Oxbow Advisors LLC Acquires Shares of 20,670 Southern Copper Corporation $SCCO

Oxbow Advisors LLC bought a new position in Southern Copper Corporation (NYSE:SCCO) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 20,670 shares of the basic materials company’s stock, valued at approximately $3,602,000.

A number of other institutional investors also recently modified their holdings of SCCO. BlackRock Inc. acquired a new position in shares of Southern Copper in the second quarter worth $1,729,500,000. Bank of New York Mellon Corp acquired a new stake in Southern Copper during the second quarter valued at $696,621,000. Norges Bank acquired a new stake in Southern Copper during the fourth quarter valued at $97,645,000. Capital Research Global Investors purchased a new position in Southern Copper in the fourth quarter valued at about $81,039,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Southern Copper in the first quarter valued at about $85,342,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Performance

SCCO opened at $187.81 on Wednesday. The company has a market cap of $156.70 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 1.58 and a beta of 1.11. The stock has a 50-day moving average of $180.68 and a 200-day moving average of $182.94. Southern Copper Corporation has a 52-week low of $92.57 and a 52-week high of $223.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.56 and a current ratio of 5.06.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data 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 return on equity of 49.04% and a net margin of 35.87%.The business had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.37 billion. The firm’s revenue was up 40.6% compared to the same quarter last year. As a group, equities research analysts forecast that Southern Copper Corporation will post 7.61 earnings per share 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. Investors of record on Tuesday, August 11th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $4.40 annualized dividend and a dividend yield of 2.3%. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s payout ratio is currently 64.33%.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 202 shares of the firm’s 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 transaction, the director directly owned 1,723 shares in the company, valued at approximately $339,066.65. This trade represents a 10.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 711 shares of company stock valued at $133,247. Company insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company raised their price target on Southern Copper from $168.97 to $169.96 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Weiss Ratings raised Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Zacks Research downgraded Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Scotiabank reaffirmed an “underperform” rating and set a $138.34 price objective (up from $133.40) on shares of Southern Copper in a research report on Monday, June 15th. Finally, CICC Research lowered shares of Southern Copper to a “market perform” rating in a research report on Sunday, July 26th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $146.84.

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.