Bollard Group LLC Acquires 105,763 Shares of Southern Copper Corporation $SCCO

Bollard Group LLC raised its stake in Southern Copper Corporation (NYSE:SCCO) by 14.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 861,950 shares of the basic materials company’s stock after buying an additional 105,763 shares during the quarter. Southern Copper comprises approximately 4.4% of Bollard Group LLC’s investment portfolio, making the stock its 5th biggest holding. Bollard Group LLC’s holdings in Southern Copper were worth $148,307,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. GC Wealth Management RIA LLC acquired a new stake in Southern Copper in the 1st quarter valued at about $706,000. Public Employees Retirement System of Ohio increased its position in Southern Copper by 305.1% during the first quarter. Public Employees Retirement System of Ohio now owns 157,247 shares of the basic materials company’s stock worth $27,056,000 after buying an additional 118,433 shares during the last quarter. Modern Wealth Management LLC raised its stake in Southern Copper by 16.9% in the first quarter. Modern Wealth Management LLC now owns 3,145 shares of the basic materials company’s stock valued at $560,000 after buying an additional 455 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Southern Copper by 7.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 347,200 shares of the basic materials company’s stock valued at $59,739,000 after buying an additional 22,670 shares during the last quarter. Finally, Bank of Nova Scotia acquired a new stake in shares of Southern Copper in the first quarter valued at approximately $1,244,000. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Performance

NYSE SCCO opened at $179.69 on Friday. The firm’s fifty day moving average price is $180.76 and its two-hundred day moving average price is $183.39. The stock has a market cap of $148.44 billion, a PE ratio of 26.27, a PEG ratio of 1.56 and a beta of 1.11. 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 fifty-two week low of $88.73 and a fifty-two week high of $223.88.

Shares of Southern Copper are going to split before the market opens on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly created shares will be distributed to shareholders after the closing bell on Monday, August 10th.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The business had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper had a return on equity of 50.74% and a net margin of 35.87%.Southern Copper’s revenue was up 40.6% compared to the same quarter last year. On average, equities analysts expect that Southern Copper Corporation will post 7.68 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be issued a $1.10 dividend. The ex-dividend date is Tuesday, August 11th. This is a positive change from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a yield of 2.4%. Southern Copper’s dividend payout ratio is 64.33%.

Analyst Ratings Changes

A number of equities analysts have commented on SCCO shares. Weiss Ratings cut shares of Southern Copper from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, July 8th. Wells Fargo & Company lifted their target price on shares of Southern Copper from $171.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. The Goldman Sachs Group upgraded shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price target on the stock in a research note on Friday, April 10th. Barclays set a $166.00 price target on shares of Southern Copper and gave the company an “underweight” rating in a report on Thursday. Finally, UBS Group restated a “sell” rating and set a $160.00 price objective (up from $145.00) on shares of Southern Copper in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat.com, Southern Copper has an average rating of “Reduce” and a consensus price target of $148.60.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’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 transaction of $35,564.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 404 shares of company stock valued at $74,108 over the last ninety days. Insiders own 0.07% of the company’s stock.

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.