Brasada Capital Management LP Makes New $630,000 Investment in Southern Copper Corporation $SCCO

Brasada Capital Management LP acquired a new position in Southern Copper Corporation (NYSE:SCCO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,613 shares of the basic materials company’s stock, valued at approximately $630,000.

A number of other large investors have also recently made changes to their positions in SCCO. SHP Wealth Management purchased a new stake in Southern Copper in the 4th quarter worth approximately $25,000. Bell Investment Advisors Inc purchased a new position in Southern Copper during the second quarter valued at approximately $26,000. Rakuten Securities Inc. purchased a new position in Southern Copper during the second quarter valued at approximately $28,000. Lloyd Advisory Services LLC. purchased a new position in Southern Copper during the fourth quarter valued at approximately $29,000. Finally, Virtus Advisers LLC bought a new position in shares of Southern Copper in the fourth quarter worth approximately $29,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Trading Up 1.4%

Shares of SCCO opened at $216.79 on Friday. The firm has a market cap of $180.87 billion, a P/E ratio of 31.69, a price-to-earnings-growth ratio of 1.83 and a beta of 1.11. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.06 and a quick ratio of 4.56. Southern Copper Corporation has a 1 year low of $92.94 and a 1 year high of $223.88. The company has a 50 day simple moving average of $184.25 and a two-hundred day simple moving average of $183.72.

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

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, August 11th. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s dividend payout ratio is presently 64.33%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Southern Copper from $125.49 to $129.94 and gave the stock an “underweight” rating in a research note on Wednesday, June 17th. Zacks Research cut shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Wall Street Zen downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Citigroup reiterated a “positive” rating on shares of Southern Copper in a research note on Wednesday, July 15th. Finally, Weiss Ratings raised Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have assigned a Sell rating to the stock. According to MarketBeat, Southern Copper has a consensus rating of “Reduce” and a consensus price target of $146.84.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 202 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $196.79, for a total transaction of $39,751.28. Following the completion of the transaction, the director owned 1,723 shares of the company’s stock, valued at $339,066.65. This represents a 10.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 509 shares of company stock valued at $97,753. 0.07% of the stock is owned by insiders.

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.