Farther Finance Advisors LLC Purchases 5,637 Shares of Southern Copper Corporation $SCCO

Farther Finance Advisors LLC lifted its position in Southern Copper Corporation (NYSE:SCCO) by 56.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,593 shares of the basic materials company’s stock after purchasing an additional 5,637 shares during the period. Farther Finance Advisors LLC’s holdings in Southern Copper were worth $1,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Southern Copper by 10.8% during the second quarter. JPMorgan Chase & Co. now owns 1,719,883 shares of the basic materials company’s stock valued at $174,002,000 after acquiring an additional 168,005 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Southern Copper by 3.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,398,651 shares of the basic materials company’s stock worth $130,718,000 after purchasing an additional 44,014 shares in the last quarter. Driehaus Capital Management LLC raised its stake in Southern Copper by 2.9% during the 1st quarter. Driehaus Capital Management LLC now owns 1,059,080 shares of the basic materials company’s stock valued at $98,982,000 after purchasing an additional 30,232 shares during the period. Empower Advisory Group LLC raised its stake in Southern Copper by 8.4% during the 2nd quarter. Empower Advisory Group LLC now owns 979,877 shares of the basic materials company’s stock valued at $99,134,000 after purchasing an additional 75,653 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Southern Copper by 4.3% in the 2nd quarter. Legal & General Group Plc now owns 941,712 shares of the basic materials company’s stock worth $95,273,000 after purchasing an additional 38,856 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 400 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $139.00, for a total value of $55,600.00. Following the completion of the sale, the director directly owned 1,265 shares in the company, valued at $175,835. This trade represents a 24.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 948 shares of company stock worth $131,130. Corporate insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley set a $138.00 price objective on shares of Southern Copper and gave the company an “underweight” rating in a report on Monday, December 15th. Citigroup reaffirmed a “sell” rating and set a $108.00 target price (up from $89.10) on shares of Southern Copper in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. HSBC reissued a “hold” rating and set a $118.00 price objective (up previously from $105.00) on shares of Southern Copper in a report on Friday, October 17th. Finally, Itau BBA Securities downgraded Southern Copper from a “market perform” rating to an “underperform” rating and set a $126.00 target price on the stock. in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, Southern Copper presently has a consensus rating of “Reduce” and a consensus price target of $123.85.

Southern Copper Stock Performance

Southern Copper stock opened at $149.49 on Friday. The company’s 50-day moving average price is $136.61 and its 200-day moving average price is $115.66. The company has a quick ratio of 3.91, a current ratio of 4.52 and a debt-to-equity ratio of 0.64. The company has a market cap of $121.42 billion, a PE ratio of 31.34, a price-to-earnings-growth ratio of 1.36 and a beta of 1.07. Southern Copper Corporation has a twelve month low of $74.84 and a twelve month high of $152.19.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Friday, October 31st. The basic materials company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.26 by $0.09. Southern Copper had a return on equity of 38.74% and a net margin of 30.98%.The company had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.05 billion. On average, equities research analysts forecast that Southern Copper Corporation will post 4.66 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Wednesday, November 12th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $3.60 annualized dividend and a dividend yield of 2.4%. Southern Copper’s payout ratio is currently 75.47%.

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.