Healthcare of Ontario Pension Plan Trust Fund Buys Shares of 496,000 Southern Copper Corporation $SCCO

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Southern Copper Corporation (NYSE:SCCO) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 496,000 shares of the basic materials company’s stock, valued at approximately $85,342,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.06% of Southern Copper as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Intech Investment Management LLC grew its position in Southern Copper by 0.8% in the 4th quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company’s stock valued at $865,000 after buying an additional 50 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Southern Copper by 0.8% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,072 shares of the basic materials company’s stock valued at $871,000 after buying an additional 51 shares during the period. Steel Grove Capital Advisors LLC raised its position in shares of Southern Copper by 1.8% during the 4th quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company’s stock worth $417,000 after buying an additional 52 shares in the last quarter. Ensign Peak Advisors Inc raised its position in shares of Southern Copper by 0.8% during the 4th quarter. Ensign Peak Advisors Inc now owns 6,379 shares of the basic materials company’s stock worth $915,000 after buying an additional 53 shares in the last quarter. Finally, Venture Visionary Partners LLC lifted its stake in shares of Southern Copper by 0.8% in the 4th quarter. Venture Visionary Partners LLC now owns 6,998 shares of the basic materials company’s stock worth $1,004,000 after acquiring an additional 53 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Trading Down 1.4%

Shares of NYSE:SCCO opened at $179.69 on Friday. The stock has a market capitalization of $148.44 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 1.53 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 debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. The company has a 50 day moving average price of $180.76 and a 200 day moving average price of $183.39.

Southern Copper shares are set to split before the market opens on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly minted shares will be distributed to shareholders after the closing bell 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 (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.06. The company had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Southern Copper had a return on equity of 50.74% and a net margin of 35.87%.The business’s quarterly revenue was up 40.6% compared to the same quarter last year. On average, research analysts anticipate that Southern Copper Corporation will post 7.63 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, August 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s payout ratio is presently 58.48%.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the sale, the director directly owned 1,807 shares of the company’s stock, valued at $321,320.74. The trade was a 9.97% decrease in their ownership of the stock. 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. Insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SCCO shares. Wall Street Zen upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. JPMorgan Chase & Co. upped their target price on Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a research report on Wednesday, June 17th. Weiss Ratings lowered Southern Copper from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, July 8th. Zacks Research upgraded Southern Copper from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Finally, Wells Fargo & Company lifted their price target on Southern Copper from $171.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $148.60.

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.