Diversified Trust Co. Buys Shares of 8,190 Southern Copper Corporation $SCCO

Diversified Trust Co. purchased a new position in Southern Copper Corporation (NYSE:SCCO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 8,190 shares of the basic materials company’s stock, valued at approximately $1,175,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital World Investors raised its stake in shares of Southern Copper by 36.1% in the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock worth $781,268,000 after buying an additional 1,708,693 shares during the period. State Street Corp increased its holdings in Southern Copper by 1.5% in the 3rd quarter. State Street Corp now owns 2,795,976 shares of the basic materials company’s stock worth $339,320,000 after acquiring an additional 40,847 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Southern Copper by 12.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,091,632 shares of the basic materials company’s stock worth $132,479,000 after acquiring an additional 123,532 shares during the period. Legal & General Group Plc raised its stake in Southern Copper by 1.5% during the 3rd quarter. Legal & General Group Plc now owns 955,924 shares of the basic materials company’s stock worth $116,012,000 after acquiring an additional 14,212 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Southern Copper by 11.2% during the third quarter. Vanguard Group Inc. now owns 950,018 shares of the basic materials company’s stock valued at $115,294,000 after purchasing an additional 96,013 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Insider Activity at Southern Copper

In other news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $209.56, for a total transaction of $1,954,344.91. Following the transaction, the director owned 605 shares of the company’s stock, valued at approximately $126,783.04. This represents a 93.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bonilla Luis Miguel Palomino sold 193 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.60, for a total value of $33,697.80. Following the completion of the sale, the director owned 1,707 shares in the company, valued at approximately $298,042.20. The trade was a 10.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 9,526 shares of company stock worth $1,989,373. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

SCCO has been the topic of a number of analyst reports. Zacks Research cut shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. UBS Group reissued a “sell” rating and set a $148.74 price target (up from $146.75) on shares of Southern Copper in a report on Tuesday, February 3rd. Citigroup restated a “sell” rating on shares of Southern Copper in a research report on Monday, January 12th. Morgan Stanley reaffirmed an “underweight” rating and issued a $154.69 price objective on shares of Southern Copper in a research note on Friday, January 30th. Finally, Itau BBA Securities cut Southern Copper from a “market perform” rating to an “underperform” rating and set a $124.94 target price for the company. in a research report on Monday, December 22nd. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and eight have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $139.99.

Southern Copper Price Performance

Shares of Southern Copper stock opened at $159.70 on Friday. The firm has a market cap of $130.81 billion, a PE ratio of 30.02, a PEG ratio of 1.71 and a beta of 1.03. The stock has a 50 day moving average of $190.13 and a 200 day moving average of $153.01. The company has a current ratio of 3.89, a quick ratio of 3.40 and a debt-to-equity ratio of 0.61. Southern Copper Corporation has a 12 month low of $74.84 and a 12 month high of $223.88.

Southern Copper (NYSE:SCCO) last released its quarterly earnings data on Wednesday, January 28th. The basic materials company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Southern Copper had a return on equity of 41.97% and a net margin of 32.30%.The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the previous year, the company posted $0.98 EPS. On average, research analysts expect that Southern Copper Corporation will post 4.66 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th were issued a $1.00 dividend. This is a positive change from Southern Copper’s previous quarterly dividend of $0.90. The ex-dividend date was Tuesday, February 10th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.5%. Southern Copper’s dividend payout ratio (DPR) is presently 75.19%.

Southern Copper Profile

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.