Beacon Investment Advisory Services Inc. Has $12.72 Million Holdings in Southern Copper Corporation $SCCO

Beacon Investment Advisory Services Inc. raised its position in shares of Southern Copper Corporation (NYSE:SCCO) by 47.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,648 shares of the basic materials company’s stock after purchasing an additional 28,674 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Southern Copper were worth $12,718,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SCCO. Capital World Investors increased its holdings in Southern Copper by 36.1% in the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock worth $781,268,000 after buying an additional 1,708,693 shares during the last quarter. State Street Corp grew its position in Southern Copper by 1.5% in the third quarter. State Street Corp now owns 2,795,976 shares of the basic materials company’s stock worth $339,320,000 after acquiring an additional 40,847 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Southern Copper by 12.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,091,632 shares of the basic materials company’s stock worth $132,479,000 after purchasing an additional 123,532 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Southern Copper by 1.5% during the 3rd quarter. Legal & General Group Plc now owns 955,924 shares of the basic materials company’s stock worth $116,012,000 after purchasing an additional 14,212 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Southern Copper by 11.2% during the 3rd quarter. Vanguard Group Inc. now owns 950,018 shares of the basic materials company’s stock valued at $115,294,000 after purchasing an additional 96,013 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Southern Copper

In related news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $209.56, for a total transaction of $1,954,344.91. Following the completion of the sale, the director owned 605 shares in the company, valued at $126,783.04. This represents a 93.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bonilla Luis Miguel Palomino sold 193 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $174.60, for a total value of $33,697.80. Following the completion of the sale, the director directly owned 1,707 shares in the company, valued at $298,042.20. This trade represents a 10.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,526 shares of company stock worth $1,989,373 over the last quarter. 0.07% of the stock is currently owned by corporate insiders.

Southern Copper Price Performance

NYSE SCCO opened at $161.91 on Monday. The company has a current ratio of 3.89, a quick ratio of 3.40 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $189.78 and a 200 day simple moving average of $154.17. The company has a market cap of $132.62 billion, a P/E ratio of 30.43, a P/E/G ratio of 1.67 and a beta of 1.03. Southern Copper Corporation has a 1 year low of $74.84 and a 1 year high of $223.88.

Southern Copper (NYSE:SCCO) last announced its earnings results on Wednesday, January 28th. The basic materials company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.54 by $0.01. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.73 billion. Southern Copper had a net margin of 32.30% and a return on equity of 41.97%. During the same quarter last year, the firm posted $0.98 EPS. On average, sell-side analysts predict that Southern Copper Corporation will post 4.66 EPS for the current year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th were given a $1.00 dividend. This is an increase from Southern Copper’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, February 10th. Southern Copper’s dividend payout ratio (DPR) is 75.19%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SCCO shares. Scotiabank reaffirmed an “underperform” rating on shares of Southern Copper in a research note on Tuesday, January 27th. Zacks Research downgraded shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Wells Fargo & Company set a $190.38 target price on Southern Copper and gave the company an “equal weight” rating in a report on Thursday, January 29th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $127.91 price target on shares of Southern Copper in a research report on Wednesday, January 14th. Finally, Itau BBA Securities downgraded Southern Copper from a “market perform” rating to an “underperform” rating and set a $124.94 price target for the company. in a research note on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and eight have issued a Sell rating to the company. Based on data from MarketBeat.com, Southern Copper presently has an average rating of “Reduce” and a consensus price target of $139.20.

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.