Southern Copper Corporation $SCCO Shares Bought by KCM Investment Advisors LLC

KCM Investment Advisors LLC raised its holdings in Southern Copper Corporation (NYSE:SCCO) by 7.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 86,082 shares of the basic materials company’s stock after buying an additional 5,951 shares during the quarter. KCM Investment Advisors LLC’s holdings in Southern Copper were worth $14,811,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Southern Copper by 2.4% during the fourth quarter. State Street Corp now owns 2,862,244 shares of the basic materials company’s stock valued at $410,646,000 after acquiring an additional 66,268 shares in the last quarter. Fisher Asset Management LLC grew its position in Southern Copper by 0.3% during the 4th quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company’s stock worth $363,873,000 after purchasing an additional 7,194 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Southern Copper by 8.3% during 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 worth $169,480,000 after purchasing an additional 90,237 shares during the last quarter. Vanguard Group Inc. increased its stake in Southern Copper by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 983,822 shares of the basic materials company’s stock valued at $141,149,000 after purchasing an additional 33,804 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Southern Copper by 1.5% during the 3rd quarter. Legal & General Group Plc now owns 955,924 shares of the basic materials company’s stock valued at $116,012,000 after purchasing an additional 14,212 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Down 0.0%

SCCO stock opened at $179.20 on Tuesday. The firm’s fifty day simple moving average is $180.91 and its 200-day simple moving average is $183.75. The company has a market capitalization of $148.03 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. Southern Copper Corporation has a 12 month low of $88.73 and a 12 month high of $223.88.

Southern Copper’s stock is scheduled to split on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly created shares will be distributed to shareholders after the closing bell on Monday, August 10th.

Southern Copper (NYSE:SCCO) last issued its earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.06. The firm had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 50.74%. The business’s revenue for the quarter was up 40.6% on a year-over-year basis. As a group, equities research analysts forecast that Southern Copper Corporation will post 7.63 earnings per share for the current year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, August 11th. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s dividend payout ratio (DPR) is 64.33%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SCCO. Citigroup reiterated a “positive” rating on shares of Southern Copper in a research note on Wednesday, July 15th. JPMorgan Chase & Co. raised their target price on Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a research note on Wednesday, June 17th. The Goldman Sachs Group raised Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target for the company in a research report on Friday, April 10th. Wells Fargo & Company boosted their price target on Southern Copper from $171.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Finally, Wall Street Zen raised Southern Copper from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $148.60.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the transaction, the director owned 1,807 shares of the company’s stock, valued at $321,320.74. The trade was a 9.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 404 shares of company stock valued at $74,108. Insiders own 0.07% of the company’s stock.

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.