one8zero8 LLC Takes $822,000 Position in Southern Copper Corporation $SCCO

one8zero8 LLC bought a new position in shares of Southern Copper Corporation (NYSE:SCCO) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,718 shares of the basic materials company’s stock, valued at approximately $822,000.

Several other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Southern Copper in the 2nd quarter valued at approximately $1,729,500,000. Bank of New York Mellon Corp acquired a new position in Southern Copper during the 2nd quarter worth approximately $696,621,000. State Street Corp grew its stake in shares of Southern Copper by 2.4% during the 4th quarter. State Street Corp now owns 2,862,244 shares of the basic materials company’s stock worth $410,646,000 after acquiring an additional 66,268 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Southern Copper by 0.3% during the 4th quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company’s stock worth $363,873,000 after acquiring an additional 7,194 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Southern Copper by 8.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,181,293 shares of the basic materials company’s stock valued at $169,480,000 after purchasing an additional 90,237 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Trading Up 3.6%

NYSE SCCO opened at $194.57 on Thursday. Southern Copper Corporation has a 12 month low of $92.57 and a 12 month high of $223.88. The company has a current ratio of 5.06, a quick ratio of 4.56 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average of $181.26 and a 200-day moving average of $182.88. The company has a market cap of $162.33 billion, a PE ratio of 28.45, a PEG ratio of 1.61 and a beta of 1.11.

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

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, August 11th. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s payout ratio is presently 64.33%.

Wall Street Analysts Forecast Growth

SCCO has been the topic of a number of research reports. UBS Group reissued a “sell” rating and issued a $158.10 price objective (up from $143.28) on shares of Southern Copper in a research report on Tuesday, June 30th. CICC Research lowered shares of Southern Copper to a “market perform” rating in a research note on Sunday, July 26th. Weiss Ratings raised shares of Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Wall Street Zen downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Scotiabank restated 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. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat.com, Southern Copper currently has an average rating of “Reduce” and an average target price of $146.84.

Insider Buying and Selling at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 202 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $196.79, for a total value of $39,751.28. Following the transaction, the director directly owned 1,723 shares in the company, valued at $339,066.65. The trade was a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 509 shares of company stock worth $97,753. 0.07% of the stock is currently owned by insiders.

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.