Gables Capital Management Inc. Makes New $640,000 Investment in Southern Copper Corporation $SCCO

Gables Capital Management Inc. bought a new stake in shares of Southern Copper Corporation (NYSE:SCCO) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,672 shares of the basic materials company’s stock, valued at approximately $640,000.

Other large investors also recently made changes to their positions in the company. SHP Wealth Management purchased a new stake in shares of Southern Copper in the fourth quarter worth approximately $25,000. Bell Investment Advisors Inc purchased a new position in Southern Copper during the second quarter valued at approximately $26,000. Lloyd Advisory Services LLC. purchased a new position in Southern Copper during the fourth quarter valued at approximately $29,000. Virtus Advisers LLC acquired a new position in Southern Copper in the 4th quarter valued at approximately $29,000. Finally, Godfrey Financial Associates Inc. acquired a new position in Southern Copper in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

SCCO has been the subject of a number of research reports. Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Citigroup reaffirmed a “positive” rating on shares of Southern Copper in a research note on Wednesday, July 15th. Weiss Ratings upgraded Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. CICC Research lowered Southern Copper to a “market perform” rating in a report on Sunday, July 26th. Finally, 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. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have given a Sell rating to the stock. According to data from MarketBeat, Southern Copper presently has an average rating of “Reduce” and an average target price of $146.84.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 202 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 1,723 shares of the company’s stock, valued at approximately $339,066.65. This represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 711 shares of company stock worth $133,247 in the last three months. 0.07% of the stock is owned by insiders.

Southern Copper Stock Down 2.2%

SCCO stock opened at $187.81 on Wednesday. The stock has a market capitalization of $156.70 billion, a price-to-earnings ratio of 27.46, a price-to-earnings-growth ratio of 1.58 and a beta of 1.11. The company has a 50-day moving average of $180.68 and a two-hundred 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 current ratio of 5.06 and a quick ratio of 4.56.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $1.99 EPS for the quarter, topping 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 analyst estimates 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 anticipate that Southern Copper Corporation will post 7.61 EPS for the current year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date is Tuesday, August 11th. Southern Copper’s dividend payout ratio is presently 64.33%.

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.