Diversify Advisory Services LLC Buys Shares of 16,988 Southern Copper Corporation $SCCO

Diversify Advisory Services LLC purchased a new position in Southern Copper Corporation (NYSE:SCCO) in the second quarter, HoldingsChannel reports. The institutional investor purchased 16,988 shares of the basic materials company’s stock, valued at approximately $3,046,000.

Other institutional investors have also recently made changes to their positions in the company. Gables Capital Management Inc. purchased a new stake in shares of Southern Copper during the 2nd quarter valued at $640,000. Oxbow Advisors LLC purchased a new position in Southern Copper in the second quarter worth $3,602,000. Wealthfront Advisers LLC purchased a new position in Southern Copper in the second quarter worth $361,000. Meeder Advisory Services Inc. bought a new position in Southern Copper in the second quarter valued at $510,000. Finally, Meeder Asset Management Inc. bought a new position in Southern Copper in the second quarter valued at $47,000. Institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $187.81 on Wednesday. The company has a quick ratio of 4.56, a current ratio of 5.06 and a debt-to-equity ratio of 0.63. The stock has a market cap of $156.70 billion, a PE ratio of 27.46, a PEG ratio of 1.58 and a beta of 1.11. The company’s fifty day moving average is $180.68 and its 200 day moving average is $182.94. Southern Copper Corporation has a 52 week low of $92.57 and a 52 week high of $223.88.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.37 billion. Southern Copper’s revenue was up 40.6% on a year-over-year basis. Research analysts anticipate that Southern Copper Corporation will post 7.61 earnings per share for the current year.

Southern Copper Increases Dividend

The business also recently announced 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. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. Southern Copper’s dividend payout ratio is presently 64.33%.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 202 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total transaction of $39,751.28. Following the completion of the sale, the director directly owned 1,723 shares in the company, valued at $339,066.65. This represents a 10.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 711 shares of company stock worth $133,247. Corporate insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SCCO shares. UBS Group restated a “sell” rating and set a $158.10 price target (up from $143.28) on shares of Southern Copper in a research report on Tuesday, June 30th. Wall Street Zen cut Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Citigroup reiterated a “positive” rating on shares of Southern Copper in a research report on Wednesday, July 15th. JPMorgan Chase & Co. raised their price objective on Southern Copper from $125.49 to $129.94 and gave the company an “underweight” rating in a report on Wednesday, June 17th. Finally, Barclays set a $164.03 target price on Southern Copper and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $146.84.

About Southern Copper

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.