Capital Research Global Investors Acquires New Stake in Southern Copper Corporation $SCCO

Capital Research Global Investors acquired a new stake in shares of Southern Copper Corporation (NYSE:SCCO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 564,852 shares of the basic materials company’s stock, valued at approximately $81,039,000.

A number of other large investors have also added to or reduced their stakes in the company. Intech Investment Management LLC raised its position in Southern Copper by 0.8% during the fourth quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company’s stock valued at $865,000 after purchasing an additional 50 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al raised 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 purchasing an additional 51 shares in the last quarter. Steel Grove Capital Advisors LLC raised its position in Southern Copper by 1.8% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company’s stock valued at $417,000 after purchasing an additional 52 shares in the last quarter. Centerstone Investors LLC raised its position in Southern Copper by 0.9% during the fourth quarter. Centerstone Investors LLC now owns 6,998 shares of the basic materials company’s stock valued at $1,004,000 after purchasing an additional 59 shares in the last quarter. Finally, ORG Partners LLC raised its position in Southern Copper by 1.3% during the fourth quarter. ORG Partners LLC now owns 4,813 shares of the basic materials company’s stock valued at $691,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the transaction, the director owned 1,807 shares in the company, valued at $321,320.74. The trade was a 9.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 604 shares of company stock worth $109,136. 0.07% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SCCO has been the topic of a number of research reports. Wells Fargo & Company set a $171.00 price target on Southern Copper and gave the company an “equal weight” rating in a research report on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of Southern Copper in a research report on Friday, March 27th. UBS Group raised their price target on Southern Copper from $140.00 to $145.00 and gave the company a “sell” rating in a research report on Thursday, May 21st. Bank of America downgraded Southern Copper from a “neutral” rating to an “underperform” rating and raised their price target for the company from $162.00 to $175.00 in a research report on Thursday, February 26th. Finally, Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $145.14.

Southern Copper Stock Down 1.4%

Shares of NYSE:SCCO opened at $170.51 on Tuesday. Southern Copper Corporation has a 1 year low of $88.73 and a 1 year high of $223.88. The company has a market cap of $139.66 billion, a PE ratio of 28.18, a P/E/G ratio of 1.63 and a beta of 1.09. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. The stock’s 50-day moving average is $182.51 and its 200 day moving average is $173.99.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%.The company had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $3.96 billion. Sell-side analysts anticipate that Southern Copper Corporation will post 7.25 EPS for the current year.

Southern Copper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Wednesday, May 13th. Southern Copper’s payout ratio is currently 66.12%.

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.