CenterBook Partners LP Acquires Shares of 10,208 Southern Copper Corporation $SCCO

CenterBook Partners LP bought a new stake in shares of Southern Copper Corporation (NYSE:SCCO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,208 shares of the basic materials company’s stock, valued at approximately $1,465,000.

Other hedge funds have also made changes to their positions in the company. Lloyd Advisory Services LLC. acquired a new position in shares of Southern Copper during the fourth quarter valued at approximately $29,000. Caitlin John LLC acquired a new position in shares of Southern Copper during the third quarter valued at approximately $30,000. Godfrey Financial Associates Inc. acquired a new position in shares of Southern Copper during the fourth quarter valued at approximately $30,000. IFP Advisors Inc raised its holdings in shares of Southern Copper by 233.3% during the fourth quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 161 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Southern Copper during the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Price Performance

NYSE:SCCO opened at $167.59 on Thursday. Southern Copper Corporation has a one year low of $88.73 and a one year high of $223.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. The stock has a market cap of $137.27 billion, a PE ratio of 27.70, a P/E/G ratio of 1.65 and a beta of 1.09. The stock has a 50 day moving average price of $182.95 and a 200 day moving average price of $174.69.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.96 billion. Equities research analysts expect that Southern Copper Corporation will post 7.25 EPS for the current fiscal year.

Southern Copper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders 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 annualized dividend and a yield of 2.4%. Southern Copper’s dividend payout ratio (DPR) is 66.12%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SCCO. Wall Street Zen cut Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Barclays began coverage on Southern Copper in a report on Thursday, May 21st. They set an “underweight” rating and a $148.00 target price for the company. Wells Fargo & Company set a $171.00 target price on Southern Copper and gave the company an “equal weight” rating in a report on Friday, May 1st. The Goldman Sachs Group raised Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 target price for the company in a report on Friday, April 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Southern Copper in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Southern Copper presently has a consensus rating of “Reduce” and an average price target of $145.14.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the completion of the sale, the director owned 1,807 shares of the company’s stock, valued at $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 597 shares of company stock worth $107,806 over the last ninety days. 0.07% of the stock is owned by company insiders.

Southern Copper 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.