble & Harre Wealth Management Inc. purchased a new position in Southern Copper in the 2nd quarter worth approximately $490,000. Allworth Financial LP bought a new position in shares of Southern Copper in the 2nd quarter worth $1,712,000. B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of Southern Copper during the 2nd quarter valued at $5,266,000. Virtus Advisers LLC purchased a new stake in shares of Southern Copper during the 2nd quarter valued at $873,000. Finally, Oxford Financial Group LTD. LLC bought a new stake in shares of Southern Copper during the 2nd quarter worth $870,000. 7.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 202 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $196.79, for a total transaction of $39,751.28. Following the completion of the sale, the director directly owned 1,723 shares in the company, valued at $339,066.65. This represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 509 shares of company stock valued at $97,753 over the last ninety days. Insiders own 0.07% of the company’s stock.

Southern Copper Trading Up 8.8%

SCCO stock opened at $216.30 on Friday. The company has a market capitalization of $180.47 billion, a PE ratio of 31.62, a price-to-earnings-growth ratio of 1.70 and a beta of 1.11. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.56 and a current ratio of 5.06. Southern Copper Corporation has a one year low of $92.94 and a one year high of $223.88. The company’s 50 day moving average price is $182.23 and its two-hundred day moving average price is $183.20.

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

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be paid a $1.10 dividend. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, August 11th. Southern Copper’s payout ratio is presently 64.33%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SCCO. Barclays set a $164.03 target price on shares of Southern Copper and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. Weiss Ratings upgraded Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Wells Fargo & Company lifted their price target on Southern Copper from $168.97 to $169.96 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Scotiabank reiterated an “underperform” rating and issued a $138.34 price objective (up from $133.40) on shares of Southern Copper in a report on Monday, June 15th. Finally, UBS Group reiterated a “sell” rating and issued a $158.10 price objective (up from $143.28) on shares of Southern Copper in a report on Tuesday, June 30th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have given a Sell rating to the company’s stock. Based on data from MarketBeat, Southern Copper currently has a consensus rating of “Reduce” and a consensus 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.