Callan Family Office LLC Makes New $697,000 Investment in Southern Copper Corporation $SCCO

Callan Family Office LLC acquired a new stake in Southern Copper Corporation (NYSE:SCCO) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 3,998 shares of the basic materials company’s stock, valued at approximately $697,000.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Southern Copper during the 2nd quarter worth approximately $1,729,500,000. Bank of New York Mellon Corp bought a new stake in Southern Copper in the 2nd quarter valued at $696,621,000. State Street Corp lifted its holdings in Southern Copper by 2.4% during the 4th quarter. State Street Corp now owns 2,862,244 shares of the basic materials company’s stock valued at $410,646,000 after purchasing an additional 66,268 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Southern Copper by 0.3% during the 4th quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company’s stock valued at $363,873,000 after purchasing an additional 7,194 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Southern Copper by 8.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,181,293 shares of the basic materials company’s stock worth $169,480,000 after purchasing an additional 90,237 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Scotiabank reiterated an “underperform” rating and issued a $138.34 price objective (up from $133.40) on shares of Southern Copper in a report on Monday, June 15th. Wall Street Zen cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Wells Fargo & Company lifted their target price on shares of Southern Copper from $168.97 to $169.96 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. upped their price target on shares of Southern Copper from $125.49 to $129.94 and gave the company an “underweight” rating in a research note on Wednesday, June 17th. Finally, Morgan Stanley increased their price target on shares of Southern Copper from $144.27 to $156.13 and gave the company an “underweight” rating in a report on Wednesday, July 8th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $146.84.

Southern Copper Stock Up 2.5%

NYSE SCCO opened at $219.70 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 company has a market cap of $183.30 billion, a price-to-earnings ratio of 32.12, a PEG ratio of 1.84 and a beta of 1.11. The company has a 50 day moving average of $183.24 and a 200-day moving average of $183.38. Southern Copper Corporation has a 1-year low of $92.94 and a 1-year high of $223.88.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (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 the consensus estimate of $4.37 billion. The business’s quarterly revenue was up 40.6% compared to the same quarter last year. On average, equities research analysts expect 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. Stockholders of record on Tuesday, August 11th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Tuesday, August 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s dividend payout ratio is currently 64.33%.

Insider Activity

In related news, Director Bonilla Luis Miguel Palomino sold 202 shares of the firm’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 transaction, the director owned 1,723 shares in the company, valued at approximately $339,066.65. This trade represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 509 shares of company stock worth $97,753. Corporate insiders own 0.07% of the company’s stock.

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.