Two Sigma Securities LLC Purchases Shares of 3,506 Southern Copper Corporation $SCCO

Two Sigma Securities LLC purchased a new stake in Southern Copper Corporation (NYSE:SCCO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,506 shares of the basic materials company’s stock, valued at approximately $611,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Southern Copper in the second quarter valued at about $1,729,500,000. State Street Corp boosted its holdings in Southern Copper by 2.4% during the fourth quarter. State Street Corp now owns 2,862,244 shares of the basic materials company’s stock worth $410,646,000 after purchasing an additional 66,268 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Southern Copper by 0.3% during the fourth quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company’s stock worth $363,873,000 after purchasing an additional 7,194 shares during the last quarter. Bank of America Corp DE bought a new stake in Southern Copper in the 2nd quarter worth about $318,448,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Southern Copper by 2.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,290,648 shares of the basic materials company’s stock valued at $224,908,000 after buying an additional 27,744 shares during the last quarter. 7.94% of the stock is owned by institutional investors.

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 dated Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total transaction of $39,751.28. Following the sale, the director owned 1,723 shares in the company, valued at $339,066.65. This trade represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 408 shares of company stock worth $77,793 in the last quarter. Company insiders own 0.07% of the company’s stock.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $200.97 on Wednesday. The stock’s 50-day simple moving average is $185.60 and its two-hundred day simple moving average is $183.84. Southern Copper Corporation has a twelve month low of $92.94 and a twelve month high of $223.88. The firm has a market capitalization of $167.68 billion, a P/E ratio of 29.38, a P/E/G ratio of 1.79 and a beta of 1.14. The company has a quick ratio of 4.56, a current ratio of 5.06 and a debt-to-equity ratio of 0.63.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.06. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The company had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Southern Copper’s revenue for the quarter was up 40.6% on a year-over-year basis. As a group, equities analysts anticipate that Southern Copper Corporation will post 7.61 EPS for the current fiscal year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 11th were paid a $1.10 dividend. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, August 11th. Southern Copper’s payout ratio is currently 64.33%.

Analyst Ratings Changes

SCCO has been the topic of a number of recent analyst reports. Wall Street Zen cut Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings upgraded shares of Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. JPMorgan Chase & Co. lifted their price objective on shares of Southern Copper from $125.49 to $129.94 and gave the stock an “underweight” rating in a research report on Wednesday, June 17th. Morgan Stanley boosted their target price on shares of Southern Copper from $144.27 to $156.13 and gave the company an “underweight” rating in a research note on Wednesday, July 8th. Finally, Barclays set a $164.03 target price on shares of Southern Copper and gave the company an “underweight” rating in a research report on Thursday, July 23rd. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have given a Sell rating to the company’s stock. According to MarketBeat, Southern Copper currently has an average rating of “Reduce” and a consensus target price of $146.84.

Southern Copper 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.