First Trust Direct Indexing L.P. Has $393,000 Stake in Southern Copper Co. (NYSE:SCCO)

First Trust Direct Indexing L.P. grew its stake in Southern Copper Co. (NYSE:SCCOFree Report) by 13.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,685 shares of the basic materials company’s stock after purchasing an additional 447 shares during the period. First Trust Direct Indexing L.P.’s holdings in Southern Copper were worth $393,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Riverview Trust Co acquired a new stake in Southern Copper in the 1st quarter worth $27,000. Fortis Group Advisors LLC lifted its holdings 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 valued at $26,000 after purchasing an additional 151 shares during the last quarter. Viking Fund Management LLC bought a new position in Southern Copper during the 4th quarter valued at about $31,000. Venturi Wealth Management LLC raised its stake in shares of Southern Copper by 164.8% in the fourth quarter. Venturi Wealth Management LLC now owns 482 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 300 shares during the last quarter. Finally, Washington Trust Advisors Inc. bought a new position in shares of Southern Copper in the fourth quarter worth about $45,000. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Up 0.6 %

Shares of NYSE SCCO opened at $116.75 on Monday. The stock has a market cap of $91.20 billion, a P/E ratio of 38.80, a P/E/G ratio of 1.15 and a beta of 1.19. The firm has a 50 day moving average price of $114.58 and a 200 day moving average price of $100.06. 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 52-week low of $67.64 and a 52-week high of $129.79.

Southern Copper (NYSE:SCCOGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.17. The firm 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%. Analysts expect that Southern Copper Co. will post 4.45 EPS for the current year.

Southern Copper Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Wednesday, May 8th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Tuesday, May 7th. Southern Copper’s dividend payout ratio (DPR) is presently 1.33%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Jefferies Financial Group raised shares of Southern Copper from a “hold” rating to a “buy” rating and boosted their target price for the stock from $91.00 to $130.00 in a research note on Friday, March 22nd. JPMorgan Chase & Co. dropped their target price on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a research note on Thursday, March 21st. Scotiabank dropped their price target on shares of 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. HSBC downgraded shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price target for the company. in a research note on Monday, April 22nd. Finally, Morgan Stanley boosted their price target on shares of Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, June 21st. Five investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $84.50.

Get Our Latest Stock Report on Southern Copper

Insider Activity

In other news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were 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 owns 2,214 shares in the company, valued at $261,916.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Bonilla Luis Miguel Palomino sold 300 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $118.50, for a total value of $35,550.00. Following the sale, the director now owns 4,614 shares of the company’s stock, valued at $546,759. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $118.30, for a total transaction of $425,880.00. Following the completion of the sale, the director now directly owns 2,214 shares in the company, valued at approximately $261,916.20. The disclosure for this sale can be found here. Insiders sold 4,000 shares of company stock worth $472,430 over the last quarter. 0.08% of the stock is currently owned by company insiders.

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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