Randolph Co Inc Raises Stock Position in Southern Copper Corporation $SCCO

Randolph Co Inc grew its holdings in Southern Copper Corporation (NYSE:SCCO) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 201,065 shares of the basic materials company’s stock after acquiring an additional 3,289 shares during the period. Southern Copper comprises about 2.4% of Randolph Co Inc’s investment portfolio, making the stock its 22nd biggest position. Randolph Co Inc’s holdings in Southern Copper were worth $24,401,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SCCO. MJT & Associates Financial Advisory Group Inc. lifted its stake 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 purchasing an additional 84 shares during the last quarter. Tobam purchased a new stake in shares of Southern Copper in the second quarter worth approximately $29,000. Westside Investment Management Inc. bought a new stake in shares of Southern Copper during the 2nd quarter worth approximately $32,000. Allworth Financial LP boosted its holdings in Southern Copper by 65.1% during the 2nd quarter. Allworth Financial LP now owns 383 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 151 shares during the period. Finally, AlphaCore Capital LLC grew its position in Southern Copper by 148.9% in the 2nd quarter. AlphaCore Capital LLC now owns 433 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 259 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 400 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $139.00, for a total value of $55,600.00. Following the sale, the director owned 1,265 shares of the company’s stock, valued at approximately $175,835. This represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 948 shares of company stock worth $131,130 over the last ninety days. Insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SCCO shares. Morgan Stanley set a $138.00 target price on shares of Southern Copper and gave the company an “underweight” rating in a research note on Monday, December 15th. JPMorgan Chase & Co. boosted their price objective on shares of Southern Copper from $114.50 to $119.50 and gave the company a “neutral” rating in a research report on Thursday, December 18th. HSBC reaffirmed a “hold” rating and set a $118.00 target price (up from $105.00) on shares of Southern Copper in a research report on Friday, October 17th. Jefferies Financial Group set a $155.00 price target on Southern Copper and gave the company a “buy” rating in a report on Monday, October 6th. Finally, Zacks Research cut Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $127.65.

Southern Copper Trading Up 3.2%

NYSE:SCCO opened at $176.02 on Tuesday. Southern Copper Corporation has a 12-month low of $74.84 and a 12-month high of $177.39. The company has a current ratio of 4.52, a quick ratio of 3.91 and a debt-to-equity ratio of 0.64. The stock’s 50 day simple moving average is $141.15 and its 200-day simple moving average is $120.48. The firm has a market cap of $142.96 billion, a P/E ratio of 36.90, a PEG ratio of 1.44 and a beta of 1.06.

Southern Copper (NYSE:SCCO) last issued its earnings results on Friday, October 31st. The basic materials company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.09. Southern Copper had a net margin of 30.98% and a return on equity of 38.74%. The business had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.05 billion. Equities analysts anticipate that Southern Copper Corporation will post 4.66 EPS for the current year.

Southern Copper Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Wednesday, November 12th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $3.60 annualized dividend and a yield of 2.0%. Southern Copper’s payout ratio is currently 75.47%.

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.