Gables Capital Management Inc. Takes $640,000 Position in Southern Copper Corporation $SCCO

Gables Capital Management Inc. bought a new stake in Southern Copper Corporation (NYSE:SCCO) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 3,672 shares of the basic materials company’s stock, valued at approximately $640,000.

A number of other institutional investors have also added to or reduced their stakes in the company. SHP Wealth Management bought a new position in Southern Copper during the fourth quarter valued at about $25,000. Bell Investment Advisors Inc acquired a new position in Southern Copper in the 2nd quarter valued at approximately $26,000. Lloyd Advisory Services LLC. bought a new stake in shares of Southern Copper in the 4th quarter worth approximately $29,000. Virtus Advisers LLC bought a new stake in shares of Southern Copper in the 4th quarter worth approximately $29,000. Finally, Godfrey Financial Associates Inc. acquired a new stake in shares of Southern Copper during the 4th quarter worth approximately $30,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Price Performance

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 firm has a market cap of $156.70 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 1.58 and a beta of 1.11. Southern Copper Corporation has a 12 month low of $92.57 and a 12 month high of $223.88. The company’s 50-day moving average price is $180.68 and its two-hundred day moving average price is $182.94.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data 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 analyst estimates of $4.37 billion. The business’s revenue was up 40.6% on a year-over-year basis. On average, equities analysts anticipate that Southern Copper Corporation will post 7.61 EPS for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be given a dividend of $1.10 per share. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date is Tuesday, August 11th. This represents a $4.40 dividend on an annualized basis and a yield of 2.3%. Southern Copper’s dividend payout ratio is currently 64.33%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Weiss Ratings upgraded Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. 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. Wall Street Zen downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. JPMorgan Chase & Co. boosted their price target on shares of Southern Copper from $125.49 to $129.94 and gave the company an “underweight” rating in a report on Wednesday, June 17th. Finally, CICC Research cut shares of Southern Copper to a “market perform” rating in a research note on Sunday, July 26th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $146.84.

Insider Buying and Selling

In related news, Director Bonilla Luis Miguel Palomino sold 202 shares of the firm’s stock in a transaction on 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 of the company’s stock, 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 at this hyperlink. In the last 90 days, insiders sold 711 shares of company stock worth $133,247. 0.07% of the stock is owned by corporate insiders.

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.