Robeco Institutional Asset Management B.V. Raises Stake in Southern Copper Corporation $SCCO

Key Points

• Robeco Institutional Asset Management raised its stake in Southern Copper by 9.6% in Q4 to 214,426 shares, valued at about $30.76 million per its latest 13F filing.
• Insider selling has been notable: directors sold 9,526 shares over the past 90 days worth roughly $1.99 million, including a 9,326-share sale by Director Lerdo De Tejada that cut his holding by ~94%.
• Southern Copper raised its quarterly dividend to $1.00 (annualized $4.00, ~2.0% yield) and recently beat Q results with $1.55 EPS and $3.87B revenue, though analysts maintain a consensus "Reduce" rating with a $145.19 target.

Robeco Institutional Asset Management B.V. boosted its holdings in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 9.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 214,426 shares of the basic materials company's stock after acquiring an additional 18,831 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Southern Copper were worth $30,764,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SCCO. Royal Bank of Canada lifted its position in Southern Copper by 42.1% during the 1st quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company's stock valued at $4,194,000 after acquiring an additional 13,293 shares during the period. Empowered Funds LLC lifted its position in Southern Copper by 17.9% during the 1st quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company's stock valued at $627,000 after acquiring an additional 1,020 shares during the period. Focus Partners Wealth lifted its position in Southern Copper by 21.5% during the 1st quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company's stock valued at $556,000 after acquiring an additional 1,052 shares during the period. First Trust Advisors LP lifted its position in Southern Copper by 37.4% during the 2nd quarter. First Trust Advisors LP now owns 73,379 shares of the basic materials company's stock valued at $7,424,000 after acquiring an additional 19,957 shares during the period. Finally, Baird Financial Group Inc. lifted its position in Southern Copper by 17.7% during the 2nd quarter. Baird Financial Group Inc. now owns 4,864 shares of the basic materials company's stock valued at $492,000 after acquiring an additional 731 shares during the period. 7.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the firm's stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total transaction of $1,954,344.91. Following the completion of the sale, the director directly owned 605 shares in the company, valued at approximately $126,783.04. This trade represents a 93.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $33,697.80. Following the sale, the director owned 1,707 shares of the company's stock, valued at approximately $298,042.20. This represents a 10.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 9,526 shares of company stock valued at $1,989,373. 0.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wall Street Zen raised shares of Southern Copper from a "hold" rating to a "buy" rating in a research report on Saturday, March 21st. JPMorgan Chase & Co. lifted their price target on shares of Southern Copper from $117.50 to $127.00 and gave the company an "underweight" rating in a research report on Friday. Scotiabank reissued an "underperform" rating on shares of Southern Copper in a research report on Tuesday, January 27th. Wells Fargo & Company set a $190.38 price target on shares of Southern Copper and gave the company an "equal weight" rating in a research report on Thursday, January 29th. Finally, Itau BBA Securities cut shares of Southern Copper from a "market perform" rating to an "underperform" rating and set a $124.94 price target for the company. in a research report on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat, Southern Copper has a consensus rating of "Reduce" and a consensus target price of $145.19.

Southern Copper Stock Up 1.8%

NYSE:SCCO opened at $196.03 on Tuesday. The firm has a market cap of $160.56 billion, a P/E ratio of 36.85, a P/E/G ratio of 2.00 and a beta of 1.16. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.40 and a current ratio of 3.89. Southern Copper Corporation has a fifty-two week low of $84.97 and a fifty-two week high of $223.88. The firm has a 50-day simple moving average of $188.04 and a two-hundred day simple moving average of $159.64.

Southern Copper (NYSE:SCCO - Get Free Report) last released its quarterly earnings data on Wednesday, January 28th. The basic materials company reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.01. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.73 billion. Southern Copper had a net margin of 32.30% and a return on equity of 41.97%. During the same period last year, the business earned $0.98 EPS. Analysts predict that Southern Copper Corporation will post 4.66 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 10th were paid a dividend of $1.00 per share. The ex-dividend date was Tuesday, February 10th. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. This is an increase from Southern Copper's previous quarterly dividend of $0.90. Southern Copper's dividend payout ratio (DPR) is 75.19%.

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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