Oak Harvest Investment Services Purchases Shares of 53,321 Southern Copper Corporation $SCCO

Oak Harvest Investment Services acquired a new position in Southern Copper Corporation (NYSE:SCCO) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 53,321 shares of the basic materials company’s stock, valued at approximately $7,650,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Partners LLC grew its stake in Southern Copper by 1.3% during the fourth quarter. ORG Partners LLC now owns 4,813 shares of the basic materials company’s stock worth $691,000 after purchasing an additional 60 shares during the period. Nations Financial Group Inc. IA ADV grew its stake in Southern Copper by 0.8% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 8,500 shares of the basic materials company’s stock worth $1,220,000 after purchasing an additional 71 shares during the period. Avanza Fonder AB grew its stake in Southern Copper by 0.8% during the fourth quarter. Avanza Fonder AB now owns 8,736 shares of the basic materials company’s stock worth $1,253,000 after purchasing an additional 73 shares during the period. Valley Brook Capital Group Inc. grew its stake in Southern Copper by 3.1% during the fourth quarter. Valley Brook Capital Group Inc. now owns 2,597 shares of the basic materials company’s stock worth $373,000 after purchasing an additional 79 shares during the period. Finally, 180 Wealth Advisors LLC grew its stake in Southern Copper by 1.8% during the fourth quarter. 180 Wealth Advisors LLC now owns 4,599 shares of the basic materials company’s stock worth $660,000 after purchasing an additional 83 shares during the period. Institutional investors own 7.94% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on SCCO shares. Scotiabank reaffirmed an “underperform” rating on shares of Southern Copper in a research note on Tuesday, January 27th. Citigroup reiterated a “sell” rating on shares of Southern Copper in a report on Monday, January 12th. Wall Street Zen upgraded Southern Copper from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Wells Fargo & Company set a $186.00 price target on Southern Copper and gave the stock an “equal weight” rating in a report on Wednesday. Finally, UBS Group cut their price target on Southern Copper from $150.00 to $140.00 and set a “sell” rating on the stock in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and seven have given a Sell rating to the stock. According to data from MarketBeat, Southern Copper presently has an average rating of “Reduce” and a consensus price target of $144.79.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 193 shares of Southern Copper stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.60, for a total transaction of $33,697.80. Following the sale, the director directly owned 1,707 shares in the company, valued at approximately $298,042.20. This trade represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of Southern Copper stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $209.56, for a total value of $1,954,344.91. Following the sale, the director owned 605 shares in the company, valued at $126,783.04. This trade represents a 93.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,526 shares of company stock worth $1,989,373 over the last quarter. 0.07% of the stock is currently owned by corporate insiders.

Southern Copper Stock Up 3.3%

SCCO stock opened at $194.44 on Friday. Southern Copper Corporation has a twelve month low of $84.97 and a twelve month high of $223.88. The company has a quick ratio of 3.40, a current ratio of 3.89 and a debt-to-equity ratio of 0.61. The stock’s 50 day moving average is $187.46 and its 200-day moving average is $161.10. The firm has a market capitalization of $159.27 billion, a PE ratio of 36.55, a P/E/G ratio of 1.89 and a beta of 1.16.

Southern Copper (NYSE:SCCO) last posted its earnings results on Wednesday, January 28th. The basic materials company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.73 billion. Southern Copper had a return on equity of 41.97% and a net margin of 32.30%.During the same quarter last year, the company earned $0.98 earnings per share. Sell-side analysts expect that Southern Copper Corporation will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 10th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.1%. This is an increase from Southern Copper’s previous quarterly dividend of $0.90. The ex-dividend date was Tuesday, February 10th. Southern Copper’s dividend payout ratio is 75.19%.

Southern Copper Company 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.