Southern Copper Corporation $SCCO Shares Purchased by Fisher Asset Management LLC

Key Points

• Fisher Asset Management slightly increased its Southern Copper stake in the fourth quarter, owning about 2.54 million shares worth roughly $363.9 million.
• Southern Copper reported better-than-expected quarterly results, with EPS of $1.92 versus $1.88 expected and revenue of $4.25 billion versus $3.96 billion forecast.
• The company declared a quarterly dividend of $1.00 per share, equal to an annualized yield of about 2.2%, while analysts currently have a consensus rating of "Reduce" on the stock.

Fisher Asset Management LLC raised its stake in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,536,228 shares of the basic materials company's stock after buying an additional 7,194 shares during the period. Fisher Asset Management LLC owned approximately 0.31% of Southern Copper worth $363,873,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Southern Copper by 2,631.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,441 shares of the basic materials company's stock valued at $1,631,000 after buying an additional 12,949 shares during the period. Principal Financial Group Inc. increased its stake in Southern Copper by 159.8% during the 3rd quarter. Principal Financial Group Inc. now owns 10,308 shares of the basic materials company's stock valued at $1,251,000 after buying an additional 6,341 shares during the period. Alps Advisors Inc. increased its stake in Southern Copper by 54.2% during the 3rd quarter. Alps Advisors Inc. now owns 35,647 shares of the basic materials company's stock valued at $4,326,000 after buying an additional 12,532 shares during the period. AE Wealth Management LLC acquired a new position in Southern Copper during the 3rd quarter valued at about $1,531,000. Finally, ICICI Prudential Asset Management Co Ltd acquired a new position in Southern Copper during the 3rd quarter valued at about $8,452,000. Institutional investors and hedge funds own 7.94% of the company's stock.

Insider Activity at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the transaction, the director directly owned 1,807 shares in the company, valued at $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 500 shares of company stock valued at $88,412 in the last ninety days. Company insiders own 0.07% of the company's stock.

Wall Street Analysts Forecast Growth

SCCO has been the subject of several research reports. JPMorgan Chase & Co. raised their price objective on shares of Southern Copper from $117.50 to $127.00 and gave the company an "underweight" rating in a research report on Friday, April 10th. UBS Group raised their price objective on shares of Southern Copper from $140.00 to $145.00 and gave the company a "sell" rating in a research report on Thursday. The Goldman Sachs Group upgraded shares of Southern Copper from a "sell" rating to a "neutral" rating and set a $178.00 price objective for the company in a research report on Friday, April 10th. Barclays initiated coverage on shares of Southern Copper in a research report on Thursday. They set an "underweight" rating and a $148.00 price objective for the company. Finally, Wall Street Zen lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $145.14.

Southern Copper Stock Performance

Shares of SCCO opened at $179.68 on Monday. Southern Copper Corporation has a one year low of $88.73 and a one year high of $223.88. The company has a 50-day moving average of $177.58 and a two-hundred day moving average of $169.63. The stock has a market cap of $147.18 billion, a price-to-earnings ratio of 29.70, a PEG ratio of 1.77 and a beta of 1.07. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its earnings results on Wednesday, April 29th. The basic materials company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.88 by $0.04. Southern Copper had a net margin of 34.13% and a return on equity of 45.63%. The company had revenue of $4.25 billion during the quarter, compared to analysts' expectations of $3.96 billion. On average, equities research analysts expect that Southern Copper Corporation will post 6.93 earnings per share for the current year.

Southern Copper Announces Dividend

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

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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