Royal Fund Management LLC Trims Stock Position in Southern Copper Corporation $SCCO

Royal Fund Management LLC trimmed its position in Southern Copper Corporation (NYSE:SCCO) by 49.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,933 shares of the basic materials company’s stock after selling 13,371 shares during the quarter. Royal Fund Management LLC’s holdings in Southern Copper were worth $1,999,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Hopwood Financial Services Inc. purchased a new stake in shares of Southern Copper during the 3rd quarter valued at approximately $25,000. MJT & Associates Financial Advisory Group Inc. grew its position in Southern Copper by 65.1% in the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 84 shares during the period. United Community Bank purchased a new position in Southern Copper in the third quarter worth approximately $30,000. Caitlin John LLC acquired a new stake in Southern Copper during the third quarter worth $30,000. Finally, Covestor Ltd raised its position in Southern Copper by 30.4% in the third quarter. Covestor Ltd now owns 360 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Insider Activity

In related news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total transaction of $1,954,344.91. Following the sale, the director directly owned 605 shares of the company’s stock, valued at $126,783.04. This represents a 93.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bonilla Luis Miguel Palomino sold 193 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.60, for a total transaction of $33,697.80. Following the sale, the director directly owned 1,707 shares in the company, valued at approximately $298,042.20. The trade was a 10.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 9,526 shares of company stock worth $1,989,373 in the last three months. Corporate insiders own 0.07% of the company’s stock.

Southern Copper Trading Down 1.9%

SCCO opened at $158.99 on Tuesday. Southern Copper Corporation has a 52 week low of $74.84 and a 52 week high of $223.88. The company has a quick ratio of 3.40, a current ratio of 3.89 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $189.37 and a 200-day simple moving average of $154.56. The firm has a market cap of $130.23 billion, a P/E ratio of 29.88, a P/E/G ratio of 1.67 and a beta of 1.03.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Wednesday, January 28th. The basic materials company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.01. Southern Copper had a return on equity of 41.97% and a net margin of 32.30%.The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the previous year, the business earned $0.98 EPS. On average, equities analysts expect that Southern Copper Corporation will post 4.66 earnings per share for the current year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 10th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.5%. This is a boost from Southern Copper’s previous quarterly dividend of $0.90. The ex-dividend date was Tuesday, February 10th. Southern Copper’s payout ratio is currently 75.19%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SCCO. Citigroup reaffirmed a “sell” rating on shares of Southern Copper in a research note on Monday, January 12th. Scotiabank reissued an “underperform” rating on shares of Southern Copper in a research report on Tuesday, January 27th. Wall Street Zen upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Bank of America lowered shares of Southern Copper from a “neutral” rating to an “underperform” rating and increased their target price for the stock from $162.00 to $175.00 in a research note on Thursday, February 26th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $154.69 price target on shares of Southern Copper in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $139.20.

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.