Danske Bank A S Makes New $3.72 Million Investment in Southern Copper Corporation $SCCO

Danske Bank A S acquired a new position in Southern Copper Corporation (NYSE:SCCO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 38,863 shares of the basic materials company’s stock, valued at approximately $3,720,000.

A number of other large investors also recently modified their holdings of the company. Diversify Advisory Services LLC bought a new stake in Southern Copper in the second quarter worth $3,046,000. Gables Capital Management Inc. bought a new stake in Southern Copper in the 2nd quarter worth approximately $640,000. Oxbow Advisors LLC purchased a new position in Southern Copper during the second quarter worth $3,602,000. Wealthfront Advisers LLC purchased a new stake in Southern Copper in the 2nd quarter worth about $361,000. Finally, Meeder Advisory Services Inc. bought a new position in shares of Southern Copper in the second quarter worth about $510,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Trading Up 8.8%

NYSE:SCCO opened at $216.30 on Friday. The stock has a market cap of $180.47 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 1.70 and a beta of 1.11. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.56 and a current ratio of 5.06. The business has a fifty day moving average of $182.23 and a 200-day moving average of $183.20. Southern Copper Corporation has a 1 year low of $92.94 and a 1 year high of $223.88.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share for the quarter, topping 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 return on equity of 49.04% and a net margin of 35.87%.The company’s quarterly revenue was up 40.6% compared to the same quarter last year. Equities analysts predict that Southern Copper Corporation will post 7.61 earnings per share for the current year.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $4.40 annualized dividend and a yield of 2.0%. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s payout ratio is presently 64.33%.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 202 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $196.79, for a total transaction of $39,751.28. Following the transaction, the director directly owned 1,723 shares in the company, valued at approximately $339,066.65. This represents a 10.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 509 shares of company stock worth $97,753. 0.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SCCO has been the subject of several research analyst reports. CICC Research lowered shares of Southern Copper to a “market perform” rating in a research report on Sunday, July 26th. JPMorgan Chase & Co. raised their target price on Southern Copper from $125.49 to $129.94 and gave the stock an “underweight” rating in a research note on Wednesday, June 17th. Scotiabank reissued an “underperform” rating and issued a $138.34 price target (up from $133.40) on shares of Southern Copper in a research report on Monday, June 15th. Zacks Research lowered shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Finally, Barclays set a $164.03 target price on Southern Copper and gave the company an “underweight” rating in a report on Thursday, July 23rd. 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $146.84.

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.