United Capital Financial Advisors LLC Acquires Shares of 6,381 Southern Copper Corporation $SCCO

United Capital Financial Advisors LLC bought a new stake in shares of Southern Copper Corporation (NYSE:SCCO) in the second quarter, Holdings Channel reports. The fund bought 6,381 shares of the basic materials company’s stock, valued at approximately $1,099,000.

Several other hedge funds have also bought and sold shares of the stock. SHP Wealth Management purchased a new stake in Southern Copper during the fourth quarter worth $25,000. Bell Investment Advisors Inc purchased a new stake in Southern Copper during the 2nd quarter worth approximately $26,000. Rakuten Securities Inc. purchased a new stake in shares of Southern Copper during the second quarter worth approximately $28,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Southern Copper in the fourth quarter valued at about $29,000. Finally, Virtus Advisers LLC acquired a new stake in Southern Copper in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Down 2.2%

NYSE SCCO opened at $211.58 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.56 and a current ratio of 5.06. The firm has a market cap of $176.53 billion, a PE ratio of 30.93, a P/E/G ratio of 1.80 and a beta of 1.11. Southern Copper Corporation has a one year low of $92.94 and a one year high of $223.88. The firm’s fifty day moving average is $184.67 and its two-hundred day moving average is $183.92.

Southern Copper (NYSE:SCCO) last announced its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.06. The business had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. Analysts expect that Southern Copper Corporation will post 7.61 earnings per share for the current year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were paid a $1.10 dividend. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date was Tuesday, August 11th. This represents a $4.40 annualized dividend and a dividend yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is 64.33%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Southern Copper from $168.97 to $169.96 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Wall Street Zen cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Citigroup reissued a “positive” rating on shares of Southern Copper in a research note on Wednesday, July 15th. Scotiabank restated an “underperform” rating and issued a $138.34 price objective (up from $133.40) on shares of Southern Copper in a report on Monday, June 15th. Finally, CICC Research cut Southern Copper to a “market perform” rating in a research note on Sunday, July 26th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $146.84.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 202 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total value of $39,751.28. Following the transaction, the director owned 1,723 shares of the company’s stock, valued at approximately $339,066.65. The trade was a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 509 shares of company stock valued at $97,753. Company insiders own 0.07% of the company’s stock.

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.