2,441 Shares in Southern Copper Co. (NYSE:SCCO) Bought by InterOcean Capital Group LLC

InterOcean Capital Group LLC acquired a new position in shares of Southern Copper Co. (NYSE:SCCO) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,441 shares of the basic materials company’s stock, valued at approximately $260,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Southern Copper in the fourth quarter worth $71,802,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Southern Copper by 54.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,541,396 shares of the basic materials company’s stock worth $164,190,000 after acquiring an additional 544,312 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Southern Copper in the first quarter valued at $27,163,000. CANADA LIFE ASSURANCE Co grew its position in shares of Southern Copper by 182.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 278,119 shares of the basic materials company’s stock valued at $29,625,000 after purchasing an additional 179,590 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of Southern Copper by 8,523.8% in the fourth quarter. International Assets Investment Management LLC now owns 172,907 shares of the basic materials company’s stock valued at $14,882,000 after purchasing an additional 170,902 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Trading Up 0.2 %

Shares of NYSE SCCO opened at $104.34 on Friday. The stock’s 50 day moving average price is $112.35 and its two-hundred day moving average price is $102.19. Southern Copper Co. has a 52-week low of $68.93 and a 52-week high of $129.79. The stock has a market capitalization of $81.51 billion, a P/E ratio of 34.68, a PEG ratio of 1.06 and a beta of 1.19. The company has a quick ratio of 2.56, a current ratio of 3.31 and a debt-to-equity ratio of 0.82.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings results 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 business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Southern Copper had a return on equity of 30.44% and a net margin of 24.20%. On average, 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 declared a quarterly dividend, which will be paid on Monday, August 26th. Stockholders 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 dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, August 9th. Southern Copper’s payout ratio is 1.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SCCO shares. HSBC downgraded Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective for the company. in a research report on Monday, April 22nd. Scotiabank lowered their price target on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating for the company in a research report on Tuesday, May 21st. CICC Research started coverage on Southern Copper in a research report on Wednesday, April 24th. They set an “outperform” rating for the company. Morgan Stanley boosted their price target on Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a research report on Friday, June 21st. Finally, StockNews.com raised Southern Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Five research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.57.

Insider Transactions at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 300 shares of the 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 completion of the transaction, the director now directly owns 4,614 shares of the company’s stock, valued at approximately $546,759. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Bonilla Luis Miguel Palomino sold 300 shares of the 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 completion of the transaction, the director now directly owns 4,614 shares of the company’s stock, valued at approximately $546,759. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $118.30, for a total value of $425,880.00. Following the completion of the transaction, the director now directly owns 2,214 shares of the company’s stock, valued at $261,916.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,000 shares of company stock worth $472,430. 0.08% of the stock is currently owned by company insiders.

About Southern Copper

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.