Southern Copper Corporation $SCCO Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. raised its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 19.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 412,868 shares of the basic materials company’s stock after acquiring an additional 68,518 shares during the quarter. Pacer Advisors Inc. owned approximately 0.05% of Southern Copper worth $71,038,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its position in shares of Southern Copper by 896.1% in the first quarter. Empowered Funds LLC now owns 50,422 shares of the basic materials company’s stock valued at $8,676,000 after purchasing an additional 45,360 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Southern Copper by 3.8% during the 1st quarter. Parallel Advisors LLC now owns 4,816 shares of the basic materials company’s stock worth $829,000 after purchasing an additional 178 shares during the last quarter. BankChampaign National Association purchased a new stake in Southern Copper in the 1st quarter valued at approximately $600,000. Amundi lifted its stake in Southern Copper by 3.6% in the 1st quarter. Amundi now owns 449,320 shares of the basic materials company’s stock valued at $77,310,000 after buying an additional 15,664 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Southern Copper by 41.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,646 shares of the basic materials company’s stock valued at $972,000 after buying an additional 1,667 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Ratings Changes

SCCO has been the subject of several recent research reports. CICC Research downgraded Southern Copper to a “market perform” rating in a research report on Sunday, July 26th. Morgan Stanley upped their price objective on Southern Copper from $146.00 to $158.00 and gave the company an “underweight” rating in a research report on Wednesday, July 8th. The Goldman Sachs Group raised Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective on the stock in a research note on Friday, April 10th. Barclays set a $166.00 price objective on Southern Copper and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. Finally, Citigroup reissued a “positive” rating on shares of Southern Copper in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $148.60.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the transaction, the director directly owned 1,807 shares in the company, valued at approximately $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 504 shares of company stock worth $92,008 in the last quarter. Corporate insiders own 0.07% of the company’s stock.

Southern Copper Stock Up 0.0%

SCCO stock opened at $182.79 on Monday. The company has a 50 day moving average price of $181.30 and a two-hundred day moving average price of $184.19. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. The stock has a market capitalization of $150.99 billion, a P/E ratio of 26.72, a PEG ratio of 1.57 and a beta of 1.11. Southern Copper Corporation has a one year low of $89.87 and a one year high of $223.88.

Southern Copper shares are 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 quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. Southern Copper had a return on equity of 50.74% and a net margin of 35.87%.The company had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.37 billion. The company’s quarterly revenue was up 40.6% on a year-over-year basis. As a group, sell-side analysts expect that Southern Copper Corporation will post 7.63 EPS for the current year.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be paid a $1.10 dividend. The ex-dividend date is Tuesday, August 11th. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a yield of 2.4%. Southern Copper’s payout ratio is currently 64.33%.

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.