3,998 Shares in Southern Copper Corporation $SCCO Bought by Callan Family Office LLC

Callan Family Office LLC bought a new position in shares of Southern Copper Corporation (NYSE:SCCO) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,998 shares of the basic materials company’s stock, valued at approximately $697,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Southern Copper in the second quarter valued at approximately $1,729,500,000. Bank of New York Mellon Corp bought a new stake in shares of Southern Copper during the second quarter worth $696,621,000. Norges Bank bought a new stake in shares of Southern Copper during the fourth quarter worth $97,645,000. Capital Research Global Investors acquired a new stake in shares of Southern Copper during the fourth quarter worth $81,039,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Southern Copper during the first quarter worth $85,342,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SCCO. CICC Research lowered shares of Southern Copper to a “market perform” rating in a research note on Sunday, July 26th. Zacks Research downgraded Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Morgan Stanley lifted their price target on Southern Copper from $144.27 to $156.13 and gave the company an “underweight” rating in a research note on Wednesday, July 8th. Barclays set a $164.03 price target on Southern Copper and gave the company an “underweight” rating in a report on Thursday, July 23rd. Finally, Weiss Ratings raised Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat, Southern Copper currently has a consensus rating of “Reduce” and an average price target of $146.84.

Southern Copper Stock Performance

Shares of SCCO stock opened at $219.70 on Wednesday. Southern Copper Corporation has a 12 month low of $92.94 and a 12 month high of $223.88. The company’s fifty day simple moving average is $183.24 and its 200-day simple moving average is $183.38. The firm has a market cap of $183.30 billion, a PE ratio of 32.12, a P/E/G ratio of 1.84 and a beta of 1.11. 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.06. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The business had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.37 billion. The business’s revenue for the quarter was up 40.6% on a year-over-year basis. Equities research analysts expect that Southern Copper Corporation will post 7.61 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be paid a dividend of $1.10 per share. The ex-dividend date is Tuesday, August 11th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s dividend payout ratio (DPR) is currently 64.33%.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 202 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total value of $39,751.28. Following the completion of the sale, the director 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 filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 509 shares of company stock worth $97,753. Corporate insiders own 0.07% of the company’s stock.

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.