Southern Copper Co. (NYSE:SCCO) Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC grew its holdings in Southern Copper Co. (NYSE:SCCOFree Report) by 87.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,006 shares of the basic materials company’s stock after acquiring an additional 38,161 shares during the period. Verition Fund Management LLC’s holdings in Southern Copper were worth $7,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. AQR Capital Management LLC boosted its holdings in Southern Copper by 7.0% in the third quarter. AQR Capital Management LLC now owns 80,682 shares of the basic materials company’s stock valued at $6,075,000 after purchasing an additional 5,296 shares during the period. Tyche Wealth Partners LLC acquired a new stake in Southern Copper in the 4th quarter valued at about $1,668,000. Janney Montgomery Scott LLC raised its position in Southern Copper by 378.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 166,398 shares of the basic materials company’s stock valued at $14,322,000 after purchasing an additional 131,651 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Southern Copper by 119.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 41,223 shares of the basic materials company’s stock valued at $3,548,000 after purchasing an additional 22,471 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in Southern Copper by 149.6% in the 4th quarter. Corient Private Wealth LLC now owns 50,057 shares of the basic materials company’s stock valued at $4,308,000 after purchasing an additional 29,999 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of NYSE SCCO opened at $110.29 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.56 and a current ratio of 3.31. Southern Copper Co. has a fifty-two week low of $67.64 and a fifty-two week high of $129.79. The firm has a market capitalization of $86.15 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 1.19 and a beta of 1.24. The stock’s 50-day simple moving average is $115.90 and its 200-day simple moving average is $95.58.

Southern Copper (NYSE:SCCOGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.17. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. Southern Copper had a return on equity of 30.44% and a net margin of 24.20%. As a group, equities research analysts forecast that Southern Copper Co. will post 4.22 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th were paid a dividend of $0.01 per share. The ex-dividend date was Tuesday, May 7th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. Southern Copper’s dividend payout ratio is presently 1.33%.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 300 shares of Southern Copper stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $118.50, for a total value of $35,550.00. Following the transaction, the director now directly owns 4,614 shares in the company, valued at approximately $546,759. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 500 shares of company stock worth $55,280 in the last quarter. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SCCO shares. HSBC lowered Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price target on the stock. in a research report on Monday, April 22nd. Scotiabank reduced their price target on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, May 21st. Jefferies Financial Group raised Southern Copper from a “hold” rating to a “buy” rating and increased their price target for the company from $91.00 to $130.00 in a research report on Friday, March 22nd. Morgan Stanley raised their target price on Southern Copper from $123.00 to $135.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. cut their target price on Southern Copper from $63.50 to $61.00 and set an “underweight” rating on the stock in a research report on Thursday, March 21st. Five research analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Southern Copper presently has a consensus rating of “Hold” and an average price target of $90.33.

View Our Latest Research Report on SCCO

Southern Copper Profile

(Free Report)

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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