Southern Copper Corporation $SCCO Stock Acquired by Philadelphia Trust Co.

Philadelphia Trust Co. lifted its stake in Southern Copper Corporation (NYSE:SCCO) by 96.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,572 shares of the basic materials company’s stock after purchasing an additional 4,700 shares during the period. Philadelphia Trust Co.’s holdings in Southern Copper were worth $1,940,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Lido Advisors LLC lifted its stake in shares of Southern Copper by 6.7% during the third quarter. Lido Advisors LLC now owns 17,629 shares of the basic materials company’s stock valued at $3,572,000 after acquiring an additional 1,105 shares during the period. Gen Wealth Partners Inc acquired a new stake in Southern Copper in the third quarter worth about $33,000. Welch & Forbes LLC acquired a new stake in Southern Copper in the third quarter worth about $231,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Southern Copper in the third quarter worth about $233,000. Finally, Ethic Inc. raised its holdings in Southern Copper by 65.0% during the 3rd quarter. Ethic Inc. now owns 3,345 shares of the basic materials company’s stock worth $678,000 after purchasing an additional 1,318 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SCCO. Wells Fargo & Company set a $190.98 target price on shares of Southern Copper and gave the company an “equal weight” rating in a research report on Friday, October 23rd. Morgan Stanley reiterated an “underweight” rating and set a $168.22 price target on shares of Southern Copper in a research report on Wednesday, October 7th. Citigroup reissued a “positive” rating on shares of Southern Copper in a research note on Wednesday, July 15th. Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday. Finally, UBS Group upgraded shares of Southern Copper from a “sell” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $159.47.

Southern Copper Trading Down 3.4%

NYSE SCCO opened at $169.97 on Wednesday. The stock has a 50-day simple moving average of $193.22 and a 200 day simple moving average of $185.42. The company has a market capitalization of $143.51 billion, a PE ratio of 23.04, a P/E/G ratio of 1.62 and a beta of 1.15. The company has a current ratio of 4.31, a quick ratio of 3.93 and a debt-to-equity ratio of 0.59. Southern Copper Corporation has a 12 month low of $119.25 and a 12 month high of $223.88.

Southern Copper (NYSE:SCCO) last released its earnings results on Wednesday, October 21st. The basic materials company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.12. Southern Copper had a return on equity of 51.61% and a net margin of 37.16%. The firm had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the prior year, the firm posted $1.34 earnings per share. Research analysts forecast that Southern Copper Corporation will post 8.01 EPS for the current year.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Tuesday, November 3rd will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, November 3rd. This is a boost from Southern Copper’s previous quarterly dividend of $1.10. Southern Copper’s dividend payout ratio (DPR) is 68.06%.

About Southern Copper

Southern Copper Corporation is an integrated mining company focused primarily on the exploration, mining, processing, and refining of copper. Its operations also produce molybdenum, zinc, lead, silver, and other mineral products. The company operates mines and processing facilities in Peru and Mexico, including the Toquepala and Cuajone operations in Peru and the Buenavista and La Caridad operations in Mexico. Its activities extend across the mining and metals value chain, from extracting ore to producing refined metals and concentrates.