Sanctuary Advisors LLC Invests $3.24 Million in Southern Copper Corporation $SCCO

Sanctuary Advisors LLC purchased a new position in Southern Copper Corporation (NYSE:SCCO) in the second quarter, HoldingsChannel reports. The fund purchased 18,599 shares of the basic materials company’s stock, valued at approximately $3,241,000.

Several other institutional investors have also recently added to or reduced their stakes in SCCO. Bell Investment Advisors Inc bought a new position in Southern Copper during the 2nd quarter valued at $26,000. Rakuten Securities Inc. bought a new stake in shares of Southern Copper in the 2nd quarter worth about $28,000. SHP Wealth Management bought a new stake in shares of Southern Copper in the 4th quarter worth about $25,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Southern Copper in the 4th quarter valued at about $29,000. Finally, Virtus Advisers LLC acquired a new stake in shares of Southern Copper in the 4th quarter valued at about $29,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Stock Up 2.5%

NYSE:SCCO opened at $219.70 on Wednesday. The firm has a market capitalization of $183.30 billion, a PE ratio of 32.12, a price-to-earnings-growth ratio of 1.84 and a beta of 1.11. The stock has a 50 day moving average of $183.24 and a 200-day moving average of $183.38. Southern Copper Corporation has a 52 week low of $92.94 and a 52 week high of $223.88. The company has a current ratio of 5.06, a quick ratio of 4.56 and a debt-to-equity ratio of 0.63.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.06. The business 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 49.04% and a net margin of 35.87%.The firm’s revenue was up 40.6% compared to the same quarter last year. Analysts predict that Southern Copper Corporation will post 7.61 EPS for the current year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be given a $1.10 dividend. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, August 11th. Southern Copper’s dividend payout ratio is 64.33%.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 202 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total value of $39,751.28. Following the sale, the director directly owned 1,723 shares in the company, valued at approximately $339,066.65. This trade represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 509 shares of company stock valued at $97,753 over the last quarter. 0.07% of the stock is owned by company insiders.

Analyst Ratings Changes

SCCO has been the topic of several research analyst reports. Wall Street Zen cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Morgan Stanley boosted their price objective on Southern Copper from $144.27 to $156.13 and gave the company an “underweight” rating in a report on Wednesday, July 8th. Citigroup restated a “positive” rating on shares of Southern Copper in a research note on Wednesday, July 15th. Scotiabank reaffirmed an “underperform” rating and set a $138.34 target price (up from $133.40) on shares of Southern Copper in a report on Monday, June 15th. Finally, Zacks Research downgraded Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $146.84.

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.