Andra AP fonden Buys 38,151 Shares of Southern Copper Corporation $SCCO

Andra AP fonden grew its stake in Southern Copper Corporation (NYSE:SCCO) by 52.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 110,625 shares of the basic materials company’s stock after buying an additional 38,151 shares during the quarter. Andra AP fonden’s holdings in Southern Copper were worth $19,278,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Southern Copper during the 2nd quarter worth $1,729,500,000. Fisher Asset Management LLC raised its position 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 valued at $363,873,000 after purchasing an additional 7,194 shares in the last quarter. Bank of America Corp DE purchased a new stake in Southern Copper during the second quarter valued at about $318,448,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Southern Copper by 2.2% during the second 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 worth $224,908,000 after purchasing an additional 27,744 shares during the last quarter. Finally, Bollard Group LLC boosted its holdings in shares of Southern Copper by 14.0% in the 1st quarter. Bollard Group LLC now owns 861,950 shares of the basic materials company’s stock worth $148,307,000 after purchasing an additional 105,763 shares in the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Up 3.5%

Shares of NYSE SCCO traded up $6.83 during mid-day trading on Tuesday, hitting $204.90. The stock had a trading volume of 341,135 shares, compared to its average volume of 1,580,854. The business has a 50 day moving average price of $193.30 and a two-hundred day moving average price of $183.39. Southern Copper Corporation has a 1 year low of $110.14 and a 1 year high of $223.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.56 and a current ratio of 5.06. The firm has a market cap of $170.95 billion, a P/E ratio of 29.98, a price-to-earnings-growth ratio of 1.75 and a beta of 1.14.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.06. The firm had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The company’s revenue was up 40.6% compared to the same quarter last year. On average, equities analysts anticipate that Southern Copper Corporation will post 7.83 EPS for the current fiscal year.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was 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 64.33%.

Wall Street Analyst Weigh In

SCCO has been the topic of a number of research reports. Scotiabank reissued an “underperform” rating and set a $138.34 price objective (up from $133.40) on shares of Southern Copper in a report on Monday, June 15th. UBS Group reissued a “sell” rating and set a $158.10 price target (up from $143.28) on shares of Southern Copper in a research note on Tuesday, June 30th. Morgan Stanley boosted their price objective on shares of Southern Copper from $144.27 to $156.13 and gave the stock an “underweight” rating in a report on Wednesday, July 8th. Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Citigroup reissued a “positive” rating on shares of Southern Copper in a research note on Wednesday, July 15th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $146.84.

Insider Buying and Selling at Southern Copper

In other Southern Copper news, Director Luis Palomino Bonilla sold 202 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total transaction of $39,751.28. Following the transaction, the director owned 1,723 shares in the company, valued at approximately $339,066.65. This represents a 10.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 604 shares of company stock worth $118,077. 0.07% of the stock is currently owned by corporate insiders.

Southern Copper Company Profile

Southern Copper Corporation (NYSE: SCCO) is an integrated copper producer engaged in the exploration, mining, processing, smelting and refining of minerals. The company produces copper in the form of cathodes, concentrates and anodes, along with byproducts including molybdenum, zinc, silver, lead and sulfuric acid.

Southern Copper operates mining and processing facilities in Mexico and Peru. Its principal Mexican operations include the Buenavista del Cobre and La Caridad mining complexes, while its Peruvian operations include the Toquepala and Cuajone mines and the Ilo smelter and refinery.