38,863 Shares in Southern Copper Corporation $SCCO Purchased by Danske Bank A S

Danske Bank A S bought a new stake in Southern Copper Corporation (NYSE:SCCO) during the 2nd quarter, HoldingsChannel reports. The fund bought 38,863 shares of the basic materials company’s stock, valued at approximately $3,720,000.

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

Insiders Place Their Bets

In other news, Director Bonilla Luis Miguel Palomino sold 202 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $196.79, for a total transaction of $39,751.28. Following the completion of the sale, the director owned 1,723 shares of the company’s stock, valued at $339,066.65. The trade was a 10.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 509 shares of company stock worth $97,753. 0.07% of the stock is currently owned by insiders.

Southern Copper Stock Up 8.8%

Southern Copper stock opened at $216.30 on Friday. Southern Copper Corporation has a 1-year low of $92.94 and a 1-year high of $223.88. The firm’s fifty day moving average price is $182.23 and its two-hundred day moving average price is $183.20. The firm has a market capitalization of $180.47 billion, a price-to-earnings ratio of 31.62, a price-to-earnings-growth ratio of 1.70 and a beta of 1.11. The company has a current ratio of 5.06, a quick ratio of 4.56 and a debt-to-equity ratio of 0.63.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results 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. The firm had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The firm’s quarterly revenue was up 40.6% on a year-over-year basis. On average, equities research analysts predict that Southern Copper Corporation will post 7.61 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be paid a dividend of $1.10 per share. The ex-dividend date is Tuesday, August 11th. This represents a $4.40 annualized dividend and a yield of 2.0%. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s dividend payout ratio (DPR) is currently 64.33%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SCCO shares. CICC Research lowered shares of Southern Copper to a “market perform” rating in a report on Sunday, July 26th. Barclays set a $164.03 price target on shares of Southern Copper and gave the stock an “underweight” rating in a report on Thursday, July 23rd. UBS Group reissued a “sell” rating and set a $158.10 price objective (up from $143.28) on shares of Southern Copper in a report on Tuesday, June 30th. JPMorgan Chase & Co. boosted their price objective on Southern Copper from $125.49 to $129.94 and gave the stock an “underweight” rating in a research report on Wednesday, June 17th. Finally, Zacks Research downgraded Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. 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 stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $146.84.

About Southern Copper

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.