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

Harvest Fund Management Co. Ltd boosted its stake in Southern Copper Corporation (NYSE:SCCO) by 89,466.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,374 shares of the basic materials company’s stock after buying an additional 5,368 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Southern Copper were worth $771,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SCCO. Royal Bank of Canada lifted its holdings in Southern Copper by 42.1% in the first quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company’s stock worth $4,194,000 after buying an additional 13,293 shares during the period. Empowered Funds LLC lifted its holdings in Southern Copper by 17.9% in the first quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company’s stock worth $627,000 after buying an additional 1,020 shares during the period. Focus Partners Wealth lifted its holdings in Southern Copper by 21.5% in the first quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company’s stock worth $556,000 after buying an additional 1,052 shares during the period. First Trust Advisors LP lifted its holdings in shares of Southern Copper by 37.4% during the second quarter. First Trust Advisors LP now owns 73,379 shares of the basic materials company’s stock valued at $7,424,000 after purchasing an additional 19,957 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in shares of Southern Copper by 17.7% during the second quarter. Baird Financial Group Inc. now owns 4,864 shares of the basic materials company’s stock valued at $492,000 after purchasing an additional 731 shares during the last quarter. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $173.41 on Friday. Southern Copper Corporation has a twelve month low of $88.73 and a twelve month high of $223.88. The firm has a market cap of $142.04 billion, a P/E ratio of 28.66, a PEG ratio of 1.83 and a beta of 1.09. The company has a 50 day moving average of $182.30 and a 200 day moving average of $173.32. 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 for the quarter, topping analysts’ consensus estimates of $1.88 by $0.04. Southern Copper had a net margin of 34.13% and a return on equity of 45.63%. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $3.96 billion. As a group, research analysts expect that Southern Copper Corporation will post 7.25 EPS for the current fiscal year.

Southern Copper Announces Dividend

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

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the sale, the director owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. The trade was a 9.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 604 shares of company stock valued at $109,136. Insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Bank of America lowered shares of Southern Copper from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $162.00 to $175.00 in a report on Thursday, February 26th. Wells Fargo & Company set a $171.00 target price on shares of Southern Copper and gave the company an “equal weight” rating in a report on Friday, May 1st. Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern Copper in a report on Friday, March 27th. Finally, The Goldman Sachs Group upgraded shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 target price for the company in a report on Friday, April 10th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have issued a Sell rating to the company’s stock. According to data from MarketBeat, Southern Copper currently has an average rating of “Reduce” and an average price target of $145.14.

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.