24,545 Shares in Southern Copper Corporation $SCCO Bought by Entropy Technologies LP

Entropy Technologies LP acquired a new stake in Southern Copper Corporation (NYSE:SCCO) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 24,545 shares of the basic materials company’s stock, valued at approximately $4,223,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC grew its position in shares of Southern Copper by 0.8% during the 4th quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company’s stock worth $865,000 after buying an additional 50 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of Southern Copper by 0.8% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,072 shares of the basic materials company’s stock valued at $871,000 after acquiring an additional 51 shares during the period. Steel Grove Capital Advisors LLC raised its position in shares of Southern Copper by 1.8% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company’s stock valued at $417,000 after acquiring an additional 52 shares during the period. Ensign Peak Advisors Inc boosted its stake in Southern Copper by 0.8% during the 4th quarter. Ensign Peak Advisors Inc now owns 6,379 shares of the basic materials company’s stock worth $915,000 after acquiring an additional 53 shares during the last quarter. Finally, Venture Visionary Partners LLC boosted its stake in Southern Copper by 0.8% during the 4th quarter. Venture Visionary Partners LLC now owns 6,998 shares of the basic materials company’s stock worth $1,004,000 after acquiring an additional 53 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Insider Activity at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the sale, the director directly owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. The trade was a 9.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 404 shares of company stock worth $74,108 in the last quarter. Company insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

SCCO has been the subject of several recent analyst reports. Morgan Stanley upped their target price on shares of Southern Copper from $146.00 to $158.00 and gave the company an “underweight” rating in a research note on Wednesday, July 8th. Wells Fargo & Company lifted their price target on shares of Southern Copper from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Wall Street Zen raised shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. The Goldman Sachs Group upgraded shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective for the company in a research report on Friday, April 10th. Finally, Citigroup reaffirmed a “positive” rating on shares of Southern Copper in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and seven have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $148.60.

Southern Copper Price Performance

Shares of SCCO opened at $179.69 on Friday. The stock has a 50 day simple moving average of $180.76 and a 200 day simple moving average of $183.39. Southern Copper Corporation has a 52-week low of $88.73 and a 52-week high of $223.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. The firm has a market capitalization of $148.44 billion, a PE ratio of 26.27, a P/E/G ratio of 1.53 and a beta of 1.11.

Shares of Southern Copper are going to split before the market opens on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly issued shares will be payable to shareholders after the closing bell on Monday, August 10th.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The firm had revenue of $4.29 billion for 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 50.74%. The company’s revenue was up 40.6% on a year-over-year basis. Sell-side analysts predict that Southern Copper Corporation will post 7.63 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be issued a dividend of $1.10 per share. The ex-dividend date is Tuesday, August 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.4%. Southern Copper’s dividend payout ratio (DPR) is 58.48%.

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.