Southern Copper Corporation $SCCO Shares Acquired by RFG Advisory LLC

RFG Advisory LLC lifted its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 143.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 21,727 shares of the basic materials company’s stock after buying an additional 12,811 shares during the quarter. RFG Advisory LLC’s holdings in Southern Copper were worth $3,786,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SCCO. California State Teachers Retirement System increased its holdings in shares of Southern Copper by 8,035.9% in the 2nd quarter. California State Teachers Retirement System now owns 20,545,080 shares of the basic materials company’s stock valued at $3,580,186,000 after acquiring an additional 20,292,556 shares during the last quarter. BlackRock Inc. bought a new position in Southern Copper during the second quarter worth $1,729,500,000. State Street Corp lifted its stake in Southern Copper by 2.4% during the fourth quarter. State Street Corp now owns 2,862,244 shares of the basic materials company’s stock worth $410,646,000 after purchasing an additional 66,268 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Southern Copper by 0.3% in the fourth quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company’s stock worth $363,873,000 after purchasing an additional 7,194 shares during the period. Finally, Bank of America Corp DE acquired a new position in Southern Copper in the second quarter worth $318,448,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Ratings Changes

SCCO has been the topic of a number of research reports. Weiss Ratings raised shares of Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Wells Fargo & Company lifted their price target on shares of Southern Copper from $168.97 to $169.96 and gave the company an “equal weight” rating in a report on Thursday, July 9th. UBS Group reaffirmed a “sell” rating and set a $158.10 price objective (up from $143.28) on shares of Southern Copper in a research report on Tuesday, June 30th. Scotiabank restated an “underperform” rating and issued a $138.34 target price (up from $133.40) on shares of Southern Copper in a research note on Monday, June 15th. Finally, CICC Research cut Southern Copper to a “market perform” rating in a research report on Sunday, July 26th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $146.84.

Southern Copper Trading Up 0.6%

Shares of NYSE:SCCO opened at $209.76 on Thursday. The company has a quick ratio of 4.56, a current ratio of 5.06 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $189.67 and its 200 day moving average price is $184.30. The company has a market cap of $175.01 billion, a PE ratio of 30.67, a P/E/G ratio of 1.92 and a beta of 1.14. Southern Copper Corporation has a fifty-two week low of $100.43 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 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 business’s revenue was up 40.6% compared to the same quarter last year. Sell-side analysts anticipate that Southern Copper Corporation will post 7.59 earnings per share for the current year.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 11th were given a $1.10 dividend. The ex-dividend date was Tuesday, August 11th. This represents a $4.40 annualized dividend and a yield of 2.1%. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s payout ratio is 64.33%.

Insider Buying and Selling

In other Southern Copper news, Director Luis Palomino Bonilla 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 transaction of $39,751.28. Following the sale, the director owned 1,723 shares of the company’s stock, valued at $339,066.65. The trade was a 10.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 504 shares of company stock valued at $97,077. 0.07% of the stock is owned by company insiders.

About Southern Copper

Southern Copper Corporation (NYSE: SCCO) is an integrated copper producer engaged in the exploration, mining, processing, smelting and refining of minerals. The company produces copper in the form of cathodes, concentrates and anodes, along with byproducts including molybdenum, zinc, silver, lead and sulfuric acid.

Southern Copper operates mining and processing facilities in Mexico and Peru. Its principal Mexican operations include the Buenavista del Cobre and La Caridad mining complexes, while its Peruvian operations include the Toquepala and Cuajone mines and the Ilo smelter and refinery.