86,509 Shares in Southern Copper Corporation $SCCO Bought by Nykredit A S

Nykredit A S bought a new position in shares of Southern Copper Corporation (NYSE:SCCO) in the 2nd quarter, Holdings Channel.com reports. The firm bought 86,509 shares of the basic materials company’s stock, valued at approximately $15,075,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Intech Investment Management LLC lifted its position in shares of Southern Copper by 0.8% in the fourth quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company’s stock worth $865,000 after buying an additional 50 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in Southern Copper by 0.8% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,072 shares of the basic materials company’s stock valued at $871,000 after acquiring an additional 51 shares during the last quarter. Steel Grove Capital Advisors LLC raised its position in Southern Copper by 1.8% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company’s stock worth $417,000 after purchasing an additional 52 shares during the period. Emergent Wealth Advisors LLC boosted its position in shares of Southern Copper by 1.0% during the second quarter. Emergent Wealth Advisors LLC now owns 5,366 shares of the basic materials company’s stock valued at $935,000 after buying an additional 53 shares during the period. Finally, Ensign Peak Advisors Inc grew its stake in shares of Southern Copper by 0.8% during the fourth quarter. Ensign Peak Advisors Inc now owns 6,379 shares of the basic materials company’s stock valued at $915,000 after buying an additional 53 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Price Performance

Shares of SCCO opened at $198.17 on Friday. The business’s 50-day moving average is $187.43 and its two-hundred day moving average is $184.04. 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 company has a market capitalization of $165.34 billion, a P/E ratio of 28.97, a P/E/G ratio of 1.71 and a beta of 1.14. Southern Copper Corporation has a fifty-two week low of $99.87 and a fifty-two week high of $223.88.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.06. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The company had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.37 billion. The firm’s revenue was up 40.6% compared to the same quarter last year. Research analysts predict that Southern Copper Corporation will post 7.59 earnings per share for the current year.

Southern Copper Increases Dividend

The business also recently disclosed 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. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Tuesday, August 11th. Southern Copper’s dividend payout ratio (DPR) is currently 64.33%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Morgan Stanley increased their target price on Southern Copper from $144.27 to $156.13 and gave the stock an “underweight” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. increased their target price on Southern Copper from $125.49 to $129.94 and gave the company an “underweight” rating in a research report on Wednesday, June 17th. Wells Fargo & Company boosted 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 note on Thursday, July 9th. CICC Research lowered Southern Copper to a “market perform” rating in a research report on Sunday, July 26th. Finally, Weiss Ratings raised shares of Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have given a Sell rating to the company. Based on data from MarketBeat.com, Southern Copper currently has an average rating of “Reduce” and a consensus target price of $146.84.

Insider Buying and Selling at Southern Copper

In related news, Director Luis Palomino Bonilla sold 202 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were 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 of the company’s stock, valued at approximately $339,066.65. This trade represents a 10.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 404 shares of company stock worth $77,077. 0.07% of the stock is owned by corporate insiders.

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.