Southern Copper Corporation $SCCO Stock Holdings Boosted by Sei Investments Co.

Sei Investments Co. grew its position in shares of Southern Copper Corporation (NYSE:SCCO) by 44.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 450,018 shares of the basic materials company’s stock after purchasing an additional 139,202 shares during the quarter. Sei Investments Co. owned 0.05% of Southern Copper worth $77,430,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SHP Wealth Management acquired a new position in Southern Copper during the fourth quarter worth about $25,000. Lloyd Advisory Services LLC. bought a new stake in Southern Copper in the fourth quarter worth about $29,000. Virtus Advisers LLC acquired a new stake in Southern Copper in the 4th quarter valued at about $29,000. Godfrey Financial Associates Inc. acquired a new stake in Southern Copper in the 4th quarter valued at about $30,000. Finally, IFP Advisors Inc lifted its holdings in Southern Copper by 233.3% in the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 161 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

SCCO has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a research note on Wednesday, June 17th. Barclays set a $166.00 target price on shares of Southern Copper and gave the stock an “underweight” rating in a report on Thursday. Wells Fargo & Company raised their target price on shares of Southern Copper from $171.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Weiss Ratings lowered shares of Southern Copper from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, July 8th. Finally, Citigroup reaffirmed a “positive” rating on shares of Southern Copper in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $148.60.

Insider Activity at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’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 completion of the sale, the director directly owned 1,807 shares in the company, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 404 shares of company stock valued at $74,108 over the last ninety days. Company insiders own 0.07% of the company’s stock.

Southern Copper Trading Down 1.4%

Shares of SCCO opened at $179.69 on Friday. The business’s 50-day moving average price is $180.76 and its 200 day moving average price is $183.39. The stock has a market capitalization of $148.44 billion, a P/E ratio of 26.27, a P/E/G ratio of 1.56 and a beta of 1.11. Southern Copper Corporation has a 1-year low of $88.73 and a 1-year high of $223.88. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57.

Shares of Southern Copper are going to split on the morning of Tuesday, August 11th. The 1.012-1 split was recently announced. The newly issued shares will be issued to shareholders after the closing bell on Monday, August 10th.

Southern Copper (NYSE:SCCO) last released its earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share for the quarter, topping 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 business had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.37 billion. The firm’s revenue for the quarter was up 40.6% on a year-over-year basis. Analysts expect that Southern Copper Corporation will post 7.68 earnings per share for the current year.

Southern Copper Increases Dividend

The firm 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 $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.4%. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Tuesday, August 11th. Southern Copper’s payout ratio is 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.