O Shaughnessy Asset Management LLC increased its stake in Southern Copper Co. (NYSE:SCCO – Free Report) by 34.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,228 shares of the basic materials company’s stock after purchasing an additional 2,111 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Southern Copper were worth $876,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC boosted its holdings in Southern Copper by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 3,349,984 shares of the basic materials company’s stock worth $288,333,000 after purchasing an additional 39,422 shares during the last quarter. abrdn plc boosted its holdings in Southern Copper by 2.3% in the fourth quarter. abrdn plc now owns 3,041,233 shares of the basic materials company’s stock worth $261,759,000 after purchasing an additional 67,930 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Southern Copper by 54.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,541,396 shares of the basic materials company’s stock worth $164,190,000 after purchasing an additional 544,312 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Southern Copper by 1.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,014,356 shares of the basic materials company’s stock worth $87,306,000 after acquiring an additional 18,883 shares during the period. Finally, Vanguard Group Inc. raised its position in Southern Copper by 1.3% in the third quarter. Vanguard Group Inc. now owns 968,149 shares of the basic materials company’s stock worth $72,892,000 after acquiring an additional 12,201 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.
Insider Buying and Selling at Southern Copper
In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 300 shares of Southern Copper stock in a transaction on Monday, April 29th. The shares were sold at an average price of $118.50, for a total value of $35,550.00. Following the sale, the director now directly owns 4,614 shares in the company, valued at approximately $546,759. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 300 shares of Southern Copper stock in a transaction on Monday, April 29th. The shares were sold at an average price of $118.50, for a total value of $35,550.00. Following the completion of the transaction, the director now directly owns 4,614 shares of the company’s stock, valued at approximately $546,759. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of Southern Copper stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $118.30, for a total transaction of $425,880.00. Following the completion of the transaction, the director now directly owns 2,214 shares of the company’s stock, valued at $261,916.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,000 shares of company stock worth $472,430. Insiders own 0.08% of the company’s stock.
Southern Copper Stock Up 1.0 %
Shares of SCCO stock opened at $105.42 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.31 and a quick ratio of 2.56. The company has a market capitalization of $82.35 billion, a price-to-earnings ratio of 35.04, a PEG ratio of 1.08 and a beta of 1.19. The company’s fifty day moving average price is $111.95 and its 200-day moving average price is $102.46. Southern Copper Co. has a one year low of $68.93 and a one year high of $129.79.
Southern Copper (NYSE:SCCO – Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.17. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. Southern Copper had a net margin of 24.20% and a return on equity of 30.44%. Sell-side analysts expect that Southern Copper Co. will post 4.34 EPS for the current fiscal year.
Southern Copper Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.40 dividend on an annualized basis and a yield of 2.28%. Southern Copper’s dividend payout ratio is currently 92.07%.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. HSBC downgraded shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price target on the stock. in a research report on Monday, April 22nd. Morgan Stanley increased their price target on shares of Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a research report on Friday, June 21st. StockNews.com upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. UBS Group initiated coverage on shares of Southern Copper in a research report on Friday, July 12th. They issued a “neutral” rating and a $120.00 price target on the stock. Finally, Scotiabank decreased their price objective on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, May 21st. Five equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Southern Copper has a consensus rating of “Hold” and an average price target of $89.57.
Read Our Latest Report 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.
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