Two Sigma Securities LLC Makes New $611,000 Investment in Southern Copper Corporation $SCCO

Two Sigma Securities LLC bought a new stake in Southern Copper Corporation (NYSE:SCCO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,506 shares of the basic materials company’s stock, valued at approximately $611,000.

Other large investors have also made changes to their positions in the company. Benjamin Edwards Inc. boosted its holdings in Southern Copper by 4.1% in the second quarter. Benjamin Edwards Inc. now owns 10,136 shares of the basic materials company’s stock valued at $1,766,000 after acquiring an additional 398 shares during the last quarter. Capital Advisors Inc. OK lifted its position in Southern Copper by 0.8% during the 2nd quarter. Capital Advisors Inc. OK now owns 182,683 shares of the basic materials company’s stock valued at $31,834,000 after purchasing an additional 1,378 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Southern Copper by 2.2% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,290,648 shares of the basic materials company’s stock valued at $224,908,000 after purchasing an additional 27,744 shares during the period. Royal London Asset Management Ltd. boosted its stake in shares of Southern Copper by 5.5% in the 2nd quarter. Royal London Asset Management Ltd. now owns 146,392 shares of the basic materials company’s stock valued at $25,510,000 after purchasing an additional 7,572 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Southern Copper by 7.0% during the 2nd quarter. Van ECK Associates Corp now owns 186,890 shares of the basic materials company’s stock worth $32,567,000 after buying an additional 12,255 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of Southern Copper stock opened at $200.97 on Wednesday. Southern Copper Corporation has a one year low of $92.94 and a one year high of $223.88. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.06 and a quick ratio of 4.56. The stock’s 50-day moving average is $185.60 and its 200-day moving average is $183.84. The firm has a market cap of $167.68 billion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 1.79 and a beta of 1.14.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.06. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The company had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.37 billion. The company’s revenue was up 40.6% compared to the same quarter last year. Equities 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 announced a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were 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 dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, August 11th. Southern Copper’s payout ratio is 64.33%.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 202 shares of Southern Copper stock in a transaction that occurred 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 of the company’s stock, valued at $339,066.65. This trade represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 408 shares of company stock valued at $77,793. 0.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SCCO shares. Wells Fargo & Company raised their price target on Southern Copper from $168.97 to $169.96 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. increased their target price on Southern Copper from $125.49 to $129.94 and gave the company an “underweight” rating in a research note on Wednesday, June 17th. Weiss Ratings upgraded Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Wall Street Zen cut Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Morgan Stanley increased their price target on shares of Southern Copper from $144.27 to $156.13 and gave the company an “underweight” rating in a research report on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus 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.