Brasada Capital Management LP Invests $630,000 in Southern Copper Corporation $SCCO

Brasada Capital Management LP bought a new stake in shares of Southern Copper Corporation (NYSE:SCCO) in the second quarter, Holdings Channel reports. The institutional investor bought 3,613 shares of the basic materials company’s stock, valued at approximately $630,000.

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

Southern Copper Stock Performance

SCCO stock opened at $216.79 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.06 and a quick ratio of 4.56. Southern Copper Corporation has a 1-year low of $92.94 and a 1-year high of $223.88. The business has a 50-day moving average price of $184.25 and a 200 day moving average price of $183.72. The company has a market capitalization of $180.87 billion, a P/E ratio of 31.69, a PEG ratio of 1.83 and a beta of 1.11.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.06. The company had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The firm’s revenue was up 40.6% on a year-over-year basis. As a group, equities research analysts forecast that Southern Copper Corporation will post 7.61 EPS for the current fiscal 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 given a dividend of $1.10 per share. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $4.40 annualized dividend and a yield of 2.0%. Southern Copper’s payout ratio is 64.33%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SCCO shares. Wall Street Zen lowered Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Citigroup reaffirmed a “positive” rating on shares of Southern Copper in a research note on Wednesday, July 15th. Weiss Ratings upgraded shares of Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Zacks Research cut shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, CICC Research downgraded shares of 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 given a Hold rating and seven have assigned a Sell rating to the stock. According to MarketBeat, Southern Copper presently has an average rating of “Reduce” and an average price target of $146.84.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 202 shares of Southern Copper stock in a transaction 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 directly owned 1,723 shares in the company, valued at approximately $339,066.65. This trade represents a 10.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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.

Southern Copper 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.