Axiom Investors LLC DE Grows Position in Southern Copper Corporation $SCCO

Axiom Investors LLC DE lifted its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 136.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 379,991 shares of the basic materials company’s stock after purchasing an additional 219,316 shares during the quarter. Axiom Investors LLC DE’s holdings in Southern Copper were worth $54,517,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Royal Bank of Canada boosted its holdings in Southern Copper by 42.1% during 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 during the period. Empowered Funds LLC boosted its holdings in Southern Copper by 17.9% during the 1st quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company’s stock valued at $627,000 after acquiring an additional 1,020 shares during the period. Focus Partners Wealth boosted its holdings in Southern Copper by 21.5% during the 1st quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company’s stock valued at $556,000 after acquiring an additional 1,052 shares during the period. First Trust Advisors LP boosted its holdings in 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 valued at $7,424,000 after acquiring an additional 19,957 shares during the period. Finally, Baird Financial Group Inc. boosted its stake in shares of Southern Copper by 17.7% in the 2nd quarter. Baird Financial Group Inc. now owns 4,864 shares of the basic materials company’s stock valued at $492,000 after buying an additional 731 shares during the period. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the transaction, the director directly owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. This represents a 9.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 604 shares of company stock valued at $109,136. 0.07% of the stock is owned by corporate insiders.

Southern Copper Stock Performance

Shares of Southern Copper stock opened at $174.97 on Wednesday. The stock has a market cap of $143.32 billion, a PE ratio of 28.92, a price-to-earnings-growth ratio of 1.61 and a beta of 1.09. The business has a fifty day simple moving average of $182.77 and a 200-day simple moving average of $174.34. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. Southern Copper Corporation has a 12 month low of $88.73 and a 12 month high of $223.88.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share (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 for the quarter, compared to analyst estimates of $3.96 billion. On average, sell-side analysts anticipate that Southern Copper Corporation will post 7.25 EPS for the current fiscal year.

Southern Copper Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SCCO shares. Morgan Stanley lifted their price objective on Southern Copper from $155.00 to $160.00 and gave the company an “underweight” rating in a research note on Thursday, April 9th. Bank of America lowered Southern Copper from a “neutral” rating to an “underperform” rating and raised their target price for the stock from $162.00 to $175.00 in a research report on Thursday, February 26th. UBS Group raised their target price on Southern Copper from $140.00 to $145.00 and gave the stock a “sell” rating in a research report on Thursday, May 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Southern Copper in a research report on Friday, March 27th. Finally, The Goldman Sachs Group raised Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 target price on the stock in a research report on Friday, April 10th. Two investment 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. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $145.14.

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.