86,509 Shares in Southern Copper Corporation $SCCO Acquired by Nykredit A S

Key Points

• Nykredit A/S acquired 86,509 Southern Copper shares during the second quarter, valued at approximately $15.1 million. Institutional investors currently own 7.94% of the company.
• Analyst sentiment remains cautious, with three Buy, five Hold and seven Sell ratings, resulting in an average “Reduce” rating and a $146.84 price target.
• Southern Copper reported quarterly EPS of $1.99, exceeding estimates, while revenue rose 40.6% year over year to $4.29 billion. The company also increased its quarterly dividend to $1.10 per share, implying a 2.2% yield.

Nykredit A S acquired a new position in Southern Copper Corporation (NYSE:SCCO - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 86,509 shares of the basic materials company's stock, valued at approximately $15,075,000.

Several other hedge funds have also bought and sold shares of the stock. SHP Wealth Management bought a new stake in shares of Southern Copper during the 4th quarter worth $25,000. Bell Investment Advisors Inc bought a new position in shares of Southern Copper during the 2nd quarter valued at about $26,000. Rakuten Securities Inc. purchased a new position in shares of Southern Copper during the 2nd quarter valued at about $28,000. Lloyd Advisory Services LLC. purchased a new position in shares of Southern Copper during the 4th quarter valued at about $29,000. Finally, Virtus Advisers LLC bought a new stake in shares of Southern Copper in the 4th quarter worth approximately $29,000. 7.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Southern Copper

In other news, Director Luis Palomino Bonilla sold 202 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $196.79, for a total transaction of $39,751.28. Following the completion of the sale, the director owned 1,723 shares of the company's stock, valued at $339,066.65. The trade was a 10.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 404 shares of company stock worth $77,077. Company insiders own 0.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. UBS Group restated 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. Morgan Stanley increased their price target on shares of Southern Copper from $144.27 to $156.13 and gave the stock an "underweight" rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. boosted their target price on shares of Southern Copper from $125.49 to $129.94 and gave the company an "underweight" rating in a report on Wednesday, June 17th. Citigroup reissued a "positive" rating on shares of Southern Copper in a research report on Wednesday, July 15th. Finally, CICC Research lowered shares of Southern Copper to a "market perform" rating in a research note on Sunday, July 26th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $146.84.

Southern Copper Trading Down 0.7%

Southern Copper stock opened at $198.17 on Friday. The business's fifty day moving average is $187.43 and its 200 day moving average is $184.04. Southern Copper Corporation has a one year low of $99.87 and a one year high of $223.88. The stock has a market capitalization of $165.34 billion, a PE ratio of 28.97, a price-to-earnings-growth ratio of 1.71 and a beta of 1.14. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.06 and a quick ratio of 4.56.

Southern Copper (NYSE:SCCO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share for the quarter, beating analysts' consensus estimates of $1.93 by $0.06. The company had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The company's revenue for the quarter was up 40.6% on a year-over-year basis. On average, sell-side analysts predict that Southern Copper Corporation will post 7.59 EPS for the current year.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were paid a $1.10 dividend. This is a boost from Southern Copper's previous quarterly dividend of $1.00. The ex-dividend date was Tuesday, August 11th. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. Southern Copper's dividend payout ratio (DPR) is currently 64.33%.

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.

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