20,670 Shares in Southern Copper Corporation $SCCO Purchased by Oxbow Advisors LLC

Oxbow Advisors LLC bought a new stake in shares of Southern Copper Corporation (NYSE:SCCO) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 20,670 shares of the basic materials company’s stock, valued at approximately $3,602,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. California Public Employees Retirement System increased its stake in Southern Copper by 21.2% during the first quarter. California Public Employees Retirement System now owns 192,523 shares of the basic materials company’s stock valued at $33,126,000 after acquiring an additional 33,638 shares during the period. RFG Advisory LLC bought a new stake in shares of Southern Copper in the 4th quarter worth approximately $1,147,000. US Bancorp DE lifted its position in shares of Southern Copper by 16.2% in the 4th quarter. US Bancorp DE now owns 74,484 shares of the basic materials company’s stock worth $10,687,000 after acquiring an additional 10,360 shares during the period. Ashoka WhiteOak Capital Pte Ltd acquired a new stake in shares of Southern Copper during the 4th quarter worth approximately $5,460,000. Finally, Precision Wealth Strategies LLC acquired a new stake in shares of Southern Copper during the 1st quarter worth approximately $2,769,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Down 2.2%

NYSE SCCO opened at $187.81 on Wednesday. The company has a current ratio of 5.06, a quick ratio of 4.56 and a debt-to-equity ratio of 0.63. The stock’s 50 day moving average is $180.68 and its two-hundred day moving average is $182.94. The company has a market capitalization of $156.70 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 1.58 and a beta of 1.11. Southern Copper Corporation has a 1-year low of $92.57 and a 1-year high of $223.88.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.06. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The company had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.37 billion. The firm’s quarterly revenue was up 40.6% on a year-over-year basis. Equities analysts forecast that Southern Copper Corporation will post 7.61 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $4.40 annualized dividend and a yield of 2.3%. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s payout ratio is presently 64.33%.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 202 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total value of $39,751.28. Following the sale, the director directly owned 1,723 shares in the company, valued at $339,066.65. This represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 711 shares of company stock valued at $133,247 in the last quarter. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

SCCO has been the topic of a number of research reports. Barclays set a $164.03 price objective on Southern Copper and gave the company an “underweight” rating in a research report on Thursday, July 23rd. Zacks Research cut Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Wall Street Zen downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Scotiabank reissued an “underperform” rating and issued a $138.34 price target (up from $133.40) on shares of Southern Copper in a report on Monday, June 15th. Finally, CICC Research cut shares of Southern Copper to a “market perform” rating in a research note on Sunday, July 26th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $146.84.

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.