Steel Grove Capital Advisors LLC Purchases Shares of 2,750 Southern Copper Co. (NYSE:SCCO)

Steel Grove Capital Advisors LLC purchased a new stake in shares of Southern Copper Co. (NYSE:SCCO) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,750 shares of the basic materials company’s stock, valued at approximately $293,000.

Other institutional investors have also added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new position in shares of Southern Copper during the first quarter valued at about $26,000. Riverview Trust Co purchased a new stake in shares of Southern Copper during the first quarter valued at approximately $27,000. Fortis Group Advisors LLC grew its holdings in shares of Southern Copper by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after buying an additional 151 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Southern Copper by 164.8% during the fourth quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock valued at $41,000 after buying an additional 300 shares during the last quarter. Finally, Washington Trust Advisors Inc. purchased a new stake in shares of Southern Copper during the fourth quarter valued at approximately $45,000. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 300 shares of Southern Copper stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $118.50, for a total transaction of $35,550.00. Following the completion of the sale, the director now owns 4,614 shares in the company, valued at approximately $546,759. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $118.30, for a total value of $425,880.00. Following the completion of the sale, the director now owns 2,214 shares in the company, valued at approximately $261,916.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bonilla Luis Miguel Palomino sold 300 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $118.50, for a total transaction of $35,550.00. Following the completion of the sale, the director now owns 4,614 shares of the company’s stock, valued at approximately $546,759. The disclosure for this sale can be found here. Insiders sold 4,000 shares of company stock worth $472,430 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

Southern Copper Trading Up 1.0 %

Shares of SCCO stock traded up $1.08 during trading hours on Friday, reaching $105.42. 731,692 shares of the stock were exchanged, compared to its average volume of 1,021,754. Southern Copper Co. has a 12-month low of $68.93 and a 12-month high of $129.79. The company has a current ratio of 3.31, a quick ratio of 2.56 and a debt-to-equity ratio of 0.82. The company’s 50-day moving average price is $111.95 and its 200-day moving average price is $102.46. The firm has a market capitalization of $82.35 billion, a price-to-earnings ratio of 35.04, a price-to-earnings-growth ratio of 1.08 and a beta of 1.19.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.17. Southern Copper had a net margin of 24.20% and a return on equity of 30.44%. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. As a group, equities analysts anticipate that Southern Copper Co. will post 4.34 earnings per share for the current year.

Southern Copper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, August 9th. This represents a $2.40 dividend on an annualized basis and a yield of 2.28%. Southern Copper’s payout ratio is 92.07%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. CICC Research initiated coverage on shares of Southern Copper in a report on Wednesday, April 24th. They set an “outperform” rating on the stock. StockNews.com upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Scotiabank dropped their target price on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a report on Tuesday, May 21st. Morgan Stanley raised their target price on shares of Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a report on Friday, June 21st. Finally, HSBC cut shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 target price on the stock. in a report on Monday, April 22nd. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $89.57.

Southern Copper Company Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.