Jefferies Financial Group Inc. Invests $5.17 Million in Southern Copper Corporation $SCCO

Jefferies Financial Group Inc. acquired a new stake in Southern Copper Corporation (NYSE:SCCO) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,698 shares of the basic materials company’s stock, valued at approximately $5,175,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada increased its position in Southern Copper by 42.1% during the first quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company’s stock worth $4,194,000 after buying an additional 13,293 shares during the period. Empowered Funds LLC grew its position in shares of Southern Copper by 17.9% during the first quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company’s stock worth $627,000 after acquiring an additional 1,020 shares during the last quarter. Focus Partners Wealth increased its holdings in shares of Southern Copper by 21.5% in the 1st quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company’s stock valued at $556,000 after acquiring an additional 1,052 shares during the period. First Trust Advisors LP increased its holdings in shares of Southern Copper by 37.4% in the 2nd quarter. First Trust Advisors LP now owns 73,379 shares of the basic materials company’s stock valued at $7,424,000 after acquiring an additional 19,957 shares during the period. Finally, Baird Financial Group Inc. raised its position in Southern Copper by 17.7% in the 2nd quarter. Baird Financial Group Inc. now owns 4,864 shares of the basic materials company’s stock valued at $492,000 after purchasing an additional 731 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Trading Down 2.2%

NYSE:SCCO opened at $211.58 on Friday. The company has a market capitalization of $176.53 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 1.85 and a beta of 1.11. The company has a quick ratio of 4.56, a current ratio of 5.06 and a debt-to-equity ratio of 0.63. Southern Copper Corporation has a 52-week low of $92.94 and a 52-week high of $223.88. The stock has a fifty day simple moving average of $184.67 and a 200-day simple moving average of $183.92.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data 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 analysts’ expectations of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. Southern Copper’s revenue was up 40.6% on a year-over-year basis. On average, equities research analysts expect that Southern Copper Corporation will post 7.61 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, August 11th. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s payout ratio is currently 64.33%.

Insider Buying and Selling

In other news, Director Bonilla Luis Miguel Palomino sold 202 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total value of $39,751.28. Following the transaction, the director directly owned 1,723 shares in the company, valued at $339,066.65. This trade represents a 10.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 509 shares of company stock worth $97,753 in the last ninety days. Corporate insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Scotiabank reissued an “underperform” rating and set a $138.34 price objective (up from $133.40) on shares of Southern Copper in a research report on Monday, June 15th. Citigroup reiterated a “positive” rating on shares of Southern Copper in a research note on Wednesday, July 15th. CICC Research cut Southern Copper to a “market perform” rating in a research report on Sunday, July 26th. Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Morgan Stanley increased their price objective on Southern Copper from $144.27 to $156.13 and gave the stock an “underweight” rating in a research report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average 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.