GSA Capital Partners LLP Makes New $934,000 Investment in Southern Copper Corporation $SCCO

Key Points

• GSA Capital Partners purchased 5,357 Southern Copper shares in the second quarter, valued at approximately $934,000. Institutional investors and hedge funds collectively own 7.94% of the company.
• Southern Copper reported quarterly EPS of $1.99, exceeding estimates of $1.93, while revenue rose 40.6% year over year to $4.29 billion. The company also increased its quarterly dividend to $1.10, representing a 2.3% yield.
• Despite generally strong financial performance, analyst sentiment remains cautious: the stock has an average “Reduce” rating and a consensus price target of $146.84, below its recent trading price.

GSA Capital Partners LLP bought a new stake in Southern Copper Corporation (NYSE:SCCO - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,357 shares of the basic materials company's stock, valued at approximately $934,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new stake in Southern Copper in the 4th quarter worth about $97,645,000. Capital Research Global Investors bought a new stake in Southern Copper in the 4th quarter valued at about $81,039,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Southern Copper during the 1st quarter worth approximately $85,342,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Southern Copper during the 4th quarter worth approximately $46,560,000. Finally, USS Investment Management Ltd increased its holdings in shares of Southern Copper by 904.8% during the fourth quarter. USS Investment Management Ltd now owns 301,655 shares of the basic materials company's stock worth $43,272,000 after purchasing an additional 271,634 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 202 shares of the business's 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 transaction, the director owned 1,723 shares of the company's stock, valued at approximately $339,066.65. The trade was a 10.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 711 shares of company stock worth $133,247. 0.07% of the stock is currently owned by insiders.

Southern Copper Stock Performance

Shares of Southern Copper stock opened at $187.81 on Wednesday. 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 company has a market cap of $156.70 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 1.58 and a beta of 1.11. The company has a 50 day moving average of $180.68 and a 200-day moving average of $182.94. Southern Copper Corporation has a 1-year low of $92.57 and a 1-year high of $223.88.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $4.37 billion. Southern Copper's revenue for the quarter was up 40.6% compared to the same quarter last year. As a group, equities research analysts forecast that Southern Copper Corporation will post 7.61 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend 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 is 64.33%.

Wall Street Analyst Weigh In

SCCO has been the subject of a number of analyst reports. CICC Research downgraded shares of Southern Copper to a "market perform" rating in a research report on Sunday, July 26th. JPMorgan Chase & Co. increased their price target on Southern Copper from $125.49 to $129.94 and gave the stock an "underweight" rating in a research report on Wednesday, June 17th. Zacks Research cut Southern Copper from a "strong-buy" rating to a "hold" rating in a report on Friday, August 7th. Citigroup reiterated a "positive" rating on shares of Southern Copper in a research report on Wednesday, July 15th. Finally, Morgan Stanley increased their target price on Southern Copper from $144.27 to $156.13 and gave the stock an "underweight" rating in a report on Wednesday, July 8th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $146.84.

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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