Southern Copper Corporation $SCCO Shares Sold by Regal Partners Ltd

Regal Partners Ltd decreased its stake in Southern Copper Corporation (NYSE:SCCO) by 41.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,992 shares of the basic materials company’s stock after selling 45,089 shares during the period. Regal Partners Ltd’s holdings in Southern Copper were worth $10,838,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SCCO. Savvy Advisors Inc. bought a new stake in Southern Copper during the 4th quarter valued at $1,434,000. Oak Harvest Investment Services bought a new position in shares of Southern Copper in the fourth quarter worth $7,650,000. California Public Employees Retirement System grew its stake in shares of Southern Copper by 21.2% in the first quarter. California Public Employees Retirement System now owns 192,523 shares of the basic materials company’s stock worth $33,126,000 after purchasing an additional 33,638 shares in the last quarter. US Bancorp DE increased its holdings in shares of Southern Copper by 16.2% during the fourth quarter. US Bancorp DE now owns 74,484 shares of the basic materials company’s stock valued at $10,687,000 after purchasing an additional 10,360 shares during the period. Finally, Affinity Wealth Management LLC acquired a new position in shares of Southern Copper during the fourth quarter valued at $3,379,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SCCO. Wells Fargo & Company lifted their price objective on shares of Southern Copper from $171.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. increased their target price on shares of Southern Copper from $127.00 to $131.50 and gave the company an “underweight” rating in a research report on Wednesday, June 17th. Wall Street Zen raised shares of Southern Copper from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Morgan Stanley boosted their price target on shares of Southern Copper from $146.00 to $158.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 8th. Finally, Citigroup reaffirmed a “positive” rating on shares of Southern Copper in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and seven have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $148.60.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the transaction, the director owned 1,807 shares of the company’s stock, valued at $321,320.74. The trade was a 9.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 504 shares of company stock valued at $92,008. Insiders own 0.07% of the company’s stock.

Southern Copper Stock Down 0.0%

SCCO opened at $179.25 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. The company has a market capitalization of $148.08 billion, a PE ratio of 26.21, a P/E/G ratio of 1.54 and a beta of 1.11. The stock’s fifty day moving average is $181.11 and its 200-day moving average is $183.90. Southern Copper Corporation has a one year low of $88.73 and a one year high of $223.88.

Shares of Southern Copper are scheduled to split on the morning of Tuesday, August 11th. The 1.012-1 split was recently announced. The newly created shares will be issued to shareholders after the market closes on Monday, August 10th.

Southern Copper (NYSE:SCCO) last released its earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.06. Southern Copper had a return on equity of 50.74% and a net margin of 35.87%.The firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.37 billion. Southern Copper’s revenue was up 40.6% on a year-over-year basis. On average, equities analysts predict that Southern Copper Corporation will post 7.63 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. Stockholders of record on Tuesday, August 11th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $4.40 annualized dividend and a dividend yield of 2.5%. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s dividend payout ratio is presently 58.48%.

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.