Southern Copper Co. (NYSE:SCCO) Shares Sold by Denali Advisors LLC

Denali Advisors LLC lessened its position in Southern Copper Co. (NYSE:SCCO) by 33.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,242 shares of the basic materials company’s stock after selling 2,158 shares during the period. Denali Advisors LLC’s holdings in Southern Copper were worth $457,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Fidelis Capital Partners LLC acquired a new stake in Southern Copper in the 1st quarter valued at about $26,000. Riverview Trust Co bought a new stake in shares of Southern Copper in the 1st quarter worth approximately $27,000. Fortis Group Advisors LLC lifted its stake in Southern Copper by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 151 shares during the last quarter. Hanseatic Management Services Inc. bought a new stake in Southern Copper during the second quarter worth approximately $53,000. Finally, EverSource Wealth Advisors LLC grew its position in Southern Copper by 52.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,069 shares of the basic materials company’s stock worth $92,000 after buying an additional 369 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of SCCO stock opened at $99.18 on Wednesday. The company has a market capitalization of $77.48 billion, a price-to-earnings ratio of 32.96, a P/E/G ratio of 1.00 and a beta of 1.17. Southern Copper Co. has a 1-year low of $68.93 and a 1-year high of $129.79. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67. The stock’s fifty day simple moving average is $102.65 and its 200-day simple moving average is $107.52.

Southern Copper (NYSE:SCCO) last announced its quarterly earnings data on Friday, July 19th. The basic materials company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.09. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $2.96 billion. Southern Copper had a return on equity of 34.98% and a net margin of 26.15%. On average, sell-side analysts predict that Southern Copper Co. will post 4.33 earnings per share for the current fiscal year.

Southern Copper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a $0.60 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.40 annualized dividend and a yield of 2.42%. Southern Copper’s dividend payout ratio is presently 79.77%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Scotiabank reduced their price objective on Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating for the company in a research note on Tuesday, May 21st. Morgan Stanley increased 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, UBS Group initiated coverage on Southern Copper in a research note on Friday, July 12th. They issued a “neutral” rating and a $120.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Southern Copper has a consensus rating of “Hold” and a consensus target price of $89.57.

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.