Valeo Financial Advisors LLC Buys New Stake in Southern Copper Corporation (NYSE:SCCO)

Valeo Financial Advisors LLC bought a new stake in shares of Southern Copper Corporation (NYSE:SCCO) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,148 shares of the basic materials company’s stock, valued at approximately $201,000.

Several other institutional investors also recently bought and sold shares of SCCO. Norges Bank purchased a new position in Southern Copper during the fourth quarter valued at $52,738,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Southern Copper during the fourth quarter valued at $40,226,000. Renaissance Technologies LLC grew its stake in shares of Southern Copper by 1,417.7% in the 4th quarter. Renaissance Technologies LLC now owns 407,912 shares of the basic materials company’s stock worth $37,173,000 after buying an additional 381,035 shares in the last quarter. Northern Trust Corp grew its stake in shares of Southern Copper by 44.9% in the 4th quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company’s stock worth $104,484,000 after buying an additional 355,013 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Southern Copper by 49.6% in the 4th quarter. Marshall Wace LLP now owns 998,923 shares of the basic materials company’s stock worth $91,032,000 after buying an additional 331,319 shares in the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Price Performance

SCCO stock opened at $101.60 on Friday. Southern Copper Corporation has a 12 month low of $74.11 and a 12 month high of $118.64. The company has a current ratio of 3.71, a quick ratio of 3.22 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average price of $95.58 and a 200 day moving average price of $93.48. The stock has a market cap of $80.89 billion, a PE ratio of 22.23, a P/E/G ratio of 2.34 and a beta of 1.02.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Friday, April 25th. The basic materials company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. Southern Copper had a net margin of 30.00% and a return on equity of 39.39%. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Equities research analysts anticipate that Southern Copper Corporation will post 4.66 earnings per share for the current year.

Southern Copper Announces Dividend

The business also recently disclosed a dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a yield of 2.98%. Southern Copper’s payout ratio is 61.27%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SCCO. UBS Group cut shares of Southern Copper from a “buy” rating to a “neutral” rating and set a $105.00 price objective for the company. in a research note on Tuesday, July 1st. Itau BBA Securities raised shares of Southern Copper from an “underperform” rating to a “market perform” rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. dropped their price objective on shares of Southern Copper from $83.50 to $79.00 and set a “neutral” rating for the company in a research note on Thursday, July 3rd. Wall Street Zen cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Tuesday, May 20th. Finally, Hsbc Global Res raised shares of Southern Copper from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 24th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $91.60.

Southern Copper Company Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.