61,305 Shares in Southern Copper Corporation $SCCO Purchased by Commerce Bank

Commerce Bank purchased a new stake in shares of Southern Copper Corporation (NYSE:SCCO) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 61,305 shares of the basic materials company’s stock, valued at approximately $10,683,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Intech Investment Management LLC increased its stake in shares of Southern Copper by 0.8% during 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 period. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of Southern Copper by 0.8% during the fourth 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 raised its stake 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 worth $417,000 after buying an additional 52 shares in the last quarter. Ensign Peak Advisors Inc raised its stake in Southern Copper by 0.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 6,379 shares of the basic materials company’s stock worth $915,000 after buying an additional 53 shares in the last quarter. Finally, Venture Visionary Partners LLC lifted its holdings 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 buying an additional 53 shares during the period. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 202 shares of the 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 509 shares of company stock valued at $97,753. Insiders own 0.07% of the company’s stock.

Southern Copper Stock Up 0.1%

SCCO stock opened at $216.30 on Monday. The business has a 50 day moving average of $182.23 and a 200 day moving average of $183.16. The firm has a market cap of $180.47 billion, a PE ratio of 31.62, a price-to-earnings-growth ratio of 1.85 and a beta of 1.11. Southern Copper Corporation has a twelve month low of $92.94 and a twelve month high of $223.88. The company has a quick ratio of 4.56, a current ratio of 5.06 and a debt-to-equity ratio of 0.63.

Southern Copper (NYSE:SCCO) last released its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.93 by $0.06. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The business had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, research analysts forecast that Southern Copper Corporation will post 7.61 EPS for the current fiscal year.

Southern Copper Increases Dividend

The company 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. This represents a $4.40 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, August 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s dividend payout ratio (DPR) is presently 64.33%.

Analysts Set New Price Targets

SCCO has been the topic of several research reports. 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 research report on Thursday, July 9th. UBS Group reissued a “sell” rating and issued a $158.10 target price (up from $143.28) on shares of Southern Copper in a research report on Tuesday, June 30th. JPMorgan Chase & Co. raised their target price on Southern Copper from $125.49 to $129.94 and gave the company an “underweight” rating in a research note on Wednesday, June 17th. Zacks Research lowered Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, Scotiabank reaffirmed an “underperform” rating and issued a $138.34 price target (up from $133.40) on shares of Southern Copper in a research note on Monday, June 15th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have given a Sell rating to the stock. According to data from MarketBeat.com, Southern Copper presently has a consensus rating of “Reduce” and an average target price of $146.84.

Southern Copper Company 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.