8,610 Shares in Southern Copper Corporation $SCCO Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp acquired a new stake in shares of Southern Copper Corporation (NYSE:SCCO) in the second quarter, HoldingsChannel reports. The firm acquired 8,610 shares of the basic materials company’s stock, valued at approximately $1,500,000.

Several other hedge funds also recently bought and sold shares of the business. Bell Investment Advisors Inc bought a new position in shares of Southern Copper in the second quarter worth about $26,000. Rakuten Securities Inc. bought a new stake in Southern Copper during the 2nd quarter valued at about $28,000. SHP Wealth Management bought a new stake in Southern Copper during the 4th quarter valued at about $25,000. Lloyd Advisory Services LLC. bought a new stake in Southern Copper during the 4th quarter valued at about $29,000. Finally, Virtus Advisers LLC purchased a new stake in Southern Copper in the 4th quarter valued at about $29,000. Institutional investors own 7.94% of the company’s stock.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 202 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was 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 in the company, valued at $339,066.65. This represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 509 shares of company stock valued at $97,753 over the last ninety days. Insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

SCCO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Southern Copper from $125.49 to $129.94 and gave the stock an “underweight” rating in a research note on Wednesday, June 17th. UBS Group reaffirmed a “sell” rating and set a $158.10 price target (up from $143.28) on shares of Southern Copper in a research note on Tuesday, June 30th. Barclays set a $164.03 price target on Southern Copper and gave the company an “underweight” rating in a report on Thursday, July 23rd. Wells Fargo & Company increased their price objective on Southern Copper from $168.97 to $169.96 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Finally, Morgan Stanley lifted their target price on Southern Copper from $144.27 to $156.13 and gave the company an “underweight” rating in a research report on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Southern Copper has a consensus rating of “Reduce” and a consensus price target of $146.84.

Southern Copper Trading Down 2.7%

NYSE SCCO opened at $213.68 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.56 and a current ratio of 5.06. The company has a market capitalization of $178.28 billion, a price-to-earnings ratio of 31.24, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The company’s 50-day simple moving average is $183.73 and its two-hundred day simple moving average is $183.58. Southern Copper Corporation has a one year low of $92.94 and a one year high of $223.88.

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

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a yield of 2.1%. Southern Copper’s dividend payout ratio is 64.33%.

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.