Commerzbank Aktiengesellschaft FI Acquires Shares of 9,476 Southern Copper Corporation $SCCO

Commerzbank Aktiengesellschaft FI purchased a new position in shares of Southern Copper Corporation (NYSE:SCCO) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 9,476 shares of the basic materials company’s stock, valued at approximately $907,000.

Several other institutional investors have also recently made changes to their positions in SCCO. Intech Investment Management LLC lifted its position in Southern Copper by 0.8% in the fourth quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company’s stock valued at $865,000 after buying an additional 50 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in Southern Copper by 0.8% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,072 shares of the basic materials company’s stock valued at $871,000 after buying an additional 51 shares during the period. Steel Grove Capital Advisors LLC boosted its holdings in Southern Copper by 1.8% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company’s stock valued at $417,000 after purchasing an additional 52 shares during the period. Ensign Peak Advisors Inc boosted its stake in shares of Southern Copper by 0.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 6,379 shares of the basic materials company’s stock valued at $915,000 after buying an additional 53 shares during the period. Finally, Venture Visionary Partners LLC lifted its stake in Southern Copper by 0.8% in the fourth quarter. Venture Visionary Partners LLC now owns 6,998 shares of the basic materials company’s stock worth $1,004,000 after acquiring an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Analysts Set New Price Targets

SCCO has been the subject of a number of research analyst reports. Zacks Research downgraded Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Barclays set a $164.03 target price on shares of Southern Copper and gave the stock an “underweight” rating in a research note on Thursday, July 23rd. Scotiabank reiterated an “underperform” rating and issued a $138.34 price objective (up from $133.40) on shares of Southern Copper in a research report on Monday, June 15th. Wells Fargo & Company lifted their price objective on Southern Copper from $168.97 to $169.96 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Finally, Weiss Ratings upgraded shares of Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have given a Sell rating to the company. According to MarketBeat.com, Southern Copper currently has a consensus rating of “Reduce” and an average target price of $146.84.

Southern Copper Stock 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 company has a market cap of $156.70 billion, a P/E ratio of 27.46, a P/E/G ratio of 1.58 and a beta of 1.11. The firm’s 50 day moving average is $180.68 and its two-hundred day moving average is $182.94. Southern Copper Corporation has a fifty-two week low of $92.57 and a fifty-two week high of $223.88.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.06. The firm had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The firm’s revenue for the quarter was up 40.6% on a year-over-year basis. Analysts expect that Southern Copper Corporation will post 7.61 EPS for the current year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, August 11th. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s payout ratio is presently 64.33%.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 202 shares of the company’s stock in a transaction that occurred 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 sale, the director directly owned 1,723 shares of the company’s stock, valued at approximately $339,066.65. This represents a 10.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 711 shares of company stock valued at $133,247 over the last three months. 0.07% of the stock is owned by 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.