BNP Paribas Financial Markets Grows Stock Holdings in Southern Copper Corporation $SCCO

Key Points

• BNP Paribas Financial Markets increased its Southern Copper stake by 53.3% in the fourth quarter, ending with 348,452 shares valued at about $50.0 million. Several other institutional investors also boosted their positions, and hedge funds now own 7.94% of the stock.
• Wall Street sentiment on SCCO remains cautious despite mixed analyst updates. The stock has an average rating of “Reduce” with an average price target of $145.14, even though the shares were trading at $201.35 and up 3.5% in recent session data.
• Southern Copper reported strong quarterly results, beating earnings and revenue estimates with EPS of $1.92 on $4.25 billion in revenue. The company also paid a quarterly dividend of $1.00 per share, implying a 2.0% annual yield.

BNP Paribas Financial Markets grew its holdings in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 53.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 348,452 shares of the basic materials company's stock after buying an additional 121,111 shares during the quarter. BNP Paribas Financial Markets' holdings in Southern Copper were worth $49,992,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SCCO. Royal Bank of Canada lifted its position in shares of Southern Copper by 42.1% during the first quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company's stock worth $4,194,000 after purchasing an additional 13,293 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Southern Copper by 17.9% during the first quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company's stock worth $627,000 after purchasing an additional 1,020 shares in the last quarter. Focus Partners Wealth lifted its position in shares of Southern Copper by 21.5% during the first quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company's stock worth $556,000 after purchasing an additional 1,052 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Southern Copper by 37.4% during the second quarter. First Trust Advisors LP now owns 73,379 shares of the basic materials company's stock worth $7,424,000 after purchasing an additional 19,957 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its position in shares of Southern Copper by 17.7% during the second quarter. Baird Financial Group Inc. now owns 4,864 shares of the basic materials company's stock worth $492,000 after purchasing an additional 731 shares in the last quarter. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SCCO has been the topic of several recent analyst reports. Barclays initiated coverage on shares of Southern Copper in a report on Thursday, May 21st. They issued an "underweight" rating and a $148.00 price target on the stock. Wall Street Zen cut shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Wells Fargo & Company set a $171.00 price target on shares of Southern Copper and gave the company an "equal weight" rating in a report on Friday, May 1st. The Goldman Sachs Group raised shares of Southern Copper from a "sell" rating to a "neutral" rating and set a $178.00 price target on the stock in a report on Friday, April 10th. Finally, Morgan Stanley upped their price target on shares of Southern Copper from $155.00 to $160.00 and gave the company an "underweight" rating in a report on Thursday, April 9th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $145.14.

Southern Copper Stock Up 3.5%

Shares of NYSE:SCCO opened at $201.35 on Wednesday. The stock has a market capitalization of $164.92 billion, a price-to-earnings ratio of 33.28, a price-to-earnings-growth ratio of 1.92 and a beta of 1.09. Southern Copper Corporation has a 1-year low of $88.73 and a 1-year high of $223.88. The company's fifty day moving average is $179.72 and its two-hundred day moving average is $171.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38.

Southern Copper (NYSE:SCCO - Get Free Report) last issued its earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates of $1.88 by $0.04. The company had revenue of $4.25 billion for the quarter, compared to analysts' expectations of $3.96 billion. Southern Copper had a net margin of 34.13% and a return on equity of 45.63%. Equities analysts anticipate that Southern Copper Corporation will post 6.93 EPS for the current year.

Southern Copper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were given a dividend of $1.00 per share. The ex-dividend date was Wednesday, May 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.0%. Southern Copper's dividend payout ratio is currently 66.12%.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00. Following the completion of the transaction, the director owned 1,807 shares in the company, valued at approximately $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 600 shares of company stock worth $108,412 in the last three months. 0.07% of the stock is currently owned by corporate insiders.

Southern Copper Company 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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