Philadelphia Investment Partners LLC Takes Position in Southern Copper Corporation $SCCO

Philadelphia Investment Partners LLC acquired a new position in shares of Southern Copper Corporation (NYSE:SCCO) in the second quarter, HoldingsChannel reports. The fund acquired 10,643 shares of the basic materials company’s stock, valued at approximately $1,909,000. Southern Copper makes up about 1.2% of Philadelphia Investment Partners LLC’s investment portfolio, making the stock its 25th largest holding.

Other large investors have also made changes to their positions in the company. Royal Bank of Canada increased its stake in Southern Copper by 42.1% during the first quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company’s stock worth $4,194,000 after acquiring an additional 13,293 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Southern Copper by 17.9% in the 1st quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company’s stock valued at $627,000 after purchasing an additional 1,020 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of Southern Copper by 21.5% in the 1st quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company’s stock valued at $556,000 after purchasing an additional 1,052 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Southern Copper by 37.4% during the 2nd quarter. First Trust Advisors LP now owns 73,379 shares of the basic materials company’s stock worth $7,424,000 after purchasing an additional 19,957 shares during the period. Finally, Baird Financial Group Inc. grew its holdings in shares of Southern Copper by 17.7% during the 2nd quarter. Baird Financial Group Inc. now owns 4,864 shares of the basic materials company’s stock worth $492,000 after purchasing an additional 731 shares during the period. 7.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. UBS Group restated a “sell” rating and issued a $158.10 price target (up from $143.28) on shares of Southern Copper in a report on Tuesday, June 30th. Zacks Research downgraded shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. CICC Research downgraded shares of Southern Copper to a “market perform” rating in a research note on Sunday, July 26th. Finally, Scotiabank reissued an “underperform” rating and issued a $138.34 target price (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 given a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $146.84.

Insider Transactions at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 202 shares of Southern Copper stock in a transaction that occurred on 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 owned 1,723 shares in the company, valued at $339,066.65. This trade represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 509 shares of company stock valued at $97,753 over the last three months. 0.07% of the stock is owned by company insiders.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $213.68 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.06 and a quick ratio of 4.56. Southern Copper Corporation has a 1-year low of $92.94 and a 1-year high of $223.88. The company has a market capitalization of $178.28 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 1.88 and a beta of 1.11. The business has a 50-day moving average of $183.73 and a 200-day moving average of $183.58.

Southern Copper (NYSE:SCCO) last announced its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.93 by $0.06. The business had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The firm’s revenue was up 40.6% on a year-over-year basis. On average, equities analysts anticipate that Southern Copper Corporation will post 7.61 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 given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.1%. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Tuesday, August 11th. Southern Copper’s dividend payout ratio is 64.33%.

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.