Southern Copper Corporation $SCCO Position Boosted by US Bancorp DE

US Bancorp DE lifted its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 16.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 74,484 shares of the basic materials company’s stock after purchasing an additional 10,360 shares during the period. US Bancorp DE’s holdings in Southern Copper were worth $10,687,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Rakuten Investment Management Inc. purchased a new stake in Southern Copper in the 3rd quarter worth about $2,976,000. Nordea Investment Management AB lifted its stake in Southern Copper by 5.7% in the 3rd quarter. Nordea Investment Management AB now owns 148,484 shares of the basic materials company’s stock worth $17,778,000 after acquiring an additional 7,995 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Southern Copper by 2,631.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,441 shares of the basic materials company’s stock worth $1,631,000 after acquiring an additional 12,949 shares in the last quarter. Alps Advisors Inc. lifted its stake in Southern Copper by 54.2% in the 3rd quarter. Alps Advisors Inc. now owns 35,647 shares of the basic materials company’s stock worth $4,326,000 after acquiring an additional 12,532 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Southern Copper by 159.8% in the 3rd quarter. Principal Financial Group Inc. now owns 10,308 shares of the basic materials company’s stock worth $1,251,000 after acquiring an additional 6,341 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of SCCO stock opened at $171.08 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.89 and a quick ratio of 3.40. Southern Copper Corporation has a fifty-two week low of $86.59 and a fifty-two week high of $223.88. The stock’s 50-day moving average is $184.14 and its two-hundred day moving average is $164.67. The firm has a market cap of $140.13 billion, a P/E ratio of 28.28, a PEG ratio of 1.73 and a beta of 1.07.

Southern Copper’s stock is going to split on the morning of Wednesday, May 13th. The 1.01-1 split was recently announced. The newly issued shares will be payable to shareholders after the market closes on Tuesday, May 12th.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $3.96 billion. Southern Copper had a return on equity of 47.03% and a net margin of 34.13%. Analysts predict that Southern Copper Corporation will post 6.77 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.3%. Southern Copper’s dividend payout ratio is currently 66.12%.

Analysts Set New Price Targets

SCCO has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on Southern Copper from $117.50 to $127.00 and gave the stock an “underweight” rating in a research report on Friday, April 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a research report on Friday, March 27th. Wall Street Zen raised Southern Copper from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Scotiabank reaffirmed an “underperform” rating and issued a $133.00 target price (up from $125.00) on shares of Southern Copper in a research report on Thursday, April 23rd. Finally, UBS Group dropped their target price on Southern Copper from $150.00 to $140.00 and set a “sell” rating on the stock in a research report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $144.25.

Insider Transactions at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 193 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $174.60, for a total transaction of $33,697.80. Following the transaction, the director owned 1,707 shares of the company’s stock, valued at approximately $298,042.20. This represents a 10.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total value of $1,954,344.91. Following the transaction, the director directly owned 605 shares in the company, valued at approximately $126,783.04. This represents a 93.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 9,526 shares of company stock worth $1,989,373. 0.07% of the stock is currently owned by insiders.

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.