GSA Capital Partners LLP Purchases New Position in Southern Copper Corporation $SCCO

GSA Capital Partners LLP acquired a new position in shares of Southern Copper Corporation (NYSE:SCCO) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 5,357 shares of the basic materials company’s stock, valued at approximately $934,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SCCO. Maridea Wealth Management LLC acquired a new stake in Southern Copper in the second quarter valued at approximately $316,000. Bridgewater Advisors Inc. acquired a new position in shares of Southern Copper during the second quarter worth $333,000. Oppenheimer Asset Management Inc. bought a new position in shares of Southern Copper in the 2nd quarter valued at $7,822,000. Bryn Mawr Trust Advisors LLC bought a new position in shares of Southern Copper in the 2nd quarter valued at $622,000. Finally, E. Ohman J or Asset Management AB lifted its stake in shares of Southern Copper by 17.4% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 7,163 shares of the basic materials company’s stock valued at $1,248,000 after acquiring an additional 1,061 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Down 2.2%

Shares of SCCO opened at $187.81 on Wednesday. The company has a market capitalization of $156.70 billion, a PE ratio of 27.46, a PEG ratio of 1.58 and a beta of 1.11. Southern Copper Corporation has a 12 month low of $92.57 and a 12 month high of $223.88. The stock’s 50-day moving average price is $180.68 and its two-hundred day moving average price is $182.94. The company has a current ratio of 5.06, a quick ratio of 4.56 and a debt-to-equity ratio of 0.63.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.06. The firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.37 billion. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, analysts anticipate that Southern Copper Corporation will post 7.61 EPS for the current year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be issued a $1.10 dividend. The ex-dividend date is Tuesday, August 11th. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a yield of 2.3%. Southern Copper’s dividend payout ratio (DPR) is currently 64.33%.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 202 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $196.79, for a total transaction of $39,751.28. Following the completion of the sale, the director owned 1,723 shares of the company’s stock, valued at approximately $339,066.65. This represents a 10.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 711 shares of company stock valued at $133,247 in the last quarter. Corporate insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SCCO. UBS Group restated a “sell” rating and set a $158.10 price objective (up from $143.28) on shares of Southern Copper in a research report on Tuesday, June 30th. Scotiabank reiterated an “underperform” rating and issued a $138.34 target price (up from $133.40) on shares of Southern Copper in a research report on Monday, June 15th. JPMorgan Chase & Co. lifted their price target on Southern Copper from $125.49 to $129.94 and gave the company an “underweight” rating in a research note on Wednesday, June 17th. Wells Fargo & Company boosted their price target on Southern Copper from $168.97 to $169.96 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Finally, Citigroup reiterated a “positive” rating on shares of Southern Copper in a report on Wednesday, July 15th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $146.84.

Southern Copper 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.