RFG Advisory LLC Invests $1.15 Million in Southern Copper Corporation $SCCO

Key Points

• RFG Advisory LLC opened a new position in Southern Copper during the fourth quarter, buying 7,991 shares worth about $1.15 million.
• Southern Copper reported better-than-expected quarterly results, with earnings of $1.92 per share and revenue of $4.25 billion, both above analyst estimates.
• The company announced a 1.01-for-1 stock split and a quarterly dividend of $1.00 per share, equal to a $4.00 annualized payout and a 2.2% yield.

RFG Advisory LLC acquired a new position in Southern Copper Corporation (NYSE:SCCO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,991 shares of the basic materials company's stock, valued at approximately $1,147,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SCCO. Hopwood Financial Services Inc. purchased a new stake in Southern Copper during the third quarter worth $25,000. Caitlin John LLC purchased a new stake in Southern Copper during the third quarter worth $30,000. United Community Bank purchased a new stake in Southern Copper during the third quarter worth $30,000. Bayforest Capital Ltd purchased a new stake in Southern Copper during the fourth quarter worth $38,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in Southern Copper during the fourth quarter worth $46,000. Institutional investors and hedge funds own 7.94% of the company's stock.

Southern Copper Stock Performance

SCCO opened at $185.51 on Friday. 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 company has a market cap of $151.95 billion, a price-to-earnings ratio of 30.66, a PEG ratio of 1.76 and a beta of 1.07. Southern Copper Corporation has a 52-week low of $88.13 and a 52-week high of $223.88. The firm's fifty day simple moving average is $182.45 and its two-hundred day simple moving average is $165.92.

Southern Copper shares are scheduled to split on the morning of Wednesday, May 13th. The 1.01-1 split was recently announced. The newly created shares will be distributed to shareholders after the closing bell on Tuesday, May 12th.

Southern Copper (NYSE:SCCO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.04. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $3.96 billion. Southern Copper had a net margin of 34.13% and a return on equity of 45.63%. Equities analysts anticipate that Southern Copper Corporation will post 6.99 earnings per share for the current fiscal year.

Southern Copper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, May 13th. Southern Copper's dividend payout ratio (DPR) is currently 66.12%.

Analyst Ratings Changes

A number of analysts recently issued reports on SCCO shares. Weiss Ratings reissued a "buy (b)" rating on shares of Southern Copper in a report on Friday, March 27th. Bank of America downgraded shares of Southern Copper from a "neutral" rating to an "underperform" rating and increased their price target for the stock from $162.00 to $175.00 in a report on Thursday, February 26th. Citigroup reissued a "sell" rating on shares of Southern Copper in a report on Monday, January 12th. Wells Fargo & Company set a $171.00 price target on shares of Southern Copper and gave the stock an "equal weight" rating in a report on Friday, May 1st. Finally, Wall Street Zen raised shares of Southern Copper from a "hold" rating to a "buy" rating in a report on Saturday, March 21st. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and seven have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $144.25.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 193 shares of the firm's stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $174.60, for a total value of $33,697.80. Following the transaction, the director directly owned 1,707 shares of the company's stock, valued at approximately $298,042.20. This trade represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.07% of the company's stock.

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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