Southern Copper Corporation $SCCO Stock Position Lessened by Lido Advisors LLC

Lido Advisors LLC cut its stake in Southern Copper Corporation (NYSE:SCCO) by 47.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,055 shares of the basic materials company’s stock after selling 13,505 shares during the period. Lido Advisors LLC’s holdings in Southern Copper were worth $2,591,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Savvy Advisors Inc. acquired a new position in Southern Copper during the fourth quarter worth about $1,434,000. Oak Harvest Investment Services acquired a new stake in Southern Copper in the 4th quarter valued at about $7,650,000. US Bancorp DE lifted its holdings in Southern Copper by 16.2% in the 4th quarter. US Bancorp DE now owns 74,484 shares of the basic materials company’s stock valued at $10,687,000 after acquiring an additional 10,360 shares during the last quarter. Affinity Wealth Management LLC bought a new position in shares of Southern Copper during the 4th quarter valued at about $3,379,000. Finally, Ashoka WhiteOak Capital Pte Ltd bought a new position in shares of Southern Copper during the 4th quarter valued at about $5,460,000. Institutional investors own 7.94% of the company’s stock.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the transaction, the director owned 1,807 shares in the company, valued at $321,320.74. This represents a 9.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 404 shares of company stock valued at $74,108. 0.07% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SCCO. Wells Fargo & Company lifted their price objective on shares of Southern Copper from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. raised their target price 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. Weiss Ratings cut Southern Copper from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, July 8th. Scotiabank reiterated an “underperform” rating and set a $140.00 price objective (up from $135.00) on shares of Southern Copper in a research report on Monday, June 15th. Finally, Zacks Research raised Southern Copper from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $148.60.

Southern Copper Stock Performance

Shares of Southern Copper stock opened at $179.69 on Friday. The stock has a market cap of $148.44 billion, a PE ratio of 26.27, a price-to-earnings-growth ratio of 1.53 and a beta of 1.11. The business has a fifty day simple moving average of $180.76 and a 200-day simple moving average of $183.39. 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 $88.73 and a 12 month high of $223.88.

Southern Copper shares are set to split on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly created shares will be distributed 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. The firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.37 billion. Southern Copper had a return on equity of 50.74% and a net margin of 35.87%.The firm’s revenue was up 40.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Southern Copper Corporation will post 7.63 EPS for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be paid a dividend of $1.10 per share. 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. This represents a $4.40 annualized dividend and a yield of 2.4%. Southern Copper’s dividend payout ratio (DPR) is presently 58.48%.

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.