Sanctuary Advisors LLC Makes New Investment in Southern Copper Corporation $SCCO

Sanctuary Advisors LLC acquired a new position in shares of Southern Copper Corporation (NYSE:SCCO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 18,599 shares of the basic materials company’s stock, valued at approximately $3,241,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. acquired a new position in Southern Copper in the second quarter valued at $1,729,500,000. Bank of New York Mellon Corp acquired a new stake in Southern Copper in the 2nd quarter worth about $696,621,000. State Street Corp boosted its stake in Southern Copper by 2.4% in the 4th quarter. State Street Corp now owns 2,862,244 shares of the basic materials company’s stock worth $410,646,000 after buying an additional 66,268 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Southern Copper by 0.3% in the 4th quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company’s stock valued at $363,873,000 after buying an additional 7,194 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Southern Copper by 8.3% in the 4th 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 buying an additional 90,237 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

SCCO opened at $219.70 on Wednesday. The company has a fifty day simple moving average of $183.24 and a 200 day simple moving average of $183.38. The firm has a market cap of $183.30 billion, a price-to-earnings ratio of 32.12, a PEG ratio of 1.84 and a beta of 1.11. Southern Copper Corporation has a twelve month low of $92.94 and a twelve 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.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $4.37 billion. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. Equities research analysts expect 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. Stockholders of record on Tuesday, August 11th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This is a positive change 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 2.0%. Southern Copper’s dividend payout ratio is presently 64.33%.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 202 shares of Southern Copper stock in a transaction dated 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 directly owned 1,723 shares of the company’s stock, valued at approximately $339,066.65. The trade was a 10.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 509 shares of company stock worth $97,753 over the last 90 days. 0.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SCCO has been the topic of several recent analyst reports. Scotiabank reiterated an “underperform” rating and set a $138.34 price objective (up from $133.40) on shares of Southern Copper in a report on Monday, June 15th. CICC Research downgraded shares of Southern Copper to a “market perform” rating in a report on Sunday, July 26th. Wells Fargo & Company upped their price target on shares of Southern Copper from $168.97 to $169.96 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. 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. Finally, Zacks Research lowered shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $146.84.

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.