Southern Copper Corporation $SCCO Stock Sold by Alps Advisors Inc.

Key Points

• Alps Advisors cut its Southern Copper stake by 12.5% in the third quarter, selling 19,486 shares and retaining 136,887 shares valued at about $27.7 million.
• Southern Copper beat quarterly earnings and revenue estimates, reporting EPS of $2.13 and revenue of $4.70 billion. It also raised its quarterly dividend to $1.30 per share from $1.10.
• Analyst sentiment was mostly cautious: the stock carried a consensus “Reduce” rating, with 7 Sell, 4 Hold, and 2 Buy ratings and a consensus price target of $159.26.

Alps Advisors Inc. decreased its position in Southern Copper Corporation (NYSE:SCCO - Free Report) by 12.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 136,887 shares of the basic materials company's stock after selling 19,486 shares during the quarter. Alps Advisors Inc.'s holdings in Southern Copper were worth $27,739,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC lifted its position in Southern Copper by 11.6% during the third quarter. Ashton Thomas Private Wealth LLC now owns 1,815 shares of the basic materials company's stock valued at $368,000 after purchasing an additional 188 shares during the last quarter. Asset One Wealth Management LLC grew its holdings in shares of Southern Copper by 14.0% in the third quarter. Asset One Wealth Management LLC now owns 1,829 shares of the basic materials company's stock valued at $371,000 after purchasing an additional 225 shares in the last quarter. Calamos Wealth Management LLC increased its stake in Southern Copper by 11.8% in the 3rd quarter. Calamos Wealth Management LLC now owns 22,193 shares of the basic materials company's stock valued at $4,497,000 after buying an additional 2,340 shares during the period. Kestra Advisory Services LLC grew its stake in shares of Southern Copper by 34.5% during the 3rd quarter. Kestra Advisory Services LLC now owns 36,907 shares of the basic materials company's stock valued at $7,479,000 after buying an additional 9,476 shares during the period. Finally, Covestor Ltd increased its position in shares of Southern Copper by 29.0% during the 3rd quarter. Covestor Ltd now owns 770 shares of the basic materials company's stock valued at $156,000 after purchasing an additional 173 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Price Performance

SCCO opened at $167.10 on Friday. Southern Copper Corporation has a 52-week low of $119.25 and a 52-week high of $223.88. The company has a market cap of $139.42 billion, a P/E ratio of 21.87, a P/E/G ratio of 1.66 and a beta of 1.15. The company has a 50 day moving average of $194.62 and a two-hundred day moving average of $185.44. The company has a quick ratio of 4.56, a current ratio of 4.31 and a debt-to-equity ratio of 0.59.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The basic materials company reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.12. The firm had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.49 billion. Southern Copper had a return on equity of 51.61% and a net margin of 37.16%. During the same period last year, the company earned $1.34 earnings per share. On average, analysts expect that Southern Copper Corporation will post 8.01 earnings per share for the current year.

Southern Copper Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Tuesday, November 3rd will be given a $1.30 dividend. The ex-dividend date is Tuesday, November 3rd. This is a positive change from Southern Copper's previous quarterly dividend of $1.10. This represents a $5.20 annualized dividend and a yield of 3.1%. Southern Copper's dividend payout ratio (DPR) is currently 57.59%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company set a $190.98 price target on Southern Copper and gave the stock an "equal weight" rating in a research report on Friday, October 23rd. CICC Research cut shares of Southern Copper to a "market perform" rating in a report on Sunday, July 26th. Wall Street Zen cut shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Saturday. Zacks Research downgraded shares of Southern Copper from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 7th. Finally, Weiss Ratings lowered shares of Southern Copper from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, October 30th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $159.26.

Southern Copper Profile

Southern Copper Corporation is an integrated mining company focused primarily on the exploration, mining, processing, and refining of copper. Its operations also produce molybdenum, zinc, lead, silver, and other mineral products.

The company operates mines and processing facilities in Peru and Mexico, including the Toquepala and Cuajone operations in Peru and the Buenavista and La Caridad operations in Mexico. Its activities extend across the mining and metals value chain, from extracting ore to producing refined metals and concentrates.

Southern Copper traces its origins to Southern Peru Copper Corporation, established in 1952, and is part of Grupo México.

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