Bamco Inc. NY Buys Shares of 5,203 Southern Copper Corporation $SCCO

Bamco Inc. NY bought a new stake in Southern Copper Corporation (NYSE:SCCO - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,203 shares of the basic materials company's stock, valued at approximately $907,000.

Several other institutional investors also recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Southern Copper during the 2nd quarter valued at $1,729,500,000. Bank of New York Mellon Corp acquired a new stake in shares of Southern Copper during the second quarter worth $696,621,000. State Street Corp increased its holdings in Southern Copper by 2.4% in the fourth quarter. State Street Corp now owns 2,862,244 shares of the basic materials company's stock valued at $410,646,000 after purchasing an additional 66,268 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Southern Copper by 0.3% in the fourth quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company's stock valued at $363,873,000 after buying an additional 7,194 shares during the period. Finally, Bank of America Corp DE bought a new position in Southern Copper during the second quarter worth about $318,448,000. Institutional investors and hedge funds own 7.94% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group reiterated a "sell" rating and issued a $158.10 price target (up from $143.28) on shares of Southern Copper in a research report on Tuesday, June 30th. Wall Street Zen lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Scotiabank reissued an "underperform" rating and set a $138.34 price target (up from $133.40) on shares of Southern Copper in a research report on Monday, June 15th. Citigroup reissued a "positive" rating on shares of Southern Copper in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Southern Copper from $125.49 to $129.94 and gave the company an "underweight" rating in a research report on Wednesday, June 17th. Three equities research 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $146.84.

Southern Copper Stock Performance

Shares of SCCO stock opened at $216.79 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.56 and a current ratio of 5.06. Southern Copper Corporation has a 52 week low of $92.94 and a 52 week high of $223.88. The company's 50 day moving average price is $184.25 and its two-hundred day moving average price is $183.72. The company has a market capitalization of $180.87 billion, a P/E ratio of 31.69, a price-to-earnings-growth ratio of 1.83 and a beta of 1.11.

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 (EPS) for the quarter, topping 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 company had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.37 billion. The company's quarterly revenue was up 40.6% compared to the same quarter last year. On average, analysts expect that Southern Copper Corporation will post 7.61 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were issued a dividend of $1.10 per share. 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 dividend on an annualized basis and a yield of 2.0%. Southern Copper's dividend payout ratio is currently 64.33%.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 202 shares of the business'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 directly owned 1,723 shares in the company, valued at $339,066.65. The trade was a 10.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 509 shares of company stock valued at $97,753 in the last 90 days. Insiders own 0.07% of the company's stock.

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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