Southern Copper Corporation $SCCO Shares Newly Bought by Capstone Capital Management Ltd

Capstone Capital Management Ltd purchased a new position in shares of Southern Copper Corporation (NYSE:SCCO) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 4,926 shares of the basic materials company’s stock, valued at approximately $998,000.

Other institutional investors also recently made changes to their positions in the company. Plimoth Trust Co. LLC grew its stake in shares of Southern Copper by 0.8% during the second quarter. Plimoth Trust Co. LLC now owns 6,218 shares of the basic materials company’s stock valued at $1,084,000 after buying an additional 48 shares during the last quarter. Focus Financial Network Inc. lifted its stake in Southern Copper by 1.0% in the third quarter. Focus Financial Network Inc. now owns 5,076 shares of the basic materials company’s stock worth $1,029,000 after acquiring an additional 52 shares during the period. Emergent Wealth Advisors LLC lifted its position in shares of Southern Copper by 1.0% in the 2nd quarter. Emergent Wealth Advisors LLC now owns 5,366 shares of the basic materials company’s stock worth $935,000 after purchasing an additional 53 shares during the period. Terra Nova Asset Management LLC boosted its position in Southern Copper by 1.4% during the 3rd quarter. Terra Nova Asset Management LLC now owns 3,924 shares of the basic materials company’s stock valued at $795,000 after acquiring an additional 55 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Southern Copper by 1.2% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,250 shares of the basic materials company’s stock valued at $1,064,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Up 0.2%

Shares of SCCO stock opened at $202.19 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.06 and a quick ratio of 4.56. Southern Copper Corporation has a one year low of $119.25 and a one year high of $223.88. The company’s fifty day moving average price is $201.51 and its 200-day moving average price is $187.96. The company has a market capitalization of $168.69 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 1.78 and a beta of 1.11.

Shares of Southern Copper are going to split on Tuesday, November 3rd. The 1.0106-1 split was recently announced. The newly created shares will be issued to shareholders after the closing bell on Monday, November 2nd.

Southern Copper (NYSE:SCCO) last issued its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share for the quarter, topping 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 company had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.37 billion. The company’s quarterly revenue was up 40.6% compared to the same quarter last year. Sell-side analysts expect that Southern Copper Corporation will post 7.92 EPS for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Tuesday, November 3rd will be given a $1.30 dividend. 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 annualized dividend and a dividend yield of 2.6%. Southern Copper’s dividend payout ratio (DPR) is presently 64.33%.

Insider Activity at Southern Copper

In other news, Director Luis Palomino Bonilla sold 202 shares of the business’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. The trade was a 10.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 704 shares of company stock valued at $138,077 in the last quarter. 0.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SCCO. UBS Group reaffirmed a “sell” rating and set a $180.00 target price (up from $160.00) on shares of Southern Copper in a research note on Thursday, October 8th. Wall Street Zen upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Wells Fargo & Company increased their target price on Southern Copper from $172.00 to $190.00 and gave the company an “equal weight” rating in a report on Tuesday, October 6th. Weiss Ratings raised shares of Southern Copper from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Finally, Citigroup reissued a “positive” rating on shares of Southern Copper in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat.com, Southern Copper currently has an average rating of “Reduce” and a consensus price target of $160.95.

Southern Copper Profile

Southern Copper Corporation (NYSE:SCCO) is a mining and metals company engaged primarily in the exploration, development, extraction, processing and production of copper. The company also produces molybdenum, zinc, silver and lead, along with related byproducts. Its operations include open-pit mines, underground mines, concentrators, smelters, refineries and other processing facilities.

Southern Copper operates mainly in Peru and Mexico. Its Peruvian assets include the Toquepala and Cuajone copper mines, while its Mexican operations include the Buenavista del Cobre and La Caridad mines, as well as associated processing and infrastructure facilities.