RWC Asset Advisors US LLC Decreases Stock Position in Southern Copper Corporation $SCCO

RWC Asset Advisors US LLC decreased its position in shares of Southern Copper Corporation (NYSE:SCCO) by 34.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,594 shares of the basic materials company’s stock after selling 2,933 shares during the period. Southern Copper makes up about 0.2% of RWC Asset Advisors US LLC’s investment portfolio, making the stock its 16th biggest position. RWC Asset Advisors US LLC’s holdings in Southern Copper were worth $975,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Fund Advisors of America Inc FL purchased a new position in shares of Southern Copper during the 2nd quarter valued at approximately $870,000. Equitable Holdings Inc. bought a new stake in shares of Southern Copper in the second quarter worth $505,000. California Public Employees Retirement System increased its stake in shares of Southern Copper by 21.2% in the first quarter. California Public Employees Retirement System now owns 192,523 shares of the basic materials company’s stock worth $33,126,000 after buying an additional 33,638 shares during the last quarter. B. Metzler seel. Sohn & Co. AG acquired a new stake in Southern Copper in the second quarter valued at $5,266,000. Finally, Ashoka WhiteOak Capital Pte Ltd acquired a new stake in Southern Copper in the fourth quarter valued at $5,460,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of SCCO opened at $198.17 on Tuesday. The stock has a market capitalization of $165.34 billion, a PE ratio of 28.97, a price-to-earnings-growth ratio of 1.83 and a beta of 1.14. The business’s fifty day moving average price is $188.08 and its 200 day moving average price is $184.04. 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 Corporation has a 12-month low of $99.87 and a 12-month high of $223.88.

Southern Copper (NYSE:SCCO) last released its 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 during the quarter, compared to analyst estimates of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The business’s revenue was up 40.6% on a year-over-year basis. Equities research analysts forecast that Southern Copper Corporation will post 7.59 EPS for the current year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were issued a $1.10 dividend. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. Southern Copper’s dividend payout ratio (DPR) is presently 64.33%.

Insider Buying and Selling at Southern Copper

In related news, Director Luis Palomino Bonilla sold 202 shares of the business’s stock in a transaction dated 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. This represents a 10.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 404 shares of company stock worth $77,077. 0.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SCCO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective 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. Weiss Ratings raised shares of Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Morgan Stanley upped their target price on shares of Southern Copper from $144.27 to $156.13 and gave the company an “underweight” rating in a research note on Wednesday, July 8th. Citigroup reaffirmed a “positive” rating on shares of Southern Copper in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company boosted their price objective on Southern Copper from $168.97 to $169.96 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat.com, Southern Copper has an average 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.