Deutsche Bank AG Purchases New Position in Southern Copper Corporation $SCCO

Deutsche Bank AG bought a new position in shares of Southern Copper Corporation (NYSE:SCCO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 492,196 shares of the basic materials company’s stock, valued at approximately $85,770,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SCCO. SHP Wealth Management purchased a new stake in Southern Copper in the fourth quarter worth $25,000. Bell Investment Advisors Inc bought a new position in Southern Copper in the 2nd quarter worth about $26,000. Lloyd Advisory Services LLC. bought a new position in shares of Southern Copper in the fourth quarter worth approximately $29,000. Virtus Advisers LLC purchased a new stake in Southern Copper during the 4th quarter valued at $29,000. Finally, Godfrey Financial Associates Inc. purchased a new stake in shares of Southern Copper during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 202 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 1,723 shares in the company, valued at approximately $339,066.65. This represents a 10.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 509 shares of company stock worth $97,753. 0.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SCCO shares. Barclays set a $164.03 target price on shares of Southern Copper and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. raised their price objective on Southern Copper from $125.49 to $129.94 and gave the stock an “underweight” rating in a research note on Wednesday, June 17th. Weiss Ratings raised Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Wells Fargo & Company boosted their price objective on Southern Copper from $168.97 to $169.96 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Finally, Zacks Research cut shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $146.84.

Southern Copper Trading Up 2.5%

Shares of Southern Copper stock opened at $199.45 on Friday. Southern Copper Corporation has a twelve month low of $92.57 and a twelve month high of $223.88. 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 business has a 50-day moving average price of $181.66 and a 200-day moving average price of $182.97. The firm has a market cap of $166.41 billion, a price-to-earnings ratio of 29.16, a PEG ratio of 1.67 and a beta of 1.11.

Southern Copper (NYSE:SCCO) last posted its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper’s quarterly revenue was up 40.6% compared to the same quarter last year. Equities research analysts anticipate that Southern Copper Corporation will post 7.61 EPS for the current fiscal year.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be issued a dividend of $1.10 per share. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. Southern Copper’s payout ratio is currently 64.33%.

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.