Tower Research Capital LLC TRC raised its stake in Southern Copper Co. (NYSE:SCCO – Free Report) by 183.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,811 shares of the basic materials company’s stock after buying an additional 3,761 shares during the period. Tower Research Capital LLC TRC’s holdings in Southern Copper were worth $443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Southern Copper by 10.7% in the 1st quarter. BlackRock Inc. now owns 7,022,108 shares of the basic materials company’s stock valued at $532,978,000 after buying an additional 680,165 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Southern Copper by 200.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,179,899 shares of the basic materials company’s stock worth $208,201,000 after purchasing an additional 2,789,376 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Southern Copper by 43.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,763,612 shares of the basic materials company’s stock worth $209,759,000 after purchasing an additional 835,044 shares during the period. Mawer Investment Management Ltd. lifted its position in shares of Southern Copper by 761.9% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,756,533 shares of the basic materials company’s stock worth $210,186,000 after purchasing an additional 2,436,727 shares during the period. Finally, abrdn plc lifted its position in shares of Southern Copper by 134.8% in the 1st quarter. abrdn plc now owns 2,702,309 shares of the basic materials company’s stock worth $206,051,000 after purchasing an additional 1,551,189 shares during the period. 7.74% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Southern Copper
In other news, Director Sanchez Mejorada Enri Castillo sold 2,400 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $81.56, for a total value of $195,744.00. Following the sale, the director now owns 3,200 shares in the company, valued at $260,992. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Bonilla Luis Miguel Palomino sold 500 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $87.11, for a total transaction of $43,555.00. Following the sale, the director now directly owns 5,414 shares of the company’s stock, valued at $471,613.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sanchez Mejorada Enri Castillo sold 2,400 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $81.56, for a total transaction of $195,744.00. Following the sale, the director now directly owns 3,200 shares in the company, valued at $260,992. The disclosure for this sale can be found here. Insiders have sold 3,400 shares of company stock worth $274,404 over the last 90 days. 0.08% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Analysis on Southern Copper
Southern Copper Trading Up 0.8 %
Shares of Southern Copper stock opened at $79.22 on Wednesday. The company has a current ratio of 4.50, a quick ratio of 3.57 and a debt-to-equity ratio of 0.79. Southern Copper Co. has a 12-month low of $42.42 and a 12-month high of $87.59. The firm has a market capitalization of $61.25 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 18.96 and a beta of 1.26. The firm’s 50 day simple moving average is $77.47 and its two-hundred day simple moving average is $74.96.
Southern Copper (NYSE:SCCO – Get Free Report) last issued its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). Southern Copper had a net margin of 27.62% and a return on equity of 34.86%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.37 billion. Analysts predict that Southern Copper Co. will post 3.6 EPS for the current year.
Southern Copper Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be paid a $1.00 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.05%. This is a positive change from Southern Copper’s previous quarterly dividend of $0.95. Southern Copper’s dividend payout ratio is presently 111.11%.
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.
Featured Articles
- Five stocks we like better than Southern Copper
- How to Analyze Restaurant Stocks
- 5 Best Fintech Banks to Invest in Now
- Are Penny Stocks a Good Fit for Your Portfolio?
- 3 Smart AI ETFs For Intelligent Passive Investing Needs
- Investing in Agriculture 101: How to Invest in Agriculture
- 4 Reasons Zoom Video is Ready to Rock Into a Reversal
Want to see what other hedge funds are holding SCCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern Copper Co. (NYSE:SCCO – Free Report).
Receive News & Ratings for Southern Copper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Southern Copper and related companies with MarketBeat.com's FREE daily email newsletter.
