ORG Partners LLC Buys 4,690 Shares of Southern Copper Corporation $SCCO

ORG Partners LLC increased its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 7,444.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,753 shares of the basic materials company’s stock after buying an additional 4,690 shares during the quarter. ORG Partners LLC’s holdings in Southern Copper were worth $577,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCCO. Norges Bank bought a new position in Southern Copper in the 2nd quarter valued at about $57,901,000. HRT Financial LP bought a new position in Southern Copper in the second quarter valued at approximately $29,771,000. Man Group plc raised its position in Southern Copper by 65.4% during the second quarter. Man Group plc now owns 467,119 shares of the basic materials company’s stock valued at $47,258,000 after purchasing an additional 184,641 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Southern Copper by 10.8% during the second quarter. JPMorgan Chase & Co. now owns 1,719,883 shares of the basic materials company’s stock worth $174,002,000 after purchasing an additional 168,005 shares during the last quarter. Finally, Ossiam boosted its holdings in shares of Southern Copper by 236,557.7% in the 2nd quarter. Ossiam now owns 168,027 shares of the basic materials company’s stock valued at $16,999,000 after purchasing an additional 167,956 shares in the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Bonilla Luis Miguel Palomino sold 400 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $139.00, for a total value of $55,600.00. Following the transaction, the director directly owned 1,265 shares of the company’s stock, valued at $175,835. The trade was a 24.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 948 shares of company stock worth $131,130. Company insiders own 0.07% of the company’s stock.

Southern Copper Stock Performance

Shares of Southern Copper stock opened at $170.55 on Friday. The stock has a market cap of $138.52 billion, a price-to-earnings ratio of 35.75, a P/E/G ratio of 1.44 and a beta of 1.06. Southern Copper Corporation has a twelve month low of $74.84 and a twelve month high of $171.08. The company’s fifty day moving average is $140.40 and its 200 day moving average is $119.82. The company has a quick ratio of 3.91, a current ratio of 4.52 and a debt-to-equity ratio of 0.64.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Friday, October 31st. The basic materials company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.09. The company had revenue of $3.38 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Southern Copper had a return on equity of 38.74% and a net margin of 30.98%. Sell-side analysts forecast that Southern Copper Corporation will post 4.66 EPS for the current year.

Southern Copper Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Wednesday, November 12th were given a dividend of $0.90 per share. The ex-dividend date was Wednesday, November 12th. This represents a $3.60 annualized dividend and a dividend yield of 2.1%. Southern Copper’s dividend payout ratio is 75.47%.

Analyst Ratings Changes

A number of equities analysts have recently commented on SCCO shares. Jefferies Financial Group set a $155.00 price target on Southern Copper and gave the stock a “buy” rating in a report on Monday, October 6th. Itau BBA Securities downgraded shares of Southern Copper from a “market perform” rating to an “underperform” rating and set a $126.00 price objective for the company. in a research note on Monday, December 22nd. Zacks Research cut shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern Copper in a report on Monday, December 29th. Finally, Wells Fargo & Company set a $144.00 price objective on Southern Copper and gave the company an “equal weight” rating in a report on Tuesday, December 23rd. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $123.85.

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.