CenterBook Partners LP Makes New Investment in Southern Copper Corporation $SCCO

CenterBook Partners LP bought a new position in shares of Southern Copper Corporation (NYSE:SCCO) in the 4th quarter, HoldingsChannel.com reports. The fund bought 10,208 shares of the basic materials company’s stock, valued at approximately $1,465,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lloyd Advisory Services LLC. acquired a new stake in Southern Copper during the fourth quarter worth $29,000. Godfrey Financial Associates Inc. acquired a new stake in Southern Copper during the fourth quarter worth $30,000. IFP Advisors Inc increased its stake in Southern Copper by 233.3% during the fourth quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 161 shares during the last quarter. Caitlin John LLC acquired a new stake in Southern Copper during the third quarter worth $30,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Southern Copper during the fourth quarter worth $37,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction on 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 directly owned 1,807 shares in the company, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 597 shares of company stock valued at $107,806 in the last ninety days. Company insiders own 0.07% of the company’s stock.

Southern Copper Trading Down 4.3%

NYSE:SCCO opened at $167.59 on Thursday. The firm has a market cap of $137.27 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 1.65 and a beta of 1.09. The stock has a fifty day moving average price of $182.95 and a 200 day moving average price of $174.69. Southern Copper Corporation has a 12-month low of $88.73 and a 12-month high of $223.88. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57.

Southern Copper (NYSE:SCCO) last released its earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. The firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $3.96 billion. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%. Sell-side analysts anticipate that Southern Copper Corporation will post 7.25 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were issued a $1.00 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $4.00 dividend on an annualized basis and a yield of 2.4%. Southern Copper’s dividend payout ratio (DPR) is 66.12%.

Wall Street Analyst Weigh In

Several research firms have recently commented on SCCO. Barclays began coverage on Southern Copper in a research report on Thursday, May 21st. They set an “underweight” rating and a $148.00 price target for the company. Scotiabank restated an “underperform” rating and set a $135.00 price target (up from $133.00) on shares of Southern Copper in a research report on Friday, May 15th. Wells Fargo & Company set a $171.00 price target on Southern Copper and gave the stock an “equal weight” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. raised their price target on Southern Copper from $117.50 to $127.00 and gave the stock an “underweight” rating in a research report on Friday, April 10th. Finally, 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 report on Friday, April 10th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $145.14.

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.