Southern Copper Corporation $SCCO Stake Lowered by Lido Advisors LLC

Lido Advisors LLC cut its stake in Southern Copper Corporation (NYSE:SCCO) by 47.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,055 shares of the basic materials company’s stock after selling 13,505 shares during the quarter. Lido Advisors LLC’s holdings in Southern Copper were worth $2,591,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada increased its position in Southern Copper by 42.1% in the 1st quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company’s stock worth $4,194,000 after purchasing an additional 13,293 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Southern Copper by 17.9% during the 1st quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company’s stock valued at $627,000 after buying an additional 1,020 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of Southern Copper by 21.5% during the 1st quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company’s stock valued at $556,000 after buying an additional 1,052 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Southern Copper by 37.4% in the 2nd quarter. First Trust Advisors LP now owns 73,379 shares of the basic materials company’s stock valued at $7,424,000 after buying an additional 19,957 shares in the last quarter. Finally, Baird Financial Group Inc. grew its stake in shares of Southern Copper by 17.7% in the 2nd quarter. Baird Financial Group Inc. now owns 4,864 shares of the basic materials company’s stock valued at $492,000 after buying an additional 731 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analysts Set New Price Targets

SCCO has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Southern Copper from $127.00 to $131.50 and gave the company an “underweight” rating in a research report on Wednesday, June 17th. The Goldman Sachs Group raised shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 target price for the company in a research report on Friday, April 10th. UBS Group restated a “sell” rating and set a $160.00 price target (up from $145.00) on shares of Southern Copper in a research note on Tuesday, June 30th. Wells Fargo & Company raised their price target on shares of Southern Copper from $171.00 to $172.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Finally, Wall Street Zen raised shares of Southern Copper from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and seven have given a Sell rating to the company. Based on data from MarketBeat, Southern Copper currently has an average rating of “Reduce” and a consensus price target of $148.60.

Southern Copper Stock Down 1.4%

Shares of SCCO stock opened at $179.69 on Friday. The stock’s 50 day simple moving average is $180.76 and its 200 day simple moving average is $183.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. Southern Copper Corporation has a twelve month low of $88.73 and a twelve month high of $223.88. The company has a market capitalization of $148.44 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 1.53 and a beta of 1.11.

Shares of Southern Copper are going to split before the market opens on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly created shares will be payable to shareholders after the closing bell on Monday, August 10th.

Southern Copper (NYSE:SCCO) last announced its earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. The firm had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.37 billion. Southern Copper had a return on equity of 50.74% and a net margin of 35.87%.The business’s revenue was up 40.6% compared to the same quarter last year. As a group, research analysts predict that Southern Copper Corporation will post 7.63 EPS for the current year.

Southern Copper Increases Dividend

The company 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 a positive change from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 11th. Southern Copper’s payout ratio is 58.48%.

Insider Buying and Selling at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00. Following the completion of the sale, the director directly owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. This represents a 9.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 404 shares of company stock valued at $74,108 in the last ninety days. 0.07% of the stock is currently owned by 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.