Entropy Technologies LP Purchases Shares of 24,545 Southern Copper Corporation $SCCO

Entropy Technologies LP acquired a new position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,545 shares of the basic materials company's stock, valued at approximately $4,223,000.

Other hedge funds also recently modified their holdings of the company. Royal Bank of Canada grew its position in Southern Copper by 42.1% during the 1st quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company's stock worth $4,194,000 after acquiring an additional 13,293 shares during the last quarter. Empowered Funds LLC raised its position in Southern Copper by 17.9% in the 1st quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company's stock valued at $627,000 after purchasing an additional 1,020 shares during the last quarter. Focus Partners Wealth raised its position in Southern Copper by 21.5% in the 1st quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company's stock valued at $556,000 after purchasing an additional 1,052 shares during the last quarter. First Trust Advisors LP boosted its stake in Southern Copper by 37.4% in 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. grew its holdings 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 during the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Wall Street Analysts Forecast Growth

SCCO has been the subject of a number of research reports. Wells Fargo & Company raised their target price on Southern Copper from $171.00 to $172.00 and gave the company an "equal weight" rating in a research note on Thursday, July 9th. Zacks Research upgraded shares of Southern Copper from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 9th. Morgan Stanley raised their price objective on shares of Southern Copper from $146.00 to $158.00 and gave the company an "underweight" rating in a research report on Wednesday, July 8th. Barclays set a $166.00 target price on shares of Southern Copper and gave the stock an "underweight" rating in a research note on Thursday. Finally, Weiss Ratings lowered shares of Southern Copper from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and seven have issued a Sell rating to the company's stock. According to MarketBeat, Southern Copper presently has a consensus rating of "Reduce" and a consensus target price of $148.60.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the transaction, the director directly owned 1,807 shares in the company, valued at $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 404 shares of company stock valued at $74,108 in the last quarter. Corporate insiders own 0.07% of the company's stock.

Southern Copper Price Performance

Shares of SCCO stock opened at $179.69 on Friday. The firm has a market cap of $148.44 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 1.53 and a beta of 1.11. Southern Copper Corporation has a 12 month low of $88.73 and a 12 month high of $223.88. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average price of $180.76 and a 200 day moving average price of $183.39.

Shares of Southern Copper are set to split on the morning of Tuesday, August 11th. The 1.012-1 split was recently announced. The newly minted shares will be distributed to shareholders after the market closes on Monday, August 10th.

Southern Copper (NYSE:SCCO - Get Free Report) last released its earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.95 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 50.74%. Southern Copper's revenue was up 40.6% on a year-over-year basis. Research analysts expect that Southern Copper Corporation will post 7.63 EPS for the current year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.4%. This is a positive change from Southern Copper's previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Tuesday, August 11th. Southern Copper's payout ratio is presently 58.48%.

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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