Vega Investment Solutions Buys Shares of 7,010 Southern Copper Corporation $SCCO

Vega Investment Solutions purchased a new position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,010 shares of the basic materials company's stock, valued at approximately $1,222,000.

Several other hedge funds have also made changes to their positions in SCCO. SHP Wealth Management acquired a new position in shares of Southern Copper in the fourth quarter valued at approximately $25,000. Bell Investment Advisors Inc acquired a new stake in Southern Copper during the 2nd quarter worth approximately $26,000. Rakuten Securities Inc. acquired a new stake in Southern Copper during the 2nd quarter worth approximately $28,000. Lloyd Advisory Services LLC. purchased a new position in Southern Copper in the 4th quarter valued at approximately $29,000. Finally, Virtus Advisers LLC acquired a new position in shares of Southern Copper in the fourth quarter worth $29,000. Institutional investors and hedge funds own 7.94% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Weiss Ratings upgraded Southern Copper from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. boosted their target price on Southern Copper from $125.49 to $129.94 and gave the stock an "underweight" rating in a research note on Wednesday, June 17th. Wall Street Zen downgraded Southern Copper from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. UBS Group reaffirmed a "sell" rating and issued a $158.10 price target (up from $143.28) on shares of Southern Copper in a research report on Tuesday, June 30th. Finally, Morgan Stanley boosted their price objective on Southern Copper from $144.27 to $156.13 and gave the stock an "underweight" rating in a research report on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $146.84.

Southern Copper Stock Down 0.9%

SCCO stock opened at $214.14 on Tuesday. The company has a current ratio of 5.06, a quick ratio of 4.56 and a debt-to-equity ratio of 0.63. Southern Copper Corporation has a twelve month low of $92.94 and a twelve month high of $223.88. The company's 50 day moving average is $182.69 and its two-hundred day moving average is $183.19. The stock has a market cap of $178.66 billion, a P/E ratio of 31.31, a PEG ratio of 1.85 and a beta of 1.11.

Southern Copper (NYSE:SCCO - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.06. The business had revenue of $4.29 billion during the quarter, compared to analysts' expectations of $4.37 billion. Southern Copper had a net margin of 35.87% and a return on equity of 49.04%. The company's revenue was up 40.6% on a year-over-year basis. Research analysts expect that Southern Copper Corporation will post 7.61 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be paid a $1.10 dividend. This is a boost from Southern Copper's previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, August 11th. Southern Copper's payout ratio is currently 64.33%.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 202 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total transaction of $39,751.28. Following the transaction, the director owned 1,723 shares of the company's stock, valued at approximately $339,066.65. This trade represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 509 shares of company stock valued at $97,753 in the last three months. Corporate insiders own 0.07% of the company's stock.

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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