Fidelis Capital Partners LLC acquired a new position in shares of Southern Copper Co. (NYSE:SCCO – Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 242 shares of the basic materials company’s stock, valued at approximately $26,000.
A number of other hedge funds also recently made changes to their positions in the stock. Fortis Group Advisors LLC increased its holdings in Southern Copper by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 151 shares in the last quarter. Riverview Trust Co bought a new stake in Southern Copper in the first quarter worth approximately $27,000. Viking Fund Management LLC bought a new stake in Southern Copper in the fourth quarter worth approximately $31,000. Venturi Wealth Management LLC increased its holdings in Southern Copper by 164.8% in the fourth quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 300 shares in the last quarter. Finally, Washington Trust Advisors Inc. bought a new stake in Southern Copper in the fourth quarter worth approximately $45,000. 7.94% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Southern Copper news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $118.30, for a total value of $425,880.00. Following the transaction, the director now owns 2,214 shares of the company’s stock, valued at $261,916.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 300 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $118.50, for a total value of $35,550.00. Following the transaction, the director now owns 4,614 shares of the company’s stock, valued at $546,759. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $118.30, for a total value of $425,880.00. Following the completion of the transaction, the director now directly owns 2,214 shares in the company, valued at approximately $261,916.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,000 shares of company stock valued at $472,430. Insiders own 0.08% of the company’s stock.
Southern Copper Stock Up 1.1 %
Shares of NYSE:SCCO opened at $116.30 on Thursday. The stock has a market cap of $90.85 billion, a price-to-earnings ratio of 38.64, a PEG ratio of 1.15 and a beta of 1.19. The company has a quick ratio of 2.56, a current ratio of 3.31 and a debt-to-equity ratio of 0.82. Southern Copper Co. has a 12-month low of $68.93 and a 12-month high of $129.79. The business’s 50 day moving average is $114.48 and its 200 day moving average is $100.58.
Southern Copper (NYSE:SCCO – Get Free Report) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.17. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Southern Copper had a return on equity of 30.44% and a net margin of 24.20%. On average, sell-side analysts forecast that Southern Copper Co. will post 4.45 earnings per share for the current fiscal year.
Southern Copper Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th were given a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.04 annualized dividend and a yield of 0.03%. Southern Copper’s dividend payout ratio is currently 1.33%.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. Scotiabank lowered their target price on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating for the company in a report on Tuesday, May 21st. JPMorgan Chase & Co. decreased their price objective on Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a report on Thursday, March 21st. Morgan Stanley boosted their price objective on Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a report on Friday, June 21st. The Goldman Sachs Group boosted their price objective on Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a report on Friday, March 22nd. Finally, Jefferies Financial Group upgraded Southern Copper from a “hold” rating to a “buy” rating and boosted their price objective for the company from $91.00 to $130.00 in a report on Friday, March 22nd. Five investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Southern Copper has a consensus rating of “Hold” and a consensus target price of $84.50.
Get Our Latest Stock Analysis on SCCO
About Southern Copper
Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.
Further Reading
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