Quantinno Capital Management LP Boosts Holdings in Southern Copper Corporation $SCCO

Quantinno Capital Management LP grew its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 15.3% during the first quarter, HoldingsChannel reports. The firm owned 51,044 shares of the basic materials company’s stock after purchasing an additional 6,789 shares during the quarter. Quantinno Capital Management LP’s holdings in Southern Copper were worth $8,783,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Gateway Wealth Partners LLC bought a new stake in Southern Copper during the 1st quarter valued at approximately $244,000. OMERS ADMINISTRATION Corp lifted its stake in shares of Southern Copper by 1.4% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 8,525 shares of the basic materials company’s stock valued at $1,467,000 after purchasing an additional 119 shares during the period. Themes Management Co LLC lifted its stake in shares of Southern Copper by 91.1% in the 1st quarter. Themes Management Co LLC now owns 5,273 shares of the basic materials company’s stock valued at $907,000 after purchasing an additional 2,513 shares during the period. Entropy Technologies LP bought a new stake in shares of Southern Copper during the first quarter valued at approximately $4,223,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Southern Copper in the first quarter worth $85,342,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on SCCO shares. Morgan Stanley raised their price objective on Southern Copper from $146.00 to $158.00 and gave the company an “underweight” rating in a research report on Wednesday, July 8th. Weiss Ratings raised shares of Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. The Goldman Sachs Group upgraded shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective on the stock in a report on Friday, April 10th. Barclays set a $166.00 target price on shares of Southern Copper and gave the company an “underweight” rating in a report on Thursday, July 23rd. Finally, Scotiabank restated an “underperform” rating and issued a $140.00 price target (up from $135.00) on shares of Southern Copper in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat.com, Southern Copper currently has a consensus rating of “Reduce” and a consensus price target of $148.60.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction dated 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 $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 504 shares of company stock valued at $92,008 in the last three months. Corporate insiders own 0.07% of the company’s stock.

Southern Copper Stock Up 5.2%

SCCO stock opened at $195.56 on Wednesday. The business’s 50-day moving average is $181.54 and its two-hundred day moving average is $184.40. The company has a market cap of $161.55 billion, a price-to-earnings ratio of 28.59, a P/E/G ratio of 1.60 and a beta of 1.11. Southern Copper Corporation has a fifty-two week low of $92.55 and a fifty-two week high of $223.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.89 and a current ratio of 5.06.

Southern Copper’s stock is scheduled to split before the market opens on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly created shares will be distributed to shareholders after the closing bell on Monday, August 10th.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. The company had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The company’s revenue was up 40.6% on a year-over-year basis. As a group, analysts forecast that Southern Copper Corporation will post 7.63 earnings per share for the current year.

Southern Copper Increases Dividend

The business 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 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 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, August 11th. Southern Copper’s dividend payout ratio is presently 58.48%.

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.