Fund Advisors of America Inc FL Makes New $870,000 Investment in Southern Copper Corporation $SCCO

Key Points

• Fund Advisors of America initiated an approximately $870,000 position in Southern Copper by purchasing 4,991 shares during the second quarter. Institutional investors collectively own 7.94% of the company.
• Analyst sentiment remains cautious: Southern Copper has a consensus “Reduce” rating and a $146.84 price target, despite some firms maintaining positive or upgraded views.
• Southern Copper reported quarterly EPS of $1.99, exceeding estimates, while revenue increased 40.6% year over year. The company also raised its quarterly dividend to $1.10, equivalent to a 2.0% annual yield.

Fund Advisors of America Inc FL bought a new position in Southern Copper Corporation (NYSE:SCCO - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,991 shares of the basic materials company's stock, valued at approximately $870,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Intech Investment Management LLC boosted its holdings in Southern Copper by 0.8% in the 4th quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company's stock worth $865,000 after buying an additional 50 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in Southern Copper by 0.8% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,072 shares of the basic materials company's stock valued at $871,000 after buying an additional 51 shares in the last quarter. Steel Grove Capital Advisors LLC raised its holdings in Southern Copper by 1.8% during the 4th quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company's stock valued at $417,000 after acquiring an additional 52 shares during the period. Ensign Peak Advisors Inc raised its holdings in Southern Copper by 0.8% during the 4th quarter. Ensign Peak Advisors Inc now owns 6,379 shares of the basic materials company's stock valued at $915,000 after acquiring an additional 53 shares during the period. Finally, Venture Visionary Partners LLC raised its holdings in Southern Copper by 0.8% during the 4th quarter. Venture Visionary Partners LLC now owns 6,998 shares of the basic materials company's stock valued at $1,004,000 after acquiring an additional 53 shares during the period. Institutional investors own 7.94% of the company's stock.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 202 shares of Southern Copper stock in a transaction on Wednesday, August 5th. The stock was 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 approximately $339,066.65. This trade represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 509 shares of company stock worth $97,753 over the last three months. 0.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SCCO has been the subject of a number of analyst reports. Weiss Ratings raised Southern Copper from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, July 28th. Scotiabank reiterated an "underperform" rating and issued a $138.34 price target (up from $133.40) on shares of Southern Copper in a research report on Monday, June 15th. JPMorgan Chase & Co. boosted their price objective on Southern Copper from $125.49 to $129.94 and gave the company an "underweight" rating in a research note on Wednesday, June 17th. Citigroup reissued a "positive" rating on shares of Southern Copper in a report on Wednesday, July 15th. Finally, UBS Group restated a "sell" rating and issued a $158.10 target price (up from $143.28) on shares of Southern Copper in a research note on Tuesday, June 30th. 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 stock currently has a consensus rating of "Reduce" and a consensus price target of $146.84.

Southern Copper Stock Performance

Southern Copper stock opened at $216.30 on Friday. Southern Copper Corporation has a 1-year low of $92.94 and a 1-year high of $223.88. The company has a current ratio of 5.06, a quick ratio of 4.56 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $180.47 billion, a PE ratio of 31.62, a price-to-earnings-growth ratio of 1.70 and a beta of 1.11. The firm's 50 day simple moving average is $182.23 and its 200 day simple moving average is $183.20.

Southern Copper (NYSE:SCCO - Get Free Report) last announced 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. The firm had revenue of $4.29 billion during 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%. Southern Copper's revenue was up 40.6% on a year-over-year basis. As a group, analysts expect that Southern Copper Corporation will post 7.61 earnings per share 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. Investors of record on Tuesday, August 11th will be given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Southern Copper's previous quarterly dividend of $1.00. The ex-dividend date is Tuesday, August 11th. Southern Copper's dividend payout ratio (DPR) is 64.33%.

About Southern Copper

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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