Moneda S.A. Administradora General de Fondos Makes New $2.01 Million Investment in Southern Copper Corporation (NYSE:SCCO)

Key Points

• Moneda S.A. Administradora General de Fondos has invested approximately $2.01 million in Southern Copper Corporation (NYSE:SCCO), acquiring 21,515 shares, making it the fund's 12th largest position.
• Southern Copper reported $1.19 EPS for the last quarter, exceeding the consensus estimate of $1.05, and generated revenue of $3.12 billion, surpassing expectations.
• The company recently announced a dividend of $0.70 per share, providing a yield of 2.98%, with a payout ratio of 61.27%.

Moneda S.A. Administradora General de Fondos acquired a new position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 21,515 shares of the basic materials company's stock, valued at approximately $2,011,000. Southern Copper accounts for approximately 2.2% of Moneda S.A. Administradora General de Fondos' portfolio, making the stock its 12th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Neo Ivy Capital Management bought a new stake in Southern Copper in the 1st quarter valued at $2,099,000. Cetera Investment Advisers lifted its holdings in shares of Southern Copper by 7.3% during the first quarter. Cetera Investment Advisers now owns 35,592 shares of the basic materials company's stock worth $3,326,000 after buying an additional 2,412 shares in the last quarter. Cadence Wealth Management LLC lifted its holdings in shares of Southern Copper by 6.7% during the first quarter. Cadence Wealth Management LLC now owns 3,115 shares of the basic materials company's stock worth $291,000 after buying an additional 196 shares in the last quarter. Machina Capital S.A.S. boosted its position in shares of Southern Copper by 139.9% in the first quarter. Machina Capital S.A.S. now owns 13,593 shares of the basic materials company's stock valued at $1,270,000 after acquiring an additional 7,927 shares during the period. Finally, Beacon Investment Advisory Services Inc. grew its stake in shares of Southern Copper by 8.6% in the first quarter. Beacon Investment Advisory Services Inc. now owns 53,858 shares of the basic materials company's stock valued at $5,034,000 after acquiring an additional 4,258 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Southern Copper Stock Performance

NYSE SCCO opened at $99.60 on Friday. The firm's 50 day simple moving average is $96.97 and its 200 day simple moving average is $93.84. The firm has a market capitalization of $79.30 billion, a price-to-earnings ratio of 21.79, a P/E/G ratio of 2.59 and a beta of 1.02. The company has a current ratio of 3.71, a quick ratio of 3.22 and a debt-to-equity ratio of 0.70. Southern Copper Corporation has a 1 year low of $74.84 and a 1 year high of $121.44.

Southern Copper (NYSE:SCCO - Get Free Report) last released its earnings results on Friday, April 25th. The basic materials company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.14. Southern Copper had a return on equity of 39.39% and a net margin of 30.00%. The firm had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.05 billion. As a group, research analysts expect that Southern Copper Corporation will post 4.66 earnings per share for the current fiscal year.

Southern Copper Announces Dividend

The firm also recently disclosed a dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 5th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a dividend yield of 2.98%. Southern Copper's dividend payout ratio is currently 61.27%.

Wall Street Analysts Forecast Growth

SCCO has been the subject of several analyst reports. UBS Group cut shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price objective for the company. in a research note on Tuesday, July 1st. Itau BBA Securities raised shares of Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. Morgan Stanley reiterated an "underweight" rating and issued a $99.00 price target (up from $86.00) on shares of Southern Copper in a research note on Tuesday, July 15th. JPMorgan Chase & Co. lowered their price objective on Southern Copper from $83.50 to $79.00 and set a "neutral" rating on the stock in a research note on Thursday, July 3rd. Finally, Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to data from MarketBeat, Southern Copper currently has a consensus rating of "Hold" and a consensus target price of $91.00.

Southern Copper Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.

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