Harvest Fund Management Co. Ltd Purchases 5,368 Shares of Southern Copper Corporation $SCCO

Harvest Fund Management Co. Ltd raised its position in shares of Southern Copper Corporation (NYSE:SCCO) by 89,466.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,374 shares of the basic materials company’s stock after purchasing an additional 5,368 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Southern Copper were worth $771,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of SCCO. Hopwood Financial Services Inc. bought a new position in Southern Copper during the third quarter valued at $25,000. Lloyd Advisory Services LLC. bought a new position in Southern Copper during the fourth quarter valued at $29,000. Caitlin John LLC bought a new position in Southern Copper during the third quarter valued at $30,000. Godfrey Financial Associates Inc. bought a new position in Southern Copper during the fourth quarter valued at $30,000. Finally, IFP Advisors Inc grew its holdings in Southern Copper by 233.3% during the fourth quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 161 shares during the period. 7.94% of the stock is owned by institutional investors.

Southern Copper Trading Down 10.7%

Shares of SCCO stock opened at $173.41 on Friday. The business has a 50-day moving average price of $182.30 and a two-hundred day moving average price of $173.32. Southern Copper Corporation has a 12-month low of $88.73 and a 12-month high of $223.88. The firm has a market cap of $142.04 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 1.83 and a beta of 1.09. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%.The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Equities analysts anticipate that Southern Copper Corporation will post 7.25 EPS for the current fiscal year.

Southern Copper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, May 13th. Southern Copper’s dividend payout ratio (DPR) is 66.12%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SCCO. Bank of America lowered Southern Copper from a “neutral” rating to an “underperform” rating and increased their price objective for the company from $162.00 to $175.00 in a report on Thursday, February 26th. Morgan Stanley increased their target price on Southern Copper from $155.00 to $160.00 and gave the stock an “underweight” rating in a research report on Thursday, April 9th. UBS Group increased their target price on Southern Copper from $140.00 to $145.00 and gave the stock a “sell” rating in a research report on Thursday, May 21st. Weiss Ratings restated a “buy (b)” rating on shares of Southern Copper in a research report on Friday, March 27th. Finally, JPMorgan Chase & Co. increased their target price on Southern Copper from $117.50 to $127.00 and gave the stock an “underweight” rating in a research report on Friday, April 10th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $145.14.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the transaction, the director directly owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 604 shares of company stock worth $109,136 over the last quarter. 0.07% of the stock is currently owned by company insiders.

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.