Kesler Norman & Wride LLC Takes Position in Southern Copper Corporation $SCCO

Kesler Norman & Wride LLC purchased a new position in Southern Copper Corporation (NYSE:SCCO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,186 shares of the basic materials company’s stock, valued at approximately $508,000.

Several other hedge funds have also recently added to or reduced their stakes in SCCO. JPMorgan Chase & Co. boosted its stake in Southern Copper by 10.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,719,883 shares of the basic materials company’s stock worth $174,002,000 after purchasing an additional 168,005 shares during the last quarter. Empower Advisory Group LLC lifted its stake in shares of Southern Copper by 8.4% in the second quarter. Empower Advisory Group LLC now owns 979,877 shares of the basic materials company’s stock worth $99,134,000 after buying an additional 75,653 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Southern Copper by 4.3% in the second quarter. Legal & General Group Plc now owns 941,712 shares of the basic materials company’s stock worth $95,273,000 after buying an additional 38,856 shares in the last quarter. Bollard Group LLC boosted its position in Southern Copper by 14.1% during the second quarter. Bollard Group LLC now owns 834,344 shares of the basic materials company’s stock worth $84,411,000 after acquiring an additional 103,014 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its stake in Southern Copper by 22.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 697,642 shares of the basic materials company’s stock valued at $70,580,000 after acquiring an additional 128,423 shares in the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 400 shares of Southern Copper stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $139.00, for a total value of $55,600.00. Following the completion of the sale, the director owned 1,265 shares in the company, valued at approximately $175,835. This trade represents a 24.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 948 shares of company stock worth $131,130. Company insiders own 0.07% of the company’s stock.

Southern Copper Stock Performance

Shares of Southern Copper stock opened at $170.55 on Friday. The firm has a market cap of $138.52 billion, a PE ratio of 35.75, a price-to-earnings-growth ratio of 1.44 and a beta of 1.06. The company has a quick ratio of 3.91, a current ratio of 4.52 and a debt-to-equity ratio of 0.64. Southern Copper Corporation has a 52 week low of $74.84 and a 52 week high of $171.08. The business’s fifty day simple moving average is $140.40 and its 200-day simple moving average is $119.82.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Friday, October 31st. The basic materials company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.09. Southern Copper had a net margin of 30.98% and a return on equity of 38.74%. The firm had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.05 billion. Equities analysts forecast that Southern Copper Corporation will post 4.66 earnings per share for the current year.

Southern Copper Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Wednesday, November 12th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Wednesday, November 12th. Southern Copper’s dividend payout ratio is currently 75.47%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SCCO shares. HSBC restated a “hold” rating and set a $118.00 target price (up from $105.00) on shares of Southern Copper in a report on Friday, October 17th. Wall Street Zen lowered Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday. Itau BBA Securities cut Southern Copper from a “market perform” rating to an “underperform” rating and set a $126.00 target price for the company. in a report on Monday, December 22nd. The Goldman Sachs Group reiterated a “sell” rating and set a $115.00 price target (up previously from $89.00) on shares of Southern Copper in a report on Wednesday, October 29th. Finally, Zacks Research cut shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $123.85.

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.