Ashoka WhiteOak Capital Pte Ltd Purchases Shares of 37,529 Southern Copper Corporation $SCCO

Ashoka WhiteOak Capital Pte Ltd purchased a new stake in Southern Copper Corporation (NYSE:SCCO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 37,529 shares of the basic materials company’s stock, valued at approximately $5,460,000. Southern Copper accounts for about 2.1% of Ashoka WhiteOak Capital Pte Ltd’s holdings, making the stock its 7th biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Swiss Life Asset Management Ltd grew its holdings in shares of Southern Copper by 21.4% in the 4th quarter. Swiss Life Asset Management Ltd now owns 10,707 shares of the basic materials company’s stock worth $1,536,000 after purchasing an additional 1,884 shares during the last quarter. Pure Financial Advisors LLC grew its holdings in shares of Southern Copper by 48.9% in the 4th quarter. Pure Financial Advisors LLC now owns 4,329 shares of the basic materials company’s stock worth $621,000 after purchasing an additional 1,422 shares during the last quarter. Bryn Mawr Trust Advisors LLC grew its holdings in shares of Southern Copper by 1.4% in the 4th quarter. Bryn Mawr Trust Advisors LLC now owns 4,841 shares of the basic materials company’s stock worth $695,000 after purchasing an additional 67 shares during the last quarter. Centerpoint Advisory Group bought a new stake in shares of Southern Copper in the 4th quarter worth about $201,000. Finally, Drucker Wealth 3.0 LLC grew its holdings in shares of Southern Copper by 0.7% in the 4th quarter. Drucker Wealth 3.0 LLC now owns 15,309 shares of the basic materials company’s stock worth $2,196,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SCCO. Bank of America lowered shares of Southern Copper from a “neutral” rating to an “underperform” rating and upped their target price for the stock from $162.00 to $175.00 in a report on Thursday, February 26th. The Goldman Sachs Group raised shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 target price on the stock in a report on Friday, April 10th. Morgan Stanley upped their target price on shares of Southern Copper from $155.00 to $160.00 and gave the stock an “underweight” rating in a report on Thursday, April 9th. Wall Street Zen raised shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Finally, Wells Fargo & Company set a $171.00 target price on shares of Southern Copper and gave the stock an “equal weight” rating in a report on Friday, May 1st. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $144.25.

Southern Copper Stock Down 0.1%

Shares of NYSE SCCO opened at $185.12 on Tuesday. The firm’s 50-day simple moving average is $181.23 and its 200 day simple moving average is $166.69. The company has a market cap of $151.63 billion, a price-to-earnings ratio of 30.60, a price-to-earnings-growth ratio of 1.81 and a beta of 1.07. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. Southern Copper Corporation has a 12-month low of $88.54 and a 12-month high of $223.88.

Southern Copper shares are set to split on the morning of Wednesday, May 13th. The 1.01-1 split was recently announced. The newly minted shares will be payable to shareholders after the closing bell on Tuesday, May 12th.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.04. The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $3.96 billion. Southern Copper had a net margin of 34.13% and a return on equity of 45.63%. On average, research analysts expect that Southern Copper Corporation will post 6.99 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Wednesday, May 13th will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, May 13th. This represents a $4.00 annualized dividend and a yield of 2.2%. Southern Copper’s dividend payout ratio is 66.12%.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 193 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $174.60, for a total transaction of $33,697.80. Following the transaction, the director owned 1,707 shares in the company, valued at $298,042.20. This represents a 10.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by company 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.