5,528 Shares in Southern Copper Corporation $SCCO Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Southern Copper Corporation (NYSE:SCCO) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 5,528 shares of the basic materials company’s stock, valued at approximately $963,000.

Several other hedge funds also recently bought and sold shares of SCCO. Fund Advisors of America Inc FL purchased a new position in shares of Southern Copper during the second quarter worth approximately $870,000. California Public Employees Retirement System boosted its holdings in shares of Southern Copper by 21.2% in the first quarter. California Public Employees Retirement System now owns 192,523 shares of the basic materials company’s stock valued at $33,126,000 after purchasing an additional 33,638 shares during the period. B. Metzler seel. Sohn & Co. AG bought a new position in Southern Copper in the second quarter worth approximately $5,266,000. RFG Advisory LLC bought a new position in Southern Copper in the fourth quarter worth approximately $1,147,000. Finally, US Bancorp DE increased 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 purchasing an additional 10,360 shares during the period. Institutional investors own 7.94% of the company’s stock.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 202 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total transaction of $39,751.28. Following the sale, the director owned 1,723 shares of the company’s stock, valued at $339,066.65. This trade represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 509 shares of company stock worth $97,753 over the last 90 days. 0.07% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. CICC Research cut Southern Copper to a “market perform” rating in a report on Sunday, July 26th. JPMorgan Chase & Co. raised their price target on Southern Copper from $125.49 to $129.94 and gave the company an “underweight” rating in a research note on Wednesday, June 17th. Zacks Research downgraded Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Scotiabank reaffirmed an “underperform” rating and issued a $138.34 price objective (up from $133.40) on shares of Southern Copper in a research note on Monday, June 15th. Finally, Morgan Stanley upped their price objective on shares of Southern Copper from $144.27 to $156.13 and gave the stock an “underweight” rating in a research note on Wednesday, July 8th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $146.84.

Southern Copper Stock Performance

Shares of NYSE:SCCO opened at $219.70 on Wednesday. The company has a market capitalization of $183.30 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 1.84 and a beta of 1.11. Southern Copper Corporation has a 52 week low of $92.94 and a 52 week 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 firm has a 50 day moving average of $183.24 and a 200 day moving average of $183.38.

Southern Copper (NYSE:SCCO) last announced its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.06. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The business had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.37 billion. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, sell-side analysts predict that Southern Copper Corporation will post 7.61 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be paid a dividend of $1.10 per share. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date is Tuesday, August 11th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.0%. Southern Copper’s dividend payout ratio (DPR) is currently 64.33%.

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.