Southern Copper Co. (NYSE:SCCO) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. raised its holdings in Southern Copper Co. (NYSE:SCCO) by 68.2% in the first quarter, Holdings Channel.com reports. The fund owned 15,206 shares of the basic materials company’s stock after acquiring an additional 6,164 shares during the period. Edgestream Partners L.P.’s holdings in Southern Copper were worth $1,620,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SCCO. Fortis Group Advisors LLC raised its holdings in shares of Southern Copper by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 151 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Southern Copper during the 1st quarter valued at $26,000. Riverview Trust Co acquired a new stake in shares of Southern Copper during the 1st quarter valued at $27,000. Viking Fund Management LLC bought a new stake in shares of Southern Copper during the 4th quarter worth $31,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Southern Copper by 164.8% in the 4th 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. Institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

SCCO has been the subject of a number of recent analyst reports. 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. HSBC downgraded shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective on the stock. in a research report on Monday, April 22nd. Scotiabank cut their target price on shares of 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. StockNews.com upgraded Southern Copper from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Finally, CICC Research started coverage on shares of Southern Copper in a research note on Wednesday, April 24th. They issued an “outperform” rating for the company. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Southern Copper has a consensus rating of “Hold” and a consensus price target of $89.57.

Insiders Place Their Bets

In other news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the stock in a transaction 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 approximately $261,916.20. The sale was disclosed in a filing with the SEC, which is available at this link. In other Southern Copper news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of Southern Copper stock in a transaction that occurred 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 sale, the director now directly owns 2,214 shares of the company’s stock, valued at $261,916.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bonilla Luis Miguel Palomino sold 300 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 4,614 shares in the company, valued at $546,759. The disclosure for this sale can be found here. Insiders have sold 4,000 shares of company stock worth $472,430 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Southern Copper Stock Performance

Shares of SCCO traded up $0.60 during mid-day trading on Monday, hitting $104.90. The company’s stock had a trading volume of 1,468,220 shares, compared to its average volume of 1,193,121. The firm has a market capitalization of $81.94 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 1.04 and a beta of 1.19. Southern Copper Co. has a one year low of $68.93 and a one year high of $129.79. The stock’s 50-day moving average is $113.72 and its two-hundred day moving average is $101.86. 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 (NYSE:SCCO) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.77 by $0.17. Southern Copper had a return on equity of 30.44% and a net margin of 24.20%. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. As a group, sell-side analysts anticipate that Southern Copper Co. will post 4.43 EPS for the current year.

Southern Copper Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be given a $0.60 dividend. The ex-dividend date is Friday, August 9th. Southern Copper’s dividend payout ratio (DPR) is currently 1.33%.

Southern Copper 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.