American Century Companies Inc. Purchases 13,048 Shares of Southern Copper Corporation $SCCO

American Century Companies Inc. boosted its position in Southern Copper Corporation (NYSE:SCCO) by 21.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 75,319 shares of the basic materials company’s stock after purchasing an additional 13,048 shares during the period. American Century Companies Inc.’s holdings in Southern Copper were worth $7,620,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. American Financial Advisors LLC grew its holdings in shares of Southern Copper by 1.1% in the second quarter. American Financial Advisors LLC now owns 10,422 shares of the basic materials company’s stock valued at $1,054,000 after acquiring an additional 112 shares in the last quarter. Mutual Advisors LLC boosted its position in Southern Copper by 1.7% in the second quarter. Mutual Advisors LLC now owns 6,577 shares of the basic materials company’s stock worth $646,000 after purchasing an additional 113 shares during the last quarter. PDS Planning Inc grew its stake in Southern Copper by 3.7% in the 2nd quarter. PDS Planning Inc now owns 3,330 shares of the basic materials company’s stock valued at $337,000 after purchasing an additional 119 shares during the period. Drive Wealth Management LLC grew its stake in Southern Copper by 5.1% in the 2nd quarter. Drive Wealth Management LLC now owns 2,504 shares of the basic materials company’s stock valued at $253,000 after purchasing an additional 121 shares during the period. Finally, IFM Investors Pty Ltd increased its position in shares of Southern Copper by 1.0% during the 2nd quarter. IFM Investors Pty Ltd now owns 12,725 shares of the basic materials company’s stock valued at $1,287,000 after purchasing an additional 124 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 400 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $139.00, for a total transaction of $55,600.00. Following the sale, the director owned 1,265 shares in the company, valued at approximately $175,835. This trade represents a 24.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 1,148 shares of company stock valued at $152,218. 0.07% of the stock is owned by corporate insiders.

Southern Copper Stock Performance

NYSE:SCCO opened at $140.55 on Friday. The stock has a market cap of $114.15 billion, a P/E ratio of 29.47, a PEG ratio of 1.31 and a beta of 1.07. The company has a quick ratio of 3.91, a current ratio of 4.52 and a debt-to-equity ratio of 0.64. The business’s 50-day moving average price is $131.72 and its two-hundred day moving average price is $110.28. Southern Copper Corporation has a twelve month low of $74.84 and a twelve month high of $144.81.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Friday, October 31st. The basic materials company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.26 by $0.09. The company had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.05 billion. Southern Copper had a return on equity of 38.74% and a net margin of 30.98%. As a group, equities analysts predict that Southern Copper Corporation will post 4.66 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Wednesday, November 12th were issued a $0.90 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.6%. Southern Copper’s dividend payout ratio is presently 75.47%.

Wall Street Analysts Forecast Growth

SCCO has been the topic of a number of research analyst reports. Jefferies Financial Group set a $155.00 price target on shares of Southern Copper and gave the stock a “buy” rating in a report on Monday, October 6th. HSBC reiterated a “hold” rating and issued a $118.00 target price (up from $105.00) on shares of Southern Copper in a research note on Friday, October 17th. UBS Group reissued a “buy” rating on shares of Southern Copper in a research report on Friday, September 19th. JPMorgan Chase & Co. lifted their price target on shares of Southern Copper from $92.00 to $114.50 and gave the stock a “neutral” rating in a report on Monday, October 27th. Finally, Citigroup reaffirmed a “sell” rating and set a $108.00 price target (up previously from $89.10) on shares of Southern Copper in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $117.94.

Southern Copper Company 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.