Paloma Partners Management Co Takes $1.11 Million Position in Southern Copper Co. (NYSE:SCCO)

Paloma Partners Management Co acquired a new position in Southern Copper Co. (NYSE:SCCO) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,453 shares of the basic materials company’s stock, valued at approximately $1,113,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Fidelis Capital Partners LLC purchased a new stake in Southern Copper during the 1st quarter worth approximately $26,000. Riverview Trust Co purchased a new stake in Southern Copper during the 1st quarter worth approximately $27,000. Fortis Group Advisors LLC grew its position in Southern Copper by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 151 shares during the last quarter. Venturi Wealth Management LLC grew its position in Southern Copper by 164.8% during the 4th quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 300 shares during the last quarter. Finally, Washington Trust Advisors Inc. purchased a new stake in Southern Copper during the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Insiders Place Their Bets

In other Southern Copper news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $118.30, for a total transaction of $425,880.00. Following the completion of the transaction, the director now directly owns 2,214 shares in the company, valued at $261,916.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SCCO has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a research report on Friday, June 21st. Scotiabank dropped their price objective on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a report on Tuesday, May 21st. StockNews.com raised shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. HSBC downgraded shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective on the stock. in a report on Monday, April 22nd. Finally, CICC Research assumed coverage on shares of Southern Copper in a report on Wednesday, April 24th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $89.57.

Southern Copper Price Performance

NYSE:SCCO traded down $1.58 during trading hours on Monday, reaching $103.84. 1,095,573 shares of the company were exchanged, compared to its average volume of 1,190,685. The company has a current ratio of 3.31, a quick ratio of 2.56 and a debt-to-equity ratio of 0.82. The stock’s 50-day moving average is $111.44 and its 200-day moving average is $102.74. The firm has a market cap of $81.12 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 1.08 and a beta of 1.20. Southern Copper Co. has a twelve month low of $68.93 and a twelve month high of $129.79.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.17. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Southern Copper had a net margin of 24.20% and a return on equity of 30.44%. On average, sell-side analysts anticipate that Southern Copper Co. will post 4.34 earnings per share for the current fiscal year.

Southern Copper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Friday, August 9th. Southern Copper’s dividend payout ratio is presently 92.07%.

Southern Copper Profile

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.