Security National Bank Purchases 4,529 Shares of Southern Copper Corporation $SCCO

Security National Bank raised its position in Southern Copper Corporation (NYSE:SCCO) by 9.5% during the third quarter, Holdings Channel.com reports. The fund owned 52,185 shares of the basic materials company’s stock after purchasing an additional 4,529 shares during the quarter. Southern Copper accounts for approximately 1.0% of Security National Bank’s investment portfolio, making the stock its 28th largest position. Security National Bank’s holdings in Southern Copper were worth $6,333,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vident Advisory LLC increased its holdings in Southern Copper by 41.1% during the 1st quarter. Vident Advisory LLC now owns 12,229 shares of the basic materials company’s stock valued at $1,143,000 after purchasing an additional 3,560 shares during the period. Twin Tree Management LP grew its position in shares of Southern Copper by 583.5% in the 1st quarter. Twin Tree Management LP now owns 622 shares of the basic materials company’s stock worth $58,000 after buying an additional 531 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of Southern Copper during the first quarter valued at approximately $529,000. Quarry LP purchased a new position in shares of Southern Copper during the first quarter valued at approximately $41,000. Finally, MAI Capital Management raised its holdings in shares of Southern Copper by 34.0% during the first quarter. MAI Capital Management now owns 5,836 shares of the basic materials company’s stock valued at $545,000 after acquiring an additional 1,480 shares in the last quarter. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 400 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $139.00, for a total transaction of $55,600.00. Following the sale, the director directly owned 1,265 shares in the company, valued at approximately $175,835. This trade represents a 24.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders sold 948 shares of company stock valued at $131,130. Corporate insiders own 0.07% of the company’s stock.

Southern Copper Stock Up 0.1%

SCCO stock opened at $145.50 on Wednesday. The business has a 50 day moving average of $137.16 and a 200 day moving average of $116.63. The firm has a market cap of $118.17 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 1.34 and a beta of 1.07. Southern Copper Corporation has a twelve month low of $74.84 and a twelve month high of $152.19. The company has a quick ratio of 3.91, a current ratio of 4.52 and a debt-to-equity ratio of 0.64.

Southern Copper (NYSE:SCCO) last released its earnings results on Friday, October 31st. The basic materials company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.26 by $0.09. Southern Copper had a return on equity of 38.74% and a net margin of 30.98%.The business had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.05 billion. On average, research analysts forecast that Southern Copper Corporation will post 4.66 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Wednesday, November 12th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, November 12th. Southern Copper’s payout ratio is presently 75.47%.

Wall Street Analysts Forecast Growth

SCCO has been the topic of several recent analyst reports. Citigroup reiterated a “sell” rating and issued a $108.00 price target (up previously from $89.10) on shares of Southern Copper in a report on Wednesday, October 8th. Wells Fargo & Company set a $144.00 price target on shares of Southern Copper and gave the stock an “equal weight” rating in a research note on Tuesday, December 23rd. Itau BBA Securities downgraded Southern Copper from a “market perform” rating to an “underperform” rating and set a $126.00 target price on the stock. in a report on Monday, December 22nd. Morgan Stanley set a $138.00 price target on Southern Copper and gave the company an “underweight” rating in a research report on Monday, December 15th. Finally, Zacks Research cut shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, Southern Copper has a consensus rating of “Reduce” and a consensus price target of $123.85.

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.