Southern Copper Corporation $SCCO Stock Holdings Lifted by Sei Investments Co.

Sei Investments Co. boosted its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 44.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 450,018 shares of the basic materials company’s stock after acquiring an additional 139,202 shares during the quarter. Sei Investments Co.’s holdings in Southern Copper were worth $77,430,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCCO. First Trust Advisors LP lifted its stake in Southern Copper by 7.7% in the first quarter. First Trust Advisors LP now owns 118,171 shares of the basic materials company’s stock valued at $20,332,000 after acquiring an additional 8,479 shares during the last quarter. Temasek Holdings Private Ltd increased its stake in shares of Southern Copper by 9.9% during the 1st quarter. Temasek Holdings Private Ltd now owns 270,277 shares of the basic materials company’s stock worth $46,504,000 after purchasing an additional 24,417 shares during the last quarter. Cadence Wealth Management LLC increased its stake in shares of Southern Copper by 4.2% during the 1st quarter. Cadence Wealth Management LLC now owns 3,702 shares of the basic materials company’s stock worth $637,000 after purchasing an additional 150 shares during the last quarter. Bellwether Advisors LLC bought a new position in shares of Southern Copper during the 1st quarter valued at $2,820,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Southern Copper by 25.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 19,242 shares of the basic materials company’s stock valued at $3,311,000 after purchasing an additional 3,929 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the transaction, the director directly owned 1,807 shares in the company, valued at approximately $321,320.74. The trade was 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 404 shares of company stock valued at $74,108 over the last 90 days. Company insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SCCO shares. JPMorgan Chase & Co. upped their price objective on shares of Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a report on Wednesday, June 17th. Wells Fargo & Company increased their target price on shares of Southern Copper from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. The Goldman Sachs Group upgraded Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 target price on the stock in a report on Friday, April 10th. Citigroup reaffirmed a “positive” rating on shares of Southern Copper in a research report on Wednesday, July 15th. Finally, Scotiabank reiterated an “underperform” rating and set a $140.00 price target (up from $135.00) on shares of Southern Copper in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and seven have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $148.60.

Southern Copper Trading Down 1.4%

NYSE:SCCO opened at $179.69 on Friday. The company’s 50 day moving average is $180.76 and its 200-day moving average is $183.39. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. Southern Copper Corporation has a 12 month low of $88.73 and a 12 month high of $223.88. The firm has a market cap of $148.44 billion, a price-to-earnings ratio of 26.27, a P/E/G ratio of 1.56 and a beta of 1.11.

Shares of Southern Copper are scheduled to split on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly minted shares will be issued to shareholders after the market closes on Monday, August 10th.

Southern Copper (NYSE:SCCO) last announced its earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.95 by $0.06. The firm had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 50.74%. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. Equities analysts anticipate that Southern Copper Corporation will post 7.68 EPS for the current year.

Southern Copper Increases Dividend

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