World Investment Advisors Buys Shares of 2,876 Southern Copper Corporation $SCCO

World Investment Advisors bought a new stake in Southern Copper Corporation (NYSE:SCCO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,876 shares of the basic materials company’s stock, valued at approximately $413,000.

Several other institutional investors have also recently bought and sold shares of SCCO. Royal Bank of Canada lifted its stake in Southern Copper by 42.1% in the 1st quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company’s stock valued at $4,194,000 after acquiring an additional 13,293 shares in the last quarter. Empowered Funds LLC increased its position in shares of Southern Copper by 17.9% during the 1st quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company’s stock worth $627,000 after purchasing an additional 1,020 shares during the last quarter. Focus Partners Wealth increased its position in shares of Southern Copper by 21.5% during the 1st quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company’s stock worth $556,000 after purchasing an additional 1,052 shares during the last quarter. First Trust Advisors LP increased its position in shares of Southern Copper by 37.4% during the 2nd quarter. First Trust Advisors LP now owns 73,379 shares of the basic materials company’s stock worth $7,424,000 after purchasing an additional 19,957 shares during the last quarter. Finally, Baird Financial Group Inc. increased its position in shares of Southern Copper by 17.7% during the 2nd quarter. Baird Financial Group Inc. now owns 4,864 shares of the basic materials company’s stock worth $492,000 after purchasing an additional 731 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen lowered Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. UBS Group lowered their price target on Southern Copper from $150.00 to $140.00 and set a “sell” rating on the stock in a research report on Friday, March 27th. The Goldman Sachs Group raised Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target on the stock in a research report on Friday, April 10th. JPMorgan Chase & Co. boosted their price target on Southern Copper from $117.50 to $127.00 and gave the stock an “underweight” rating in a research report on Friday, April 10th. Finally, Bank of America lowered Southern Copper from a “neutral” rating to an “underperform” rating and boosted their price target for the stock from $162.00 to $175.00 in a research report on Thursday, February 26th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat.com, Southern Copper has a consensus rating of “Reduce” and a consensus price target of $144.43.

Southern Copper Stock Performance

Shares of NYSE SCCO opened at $174.56 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. The stock’s fifty day moving average price is $178.16 and its two-hundred day moving average price is $169.04. Southern Copper Corporation has a one year low of $88.73 and a one year high of $223.88. The firm has a market cap of $142.98 billion, a price-to-earnings ratio of 28.85, a P/E/G ratio of 1.66 and a beta of 1.07.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.04. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%.The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $3.96 billion. On average, equities analysts forecast that Southern Copper Corporation will post 6.97 EPS for the current year.

Southern Copper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, May 13th. Southern Copper’s dividend payout ratio is currently 66.12%.

Insider Buying and Selling

In other news, Director Bonilla Luis Miguel Palomino sold 193 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.60, for a total transaction of $33,697.80. Following the completion of the sale, the director directly owned 1,707 shares in the company, valued at approximately $298,042.20. This represents a 10.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 300 shares of company stock valued at $52,848. 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.