Regal Partners Ltd Buys 10,587 Shares of Southern Copper Corporation $SCCO

Regal Partners Ltd boosted its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 30.9% during the second quarter, Holdings Channel.com reports. The fund owned 44,809 shares of the basic materials company’s stock after acquiring an additional 10,587 shares during the period. Regal Partners Ltd’s holdings in Southern Copper were worth $4,533,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SCCO. Cullen Frost Bankers Inc. increased its stake in Southern Copper by 117.6% during the 1st quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 147 shares during the period. Golden State Wealth Management LLC bought a new position in shares of Southern Copper in the 1st quarter valued at $29,000. N.E.W. Advisory Services LLC bought a new position in shares of Southern Copper in the 1st quarter valued at $34,000. Quarry LP bought a new position in shares of Southern Copper in the 1st quarter valued at $41,000. Finally, Bessemer Group Inc. increased its stake in shares of Southern Copper by 3,100.0% in the 2nd quarter. Bessemer Group Inc. now owns 480 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 465 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

SCCO has been the topic of several recent analyst reports. Citigroup reiterated a “sell” rating and issued a $108.00 price target (up previously from $89.10) on shares of Southern Copper in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on Southern Copper from $92.00 to $114.50 and gave the company a “neutral” rating in a research note on Monday, October 27th. HSBC reiterated a “hold” rating and issued a $118.00 price target (up previously from $105.00) on shares of Southern Copper in a research note on Friday, October 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Southern Copper in a research note on Wednesday, October 8th. Finally, UBS Group reissued a “buy” rating on shares of Southern Copper in a report on Friday, September 19th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $117.94.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of Southern Copper stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $100.00, for a total transaction of $41,400.00. Following the transaction, the director directly owned 2,327 shares of the company’s stock, valued at approximately $232,700. The trade was a 15.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 1,228 shares of company stock worth $123,102. 0.07% of the stock is currently owned by insiders.

Southern Copper Trading Down 0.8%

NYSE SCCO opened at $138.97 on Friday. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.67. Southern Copper Corporation has a twelve month low of $74.84 and a twelve month high of $144.81. The company has a market cap of $111.74 billion, a price-to-earnings ratio of 29.13, a price-to-earnings-growth ratio of 1.29 and a beta of 1.02. The business’s fifty day moving average is $117.62 and its 200 day moving average is $103.00.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Tuesday, October 28th. The basic materials company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.09. Southern Copper had a return on equity of 39.62% and a net margin of 30.98%.The company had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.05 billion. As a group, sell-side analysts expect that Southern Copper Corporation will post 4.66 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $3.60 annualized dividend and a yield of 2.6%. Southern Copper’s payout ratio is presently 75.47%.

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.