KCM Investment Advisors LLC Boosts Stock Holdings in Southern Copper Corporation $SCCO

KCM Investment Advisors LLC lifted its position in Southern Copper Corporation (NYSE:SCCO) by 7.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,082 shares of the basic materials company’s stock after purchasing an additional 5,951 shares during the period. KCM Investment Advisors LLC’s holdings in Southern Copper were worth $14,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. SHP Wealth Management purchased a new position in Southern Copper in the fourth quarter valued at $25,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Southern Copper during the 4th quarter worth about $29,000. Virtus Advisers LLC purchased a new stake in shares of Southern Copper during the 4th quarter worth about $29,000. Godfrey Financial Associates Inc. acquired a new stake in shares of Southern Copper during the 4th quarter valued at about $30,000. Finally, IFP Advisors Inc grew its position in shares of Southern Copper by 233.3% during the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 161 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Down 0.0%

Shares of NYSE SCCO opened at $179.20 on Tuesday. The company’s 50-day simple moving average is $180.91 and its 200-day simple moving average is $183.75. Southern Copper Corporation has a 52-week low of $88.73 and a 52-week high of $223.88. The firm has a market cap of $148.03 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57.

Southern Copper shares are set to split on the morning of Tuesday, August 11th. The 1.012-1 split was recently announced. The newly created shares will be payable to shareholders after the closing bell on Monday, August 10th.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.06. The firm had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 50.74%. The business’s revenue for the quarter was up 40.6% on a year-over-year basis. Equities analysts predict that Southern Copper Corporation will post 7.63 EPS for the current fiscal year.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be paid a dividend of $1.10 per share. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date is Tuesday, August 11th. This represents a $4.40 annualized dividend and a yield of 2.5%. Southern Copper’s dividend payout ratio (DPR) is presently 64.33%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SCCO. Zacks Research raised Southern Copper from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Morgan Stanley raised their price objective on Southern Copper from $146.00 to $158.00 and gave the company an “underweight” rating in a report on Wednesday, July 8th. CICC Research lowered Southern Copper to a “market perform” rating in a report on Sunday. Scotiabank restated an “underperform” rating and issued a $140.00 price objective (up from $135.00) on shares of Southern Copper in a research report on Monday, June 15th. Finally, JPMorgan Chase & Co. upped their target price on Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and seven have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $148.60.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the completion of the transaction, the director owned 1,807 shares of the company’s stock, valued at $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 404 shares of company stock worth $74,108. 0.07% of the stock is currently owned by insiders.

Southern Copper Profile

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.