Quantinno Capital Management LP Purchases 6,789 Shares of Southern Copper Corporation $SCCO

Key Points

• Quantinno Capital Management increased its Southern Copper stake by 15.3% in the first quarter, adding 6,789 shares and bringing its holdings to 51,044 shares worth approximately $8.8 million.
• Southern Copper reported quarterly EPS of $2.01, beating estimates, while revenue rose 40.6% year over year to $4.29 billion. The company also raised its quarterly dividend to $1.10 per share and announced a 1.012-for-1 stock split.
• Analyst sentiment remains cautious: Southern Copper has a consensus “Reduce” rating and a $148.60 price target, well below its reported share price of $195.56.

Quantinno Capital Management LP grew its position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 15.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,044 shares of the basic materials company's stock after buying an additional 6,789 shares during the period. Quantinno Capital Management LP's holdings in Southern Copper were worth $8,783,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. SHP Wealth Management purchased a new stake in shares of Southern Copper during the fourth quarter worth $25,000. Lloyd Advisory Services LLC. purchased a new stake in Southern Copper during the 4th quarter worth about $29,000. Virtus Advisers LLC bought a new position in Southern Copper in the 4th quarter worth about $29,000. Godfrey Financial Associates Inc. purchased a new position in Southern Copper during the 4th quarter valued at about $30,000. Finally, IFP Advisors Inc increased its position in shares of Southern Copper by 233.3% during the fourth quarter. IFP Advisors Inc now owns 230 shares of the basic materials company's stock valued at $33,000 after buying an additional 161 shares during the period. Hedge funds and other institutional investors own 7.94% of the company's stock.

Southern Copper Price Performance

Shares of Southern Copper stock opened at $195.56 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.06 and a quick ratio of 3.89. Southern Copper Corporation has a one year low of $92.55 and a one year high of $223.88. The business's 50 day simple moving average is $181.54 and its two-hundred day simple moving average is $184.40. The stock has a market capitalization of $161.55 billion, a P/E ratio of 28.59, a price-to-earnings-growth ratio of 1.60 and a beta of 1.11.

Southern Copper's stock is scheduled to split before the market opens on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly created shares will be payable to shareholders after the market closes on Monday, August 10th.

Southern Copper (NYSE:SCCO - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.06. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The firm had revenue of $4.29 billion for the quarter, compared to analysts' expectations of $4.37 billion. The business's quarterly revenue was up 40.6% compared to the same quarter last year. Analysts forecast that Southern Copper Corporation will post 7.63 EPS for the current year.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be issued a dividend of $1.10 per share. This is an increase from Southern Copper's previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, August 11th. Southern Copper's dividend payout ratio (DPR) is currently 58.48%.

Analyst Upgrades and Downgrades

SCCO has been the subject of a number of analyst reports. Citigroup restated a "positive" rating on shares of Southern Copper in a research report on Wednesday, July 15th. The Goldman Sachs Group upgraded shares of Southern Copper from a "sell" rating to a "neutral" rating and set a $178.00 price target for the company in a research report on Friday, April 10th. CICC Research downgraded Southern Copper to a "market perform" rating in a research report on Sunday, July 26th. Wells Fargo & Company lifted their price objective 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. Finally, UBS Group restated a "sell" rating and issued a $160.00 target price (up from $145.00) on shares of Southern Copper in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $148.60.

Insider Activity

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $177.82, for a total transaction of $35,564.00. Following the transaction, the director owned 1,807 shares in the company, valued at $321,320.74. The trade was a 9.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 504 shares of company stock valued at $92,008 over the last quarter. 0.07% of the stock is owned by company insiders.

Southern Copper 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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