RFG Advisory LLC Invests $1.15 Million in Southern Copper Corporation $SCCO

RFG Advisory LLC purchased a new position in Southern Copper Corporation (NYSE:SCCO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,991 shares of the basic materials company’s stock, valued at approximately $1,147,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital World Investors increased its position in Southern Copper by 36.1% during the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock worth $781,268,000 after purchasing an additional 1,708,693 shares during the last quarter. State Street Corp increased its position in Southern Copper by 1.5% during the third quarter. State Street Corp now owns 2,795,976 shares of the basic materials company’s stock worth $339,320,000 after purchasing an additional 40,847 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Southern Copper by 12.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,091,632 shares of the basic materials company’s stock worth $132,479,000 after purchasing an additional 123,532 shares during the last quarter. Vanguard Group Inc. increased its position in Southern Copper by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 983,822 shares of the basic materials company’s stock worth $141,149,000 after purchasing an additional 33,804 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Southern Copper by 1.5% during the third quarter. Legal & General Group Plc now owns 955,924 shares of the basic materials company’s stock worth $116,012,000 after purchasing an additional 14,212 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 193 shares of Southern Copper stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $174.60, for a total transaction of $33,697.80. Following the completion of the sale, the director directly owned 1,707 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. UBS Group cut their price objective on shares of Southern Copper from $150.00 to $140.00 and set a “sell” rating for the company in a research report on Friday, March 27th. Citigroup restated a “sell” rating on shares of Southern Copper in a research report on Monday, January 12th. Wells Fargo & Company set a $171.00 price objective on shares of Southern Copper and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Southern Copper from $117.50 to $127.00 and gave the stock an “underweight” rating in a research report on Friday, April 10th. 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 company’s stock. Based on data from MarketBeat, Southern Copper currently has a consensus rating of “Reduce” and an average target price of $144.25.

Southern Copper Price Performance

Shares of SCCO opened at $185.51 on Friday. Southern Copper Corporation has a 1-year low of $88.13 and a 1-year high of $223.88. The stock has a market cap of $151.95 billion, a PE ratio of 30.66, a P/E/G ratio of 1.76 and a beta of 1.07. The firm has a 50-day simple moving average of $182.45 and a two-hundred day simple moving average of $165.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89.

Southern Copper shares are set to split on the morning of Wednesday, May 13th. The 1.01-1 split was recently announced. The newly created shares will be payable to shareholders after the market closes on Tuesday, May 12th.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. Southern Copper had a net margin of 34.13% and a return on equity of 45.63%. The business had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $3.96 billion. As a group, analysts forecast that Southern Copper Corporation will post 6.99 EPS for the current year.

Southern Copper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, May 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.2%. Southern Copper’s dividend payout ratio (DPR) is currently 66.12%.

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.