SG Americas Securities LLC Acquires 14,543 Shares of Southern Copper Corporation $SCCO

SG Americas Securities LLC increased its stake in Southern Copper Corporation (NYSE:SCCO) by 37.2% during the third quarter, Holdings Channel.com reports. The firm owned 53,678 shares of the basic materials company’s stock after purchasing an additional 14,543 shares during the quarter. SG Americas Securities LLC’s holdings in Southern Copper were worth $6,514,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Legal & General Group Plc increased its holdings in Southern Copper by 4.3% in the 2nd quarter. Legal & General Group Plc now owns 941,712 shares of the basic materials company’s stock worth $95,273,000 after acquiring an additional 38,856 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Southern Copper by 6.5% in the second quarter. Nordea Investment Management AB now owns 140,489 shares of the basic materials company’s stock worth $14,326,000 after purchasing an additional 8,531 shares during the period. SBI Securities Co. Ltd. increased its stake in shares of Southern Copper by 82.5% in the second quarter. SBI Securities Co. Ltd. now owns 5,085 shares of the basic materials company’s stock worth $514,000 after purchasing an additional 2,298 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Southern Copper during the 2nd quarter valued at $5,436,000. Finally, Capital Advisors Inc. OK raised its position in shares of Southern Copper by 1.3% during the 2nd quarter. Capital Advisors Inc. OK now owns 277,035 shares of the basic materials company’s stock valued at $28,028,000 after purchasing an additional 3,449 shares during the period. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Price Performance

NYSE:SCCO opened at $170.55 on Friday. The business’s 50-day moving average is $140.40 and its 200 day moving average is $119.82. Southern Copper Corporation has a 12 month low of $74.84 and a 12 month high of $171.08. The company has a market capitalization of $138.52 billion, a P/E ratio of 35.75, a P/E/G ratio of 1.44 and a beta of 1.06. The company has a current ratio of 4.52, a quick ratio of 3.91 and a debt-to-equity ratio of 0.64.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Friday, October 31st. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. The business had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.05 billion. Southern Copper had a return on equity of 38.74% and a net margin of 30.98%. On average, equities research analysts forecast that Southern Copper Corporation will post 4.66 earnings per share for the current fiscal year.

Southern Copper Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Wednesday, November 12th were given a dividend of $0.90 per share. The ex-dividend date was Wednesday, November 12th. This represents a $3.60 annualized dividend and a yield of 2.1%. Southern Copper’s dividend payout ratio (DPR) is 75.47%.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 400 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $139.00, for a total value of $55,600.00. Following the sale, the director directly owned 1,265 shares in the company, valued at $175,835. The trade was a 24.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 948 shares of company stock valued at $131,130. Company insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Southern Copper from $114.50 to $119.50 and gave the stock a “neutral” rating in a report on Thursday, December 18th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $115.00 price objective (up previously from $89.00) on shares of Southern Copper in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern Copper in a research report on Monday, December 29th. Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, UBS Group restated a “neutral” rating and issued a $143.00 price target (up from $135.00) on shares of Southern Copper in a research note on Friday, December 12th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Southern Copper has a consensus rating of “Reduce” and a consensus price target of $123.85.

About Southern Copper

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.