Royal Fund Management LLC Has $396,000 Stock Holdings in Southern Copper Corporation $SCCO

Royal Fund Management LLC trimmed its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 83.5% in the first quarter, Holdings Channel.com reports. The fund owned 2,301 shares of the basic materials company’s stock after selling 11,632 shares during the quarter. Royal Fund Management LLC’s holdings in Southern Copper were worth $396,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in SCCO. Savvy Advisors Inc. bought a new stake in Southern Copper during the fourth quarter worth $1,434,000. Oak Harvest Investment Services bought a new position in Southern Copper during the 4th quarter valued at $7,650,000. California Public Employees Retirement System lifted its stake in Southern Copper by 21.2% during the 1st quarter. California Public Employees Retirement System now owns 192,523 shares of the basic materials company’s stock valued at $33,126,000 after acquiring an additional 33,638 shares in the last quarter. US Bancorp DE boosted its holdings in Southern Copper by 16.2% during the 4th quarter. US Bancorp DE now owns 74,484 shares of the basic materials company’s stock worth $10,687,000 after acquiring an additional 10,360 shares during the last quarter. Finally, RFG Advisory LLC purchased a new position in Southern Copper during the 4th quarter worth $1,147,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction that occurred 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 owned 1,807 shares in the company, valued at $321,320.74. This trade represents a 9.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 504 shares of company stock worth $92,008. 0.07% of the stock is owned by corporate insiders.

Southern Copper Trading Up 5.4%

NYSE SCCO opened at $184.95 on Friday. The business’s fifty day moving average is $181.24 and its 200-day moving average is $184.13. 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 has a market capitalization of $152.78 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 1.51 and a beta of 1.11. Southern Copper Corporation has a one year low of $89.87 and a one year high of $223.88.

Southern Copper shares are set to split on the morning of Tuesday, August 11th. The 1.012-1 split was recently announced. The newly created shares will be payable to shareholders after the market closes on Monday, August 10th.

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

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s payout ratio is currently 64.33%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. The Goldman Sachs Group upgraded shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 target price for the company in a report on Friday, April 10th. JPMorgan Chase & Co. boosted their price target 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. Zacks Research raised shares of Southern Copper from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Citigroup reissued a “positive” rating on shares of Southern Copper in a research report on Wednesday, July 15th. Finally, Barclays set a $166.00 target price on Southern Copper and gave the stock an “underweight” rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat, Southern Copper presently has a consensus rating of “Reduce” and an average target price of $148.60.

Southern Copper Company 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.