NINE MASTS CAPITAL Ltd Invests $514,000 in Southern Copper Corporation $SCCO

NINE MASTS CAPITAL Ltd acquired a new position in shares of Southern Copper Corporation (NYSE:SCCO) in the second quarter, Holdings Channel reports. The firm acquired 2,952 shares of the basic materials company’s stock, valued at approximately $514,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SCCO. Fund Advisors of America Inc FL bought a new stake in shares of Southern Copper in the 2nd quarter valued at about $870,000. California Public Employees Retirement System lifted its position in Southern Copper by 21.2% during the first quarter. California Public Employees Retirement System now owns 192,523 shares of the basic materials company’s stock valued at $33,126,000 after acquiring an additional 33,638 shares during the last quarter. B. Metzler seel. Sohn & Co. AG purchased a new stake in Southern Copper during the second quarter valued at approximately $5,266,000. RFG Advisory LLC acquired a new stake in Southern Copper in the fourth quarter valued at approximately $1,147,000. Finally, US Bancorp DE boosted its stake in Southern Copper by 16.2% in the fourth quarter. US Bancorp DE now owns 74,484 shares of the basic materials company’s stock valued at $10,687,000 after acquiring an additional 10,360 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. CICC Research downgraded Southern Copper to a “market perform” rating in a research report on Sunday, July 26th. Barclays set a $164.03 price objective on Southern Copper and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. boosted 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. Wall Street Zen lowered Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Zacks Research lowered Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat, Southern Copper presently has an average rating of “Reduce” and a consensus target price of $146.84.

Southern Copper Trading Up 0.8%

Shares of NYSE:SCCO opened at $211.58 on Monday. 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 Corporation has a 52-week low of $92.94 and a 52-week high of $223.88. The stock has a market cap of $176.53 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 1.80 and a beta of 1.11. The business has a 50-day moving average price of $184.67 and a 200-day moving average price of $183.78.

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

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were issued a $1.10 dividend. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $4.40 annualized dividend and a dividend yield of 2.1%. Southern Copper’s payout ratio is currently 64.33%.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 202 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $196.79, for a total value of $39,751.28. Following the sale, the director owned 1,723 shares in the company, valued at $339,066.65. This represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 509 shares of company stock valued at $97,753. 0.07% of the stock is owned by corporate insiders.

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.