492,196 Shares in Southern Copper Corporation $SCCO Bought by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 492,196 Southern Copper shares during the second quarter, worth approximately $85.8 million and representing about 0.06% of the company. Institutional investors collectively own 7.94% of SCCO.
• Southern Copper reported quarterly EPS of $1.99, beating estimates of $1.93, while revenue rose 40.6% year over year to $4.29 billion. The company also raised its quarterly dividend to $1.10 per share, implying a 2.2% yield.
• Despite SCCO trading near $199.45, analysts remain cautious, with a consensus “Reduce” rating and an average price target of $146.84; three analysts rate it Buy, five Hold, and seven Sell.

Deutsche Bank AG acquired a new stake in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 492,196 shares of the basic materials company's stock, valued at approximately $85,770,000. Deutsche Bank AG owned approximately 0.06% of Southern Copper at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. SHP Wealth Management purchased a new position in Southern Copper during the fourth quarter worth about $25,000. Bell Investment Advisors Inc purchased a new stake in Southern Copper in the 2nd quarter valued at about $26,000. Lloyd Advisory Services LLC. bought a new position in shares of Southern Copper during the 4th quarter worth approximately $29,000. Virtus Advisers LLC purchased a new position in shares of Southern Copper in the 4th quarter worth approximately $29,000. Finally, Godfrey Financial Associates Inc. purchased a new position in shares of Southern Copper in the 4th quarter worth approximately $30,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Trading Up 2.5%

Shares of SCCO stock opened at $199.45 on Friday. The business has a 50-day moving average price of $181.66 and a two-hundred day moving average price of $182.97. The firm has a market cap of $166.41 billion, a P/E ratio of 29.16, a price-to-earnings-growth ratio of 1.67 and a beta of 1.11. Southern Copper Corporation has a 12-month low of $92.57 and a 12-month high of $223.88. The company has a quick ratio of 4.56, a current ratio of 5.06 and a debt-to-equity ratio of 0.63.

Southern Copper (NYSE:SCCO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $1.93 by $0.06. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The business had revenue of $4.29 billion for the quarter, compared to analysts' expectations of $4.37 billion. The firm's revenue was up 40.6% compared to the same quarter last year. Equities analysts anticipate that Southern Copper Corporation will post 7.61 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be issued a dividend of $1.10 per share. The ex-dividend date is Tuesday, August 11th. This represents a $4.40 annualized dividend and a yield of 2.2%. This is a boost from Southern Copper's previous quarterly dividend of $1.00. Southern Copper's dividend payout ratio (DPR) is currently 64.33%.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 202 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $196.79, for a total value of $39,751.28. Following the transaction, the director owned 1,723 shares in the company, valued at approximately $339,066.65. This trade represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 509 shares of company stock worth $97,753 over the last ninety days. Corporate insiders own 0.07% of the company's stock.

Wall Street Analysts Forecast Growth

SCCO has been the subject of a number of research analyst reports. UBS Group reaffirmed a "sell" rating and set a $158.10 price target (up from $143.28) on shares of Southern Copper in a research report on Tuesday, June 30th. CICC Research cut Southern Copper to a "market perform" rating in a research report on Sunday, July 26th. JPMorgan Chase & Co. upped their price objective on Southern Copper from $125.49 to $129.94 and gave the company an "underweight" rating in a research note on Wednesday, June 17th. Scotiabank reaffirmed an "underperform" rating and set a $138.34 target price (up from $133.40) on shares of Southern Copper in a research report on Monday, June 15th. Finally, Weiss Ratings upgraded Southern Copper from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $146.84.

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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