9,476 Shares in Southern Copper Corporation $SCCO Acquired by Commerzbank Aktiengesellschaft FI

Key Points

• Commerzbank Aktiengesellschaft FI acquired 9,476 Southern Copper shares worth approximately $907,000 in the second quarter. Other institutions also initiated positions, bringing institutional ownership to 7.94%.
• 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 increased its quarterly dividend to $1.10 per share, equivalent to a 2.3% yield.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a consensus price target of $146.84, well below its recent price of $187.81.

Commerzbank Aktiengesellschaft FI acquired a new stake in Southern Copper Corporation (NYSE:SCCO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,476 shares of the basic materials company's stock, valued at approximately $907,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCCO. Trust Co. of Vermont bought a new position in Southern Copper in the second quarter worth about $193,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Southern Copper in the second quarter worth $19,864,000. Ashoka WhiteOak Capital Pte Ltd bought a new stake in Southern Copper during the 2nd quarter valued at about $5,112,000. OneDigital Investment Advisors LLC bought a new stake in shares of Southern Copper during the second quarter valued at approximately $390,000. Finally, Bell Investment Advisors Inc bought a new stake in shares of Southern Copper in the 2nd quarter worth $26,000. Institutional investors own 7.94% of the company's stock.

Southern Copper Trading Down 2.2%

NYSE:SCCO opened at $187.81 on Wednesday. The firm has a market cap of $156.70 billion, a P/E ratio of 27.46, a P/E/G ratio of 1.58 and a beta of 1.11. Southern Copper Corporation has a one year low of $92.57 and a one year high of $223.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.56 and a current ratio of 5.06. The firm has a 50-day simple moving average of $180.68 and a 200-day simple moving average of $182.94.

Southern Copper (NYSE:SCCO - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $4.37 billion. The firm's revenue was up 40.6% on a year-over-year basis. Equities analysts anticipate that Southern Copper Corporation will post 7.61 EPS for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, August 11th. This is a positive change from Southern Copper's previous quarterly dividend of $1.00. Southern Copper's dividend payout ratio (DPR) is presently 64.33%.

Insider Buying and Selling

In other news, Director Bonilla Luis Miguel Palomino sold 202 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total value of $39,751.28. Following the sale, the director owned 1,723 shares in the company, valued at $339,066.65. This represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 711 shares of company stock valued at $133,247 over the last 90 days. 0.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SCCO shares. Morgan Stanley boosted their target price on shares of Southern Copper from $144.27 to $156.13 and gave the company an "underweight" rating in a research note on Wednesday, July 8th. Barclays set a $164.03 target price on shares of Southern Copper and gave the stock an "underweight" rating in a research note on Thursday, July 23rd. Wall Street Zen downgraded Southern Copper from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Zacks Research lowered shares of Southern Copper from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 7th. Finally, Citigroup restated a "positive" rating on shares of Southern Copper in a report on Wednesday, July 15th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $146.84.

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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