HighTower Advisors LLC Has $5.33 Million Stock Holdings in Southern Copper Corporation $SCCO

HighTower Advisors LLC increased its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 11.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,163 shares of the basic materials company’s stock after purchasing an additional 3,770 shares during the period. HighTower Advisors LLC’s holdings in Southern Copper were worth $5,332,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SCCO. Capital World Investors grew its stake in Southern Copper by 36.1% during the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock worth $781,268,000 after purchasing an additional 1,708,693 shares during the period. Man Group plc grew its stake in Southern Copper by 65.4% during the second quarter. Man Group plc now owns 467,119 shares of the basic materials company’s stock worth $47,258,000 after purchasing an additional 184,641 shares during the period. Schroder Investment Management Group grew its stake in Southern Copper by 54.6% during the third quarter. Schroder Investment Management Group now owns 505,284 shares of the basic materials company’s stock worth $61,321,000 after purchasing an additional 178,350 shares during the period. Bank of Montreal Can grew its stake in Southern Copper by 187.2% during the third quarter. Bank of Montreal Can now owns 219,038 shares of the basic materials company’s stock worth $26,582,000 after purchasing an additional 142,780 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in Southern Copper by 81.5% during the second quarter. BNP Paribas Financial Markets now owns 286,282 shares of the basic materials company’s stock worth $28,963,000 after purchasing an additional 128,512 shares during the period. Institutional investors and hedge funds own 7.94% of the company’s stock.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the transaction, the director owned 1,807 shares in the company, valued at $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 500 shares of company stock valued at $88,412 in the last 90 days. 0.07% of the stock is owned by company insiders.

Southern Copper Stock Down 1.1%

Shares of NYSE:SCCO opened at $187.74 on Thursday. The business’s 50 day simple moving average is $178.15 and its two-hundred day simple moving average is $170.74. The firm has a market cap of $153.78 billion, a P/E ratio of 31.03, a PEG ratio of 1.88 and a beta of 1.07. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. Southern Copper Corporation has a 52-week low of $88.73 and a 52-week high of $223.88.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.04. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $3.96 billion. Southern Copper had a return on equity of 45.63% and a net margin of 34.13%. As a group, research analysts forecast that Southern Copper Corporation will post 6.93 EPS for the current fiscal year.

Southern Copper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders 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 dividend yield of 2.1%. The ex-dividend date is Wednesday, May 13th. Southern Copper’s dividend payout ratio (DPR) is currently 66.12%.

Analyst Ratings Changes

Several research firms recently commented on SCCO. Wall Street Zen cut Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. raised their target price on Southern Copper from $117.50 to $127.00 and gave the stock an “underweight” rating in a research note on Friday, April 10th. Wells Fargo & Company set a $171.00 price target on Southern Copper and gave the stock an “equal weight” rating in a report on Friday, May 1st. Barclays assumed coverage on Southern Copper in a report on Thursday, May 21st. They issued an “underweight” rating and a $148.00 price target on the stock. Finally, Morgan Stanley increased their price target on Southern Copper from $155.00 to $160.00 and gave the stock an “underweight” rating in a report on Thursday, April 9th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have issued a Sell rating to the company’s stock. According to MarketBeat, Southern Copper presently has an average rating of “Reduce” and an average target price of $145.14.

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.