KCM Investment Advisors LLC Has $11.50 Million Stake in Southern Copper Corporation $SCCO

KCM Investment Advisors LLC grew its position in Southern Copper Corporation (NYSE:SCCO) by 6.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 80,131 shares of the basic materials company’s stock after purchasing an additional 4,694 shares during the period. KCM Investment Advisors LLC’s holdings in Southern Copper were worth $11,496,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in SCCO. Capital World Investors grew its position in shares of Southern Copper by 36.1% in the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock valued at $781,268,000 after purchasing an additional 1,708,693 shares during the last quarter. Norges Bank acquired a new position in shares of Southern Copper in the fourth quarter valued at approximately $97,645,000. Capital Research Global Investors acquired a new position in shares of Southern Copper in the fourth quarter valued at approximately $81,039,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Southern Copper in the fourth quarter valued at approximately $46,560,000. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Southern Copper in the fourth quarter valued at approximately $35,095,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00. Following the completion of the transaction, the director directly owned 1,807 shares in the company, valued at approximately $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 404 shares of company stock worth $74,108 in the last three months. 0.07% of the stock is currently owned by corporate insiders.

Southern Copper Stock Up 4.2%

Shares of SCCO opened at $189.72 on Friday. Southern Copper Corporation has a one year low of $88.73 and a one year high of $223.88. The company has a market cap of $155.40 billion, a P/E ratio of 31.36, a P/E/G ratio of 1.79 and a beta of 1.09. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. The firm has a 50 day simple moving average of $183.38 and a two-hundred day simple moving average of $175.21.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.04. The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $3.96 billion. Southern Copper had a net margin of 34.13% and a return on equity of 45.63%. Research analysts forecast that Southern Copper Corporation will post 7.25 EPS for the current fiscal year.

Southern Copper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were issued a dividend of $1.00 per share. The ex-dividend date was Wednesday, May 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. Southern Copper’s dividend payout ratio is 66.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. UBS Group boosted their price target on Southern Copper from $140.00 to $145.00 and gave the company a “sell” rating in a research note on Thursday, May 21st. The Goldman Sachs Group upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target for the company in a research note on Friday, April 10th. Bank of America cut Southern Copper from a “neutral” rating to an “underperform” rating and boosted their price target for the company from $162.00 to $175.00 in a research note on Thursday, February 26th. Barclays assumed coverage on Southern Copper in a research note on Thursday, May 21st. They issued an “underweight” rating and a $148.00 price target for the company. Finally, Scotiabank reiterated an “underperform” rating and issued a $135.00 price target (up from $133.00) on shares of Southern Copper in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $145.14.

Southern Copper 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.