13,706 Shares in Southern Copper Corporation $SCCO Purchased by Horizon Investments LLC

Key Points

• Horizon Investments LLC opened a new position in Southern Copper (SCCO) in Q4, purchasing 13,706 shares valued at approximately $1.97 million.
• Analysts hold a consensus "Reduce" rating on the stock with an average price target of $144.25, reflecting mixed views (2 Buys, 4 Holds, 7 Sells).
• Southern Copper beat quarterly EPS estimates ($1.92 vs. $1.88), announced a $1.00 quarterly dividend (annualized $4.00, ~2.3% yield), and has a minor 1.01‑for‑1 stock split scheduled for May 13.

Horizon Investments LLC purchased a new position in Southern Copper Corporation (NYSE:SCCO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 13,706 shares of the basic materials company's stock, valued at approximately $1,966,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hopwood Financial Services Inc. acquired a new stake in Southern Copper during the third quarter valued at approximately $25,000. Caitlin John LLC acquired a new stake in Southern Copper during the third quarter valued at approximately $30,000. United Community Bank acquired a new stake in Southern Copper during the third quarter valued at approximately $30,000. Bayforest Capital Ltd acquired a new stake in Southern Copper during the fourth quarter valued at approximately $38,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in Southern Copper during the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 7.94% of the company's stock.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 193 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.60, for a total transaction of $33,697.80. Following the completion of the sale, the director owned 1,707 shares in the company, valued at approximately $298,042.20. This represents a 10.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Scotiabank reiterated an "underperform" rating and set a $133.00 price target (up from $125.00) on shares of Southern Copper in a research report on Thursday, April 23rd. Morgan Stanley increased their price target on Southern Copper from $155.00 to $160.00 and gave the stock an "underweight" rating in a research report on Thursday, April 9th. Bank of America cut Southern Copper from a "neutral" rating to an "underperform" rating and increased their price target for the stock from $162.00 to $175.00 in a research report on Thursday, February 26th. Wells Fargo & Company set a $171.00 price target on Southern Copper and gave the stock an "equal weight" rating in a research report on Friday. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Southern Copper in a research report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and seven have issued a Sell rating to the company's stock. According to data from MarketBeat, Southern Copper currently has a consensus rating of "Reduce" and an average price target of $144.25.

Southern Copper Stock Performance

Shares of SCCO stock opened at $171.06 on Wednesday. The business has a 50 day simple moving average of $183.54 and a 200 day simple moving average of $165.19. 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 firm has a market capitalization of $140.11 billion, a price-to-earnings ratio of 28.27, a price-to-earnings-growth ratio of 1.68 and a beta of 1.07. Southern Copper Corporation has a 12-month low of $86.59 and a 12-month high of $223.88.

Southern Copper shares are scheduled to split on Wednesday, May 13th. The 1.01-1 split was recently announced. The newly minted shares will be issued to shareholders after the market closes on Tuesday, May 12th.

Southern Copper (NYSE:SCCO - Get Free Report) 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 analysts' consensus estimates of $1.88 by $0.04. The firm had revenue of $4.25 billion during 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%. On average, equities research analysts anticipate that Southern Copper Corporation will post 6.77 EPS for the current year.

Southern Copper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, May 13th. Southern Copper's dividend payout ratio is 66.12%.

About Southern Copper

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.

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