Eurizon Capital SGR S.p.A. Invests $2.12 Million in Southern Copper Corporation $SCCO

Eurizon Capital SGR S.p.A. purchased a new position in shares of Southern Copper Corporation (NYSE:SCCO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,784 shares of the basic materials company’s stock, valued at approximately $2,121,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hopwood Financial Services Inc. purchased a new stake in shares of Southern Copper in the 3rd quarter worth about $25,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Southern Copper in the 4th quarter worth about $29,000. United Community Bank purchased a new stake in shares of Southern Copper in the 3rd quarter worth about $30,000. Caitlin John LLC purchased a new position in Southern Copper in the 3rd quarter valued at about $30,000. Finally, Godfrey Financial Associates Inc. purchased a new position in Southern Copper in the 4th quarter valued at about $30,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00. Following the completion of the transaction, the director owned 1,807 shares of the company’s stock, valued at $321,320.74. This represents a 9.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 600 shares of company stock worth $108,412. Corporate insiders own 0.07% of the company’s stock.

Southern Copper Trading Up 3.5%

NYSE SCCO opened at $201.35 on Wednesday. Southern Copper Corporation has a 12 month low of $88.73 and a 12 month high of $223.88. The company has a 50-day moving average of $179.72 and a 200-day moving average of $171.94. 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 company has a market cap of $164.92 billion, a P/E ratio of 33.28, a P/E/G ratio of 1.92 and a beta of 1.09.

Southern Copper (NYSE:SCCO) last posted 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 net margin of 34.13% and a return on equity of 45.63%. The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $3.96 billion. As a group, equities analysts predict that Southern Copper Corporation will post 6.93 earnings per share for the current year.

Southern Copper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. Southern Copper’s dividend payout ratio is currently 66.12%.

Wall Street Analyst Weigh In

SCCO has been the topic of a number of recent research reports. UBS Group upped their target price on shares of Southern Copper from $140.00 to $145.00 and gave the company a “sell” rating in a report on Thursday, May 21st. Wells Fargo & Company set a $171.00 target price on shares of Southern Copper and gave the company an “equal weight” rating in a report on Friday, May 1st. Morgan Stanley upped their target price on shares of Southern Copper from $155.00 to $160.00 and gave the company an “underweight” rating in a report on Thursday, April 9th. Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Scotiabank restated an “underperform” rating and issued a $135.00 target price (up from $133.00) on shares of Southern Copper in a report on Friday, May 15th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have given a Sell rating to the company’s stock. According to MarketBeat, the company currently 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.