Southern Copper Corporation $SCCO Stock: Calamos Advisors LLC Decreases Holdings

Calamos Advisors LLC reduced its stake in Southern Copper Corporation (NYSE:SCCO) by 22.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,866 shares of the basic materials company’s stock after selling 21,279 shares during the period. Calamos Advisors LLC’s holdings in Southern Copper were worth $14,766,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Bell Investment Advisors Inc acquired a new stake in shares of Southern Copper during the 2nd quarter worth about $26,000. Rakuten Securities Inc. bought a new stake in shares of Southern Copper during the 2nd quarter worth about $28,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of Southern Copper during the 2nd quarter worth about $30,000. Compass Financial Management LLC acquired a new position in Southern Copper in the 2nd quarter valued at about $41,000. Finally, Caitlin John LLC bought a new position in Southern Copper in the 2nd quarter valued at about $43,000. 7.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SCCO shares. UBS Group reissued a “sell” rating and issued a $178.11 price target (up from $158.32) on shares of Southern Copper in a report on Thursday, October 8th. Zacks Research downgraded Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Morgan Stanley reaffirmed an “underweight” rating and issued a $168.22 target price on shares of Southern Copper in a research report on Wednesday, October 7th. Wall Street Zen lowered Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, CICC Research cut Southern Copper to a “market perform” rating in a report on Sunday, July 26th. Two investment 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. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $159.26.

Southern Copper Price Performance

NYSE:SCCO opened at $167.10 on Friday. Southern Copper Corporation has a 52 week low of $119.25 and a 52 week high of $223.88. The firm has a market cap of $139.42 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 1.54 and a beta of 1.15. The firm’s 50-day simple moving average is $194.62 and its 200 day simple moving average is $185.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.56 and a current ratio of 4.31.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Wednesday, October 21st. The basic materials company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.12. The business had revenue of $4.70 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Southern Copper had a net margin of 37.16% and a return on equity of 51.61%. During the same quarter in the previous year, the company earned $1.34 EPS. As a group, sell-side analysts predict that Southern Copper Corporation will post 8.01 earnings per share for the current year.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Tuesday, November 3rd will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 3rd. This is a positive change from Southern Copper’s previous quarterly dividend of $1.10. This represents a $5.20 dividend on an annualized basis and a yield of 3.1%. Southern Copper’s dividend payout ratio is currently 68.06%.

Southern Copper Profile

Southern Copper Corporation is an integrated mining company focused primarily on the exploration, mining, processing, and refining of copper. Its operations also produce molybdenum, zinc, lead, silver, and other mineral products.

The company operates mines and processing facilities in Peru and Mexico, including the Toquepala and Cuajone operations in Peru and the Buenavista and La Caridad operations in Mexico. Its activities extend across the mining and metals value chain, from extracting ore to producing refined metals and concentrates.

Southern Copper traces its origins to Southern Peru Copper Corporation, established in 1952, and is part of Grupo México.