Kapitalo Investimentos Ltda Takes $936,000 Position in Southern Copper Co. (NYSE:SCCO)

Kapitalo Investimentos Ltda acquired a new stake in Southern Copper Co. (NYSE:SCCO) during the fourth quarter, HoldingsChannel reports. The firm acquired 10,874 shares of the basic materials company’s stock, valued at approximately $936,000.

Other hedge funds have also made changes to their positions in the company. Fortis Group Advisors LLC increased 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 valued at $26,000 after acquiring an additional 151 shares during the last quarter. Viking Fund Management LLC acquired a new stake in shares of Southern Copper in the 4th quarter valued at about $31,000. Venturi Wealth Management LLC boosted its position 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 valued at $41,000 after purchasing an additional 300 shares during the period. Washington Trust Advisors Inc. acquired a new stake in shares of Southern Copper in the 4th quarter valued at about $45,000. Finally, ICA Group Wealth Management LLC acquired a new stake in shares of Southern Copper in the 4th quarter valued at about $61,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Trading Up 2.2 %

Shares of SCCO stock traded up $2.32 during mid-day trading on Tuesday, hitting $107.58. 240,682 shares of the company’s stock were exchanged, compared to its average volume of 1,214,957. Southern Copper Co. has a fifty-two week low of $67.64 and a fifty-two week high of $129.79. The stock has a 50-day simple moving average of $115.55 and a two-hundred day simple moving average of $96.80. The company has a quick ratio of 2.56, a current ratio of 3.31 and a debt-to-equity ratio of 0.82. The stock has a market cap of $84.04 billion, a price-to-earnings ratio of 34.99, a PEG ratio of 1.17 and a beta of 1.24.

Southern Copper (NYSE:SCCO) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.50 billion. Equities analysts expect that Southern Copper Co. will post 4.22 EPS for the current fiscal year.

Southern Copper Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Wednesday, May 8th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend was Tuesday, May 7th. Southern Copper’s dividend payout ratio is presently 1.33%.

Insiders Place Their Bets

In other Southern Copper news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $118.30, for a total transaction of $425,880.00. Following the transaction, the director now owns 2,214 shares in the company, valued at $261,916.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of Southern Copper stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Bonilla Luis Miguel Palomino sold 300 shares of the business’s stock in a transaction dated 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 directly owns 4,614 shares of the company’s stock, valued at $546,759. The disclosure for this sale can be found here. Insiders have sold a total of 4,100 shares of company stock worth $483,450 over the last quarter. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a research report on Thursday, March 21st. Scotiabank decreased their price objective on 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. The Goldman Sachs Group increased their price objective on Southern Copper from $61.00 to $82.00 and gave the stock a “sell” rating in a research report on Friday, March 22nd. Jefferies Financial Group raised Southern Copper from a “hold” rating to a “buy” rating and increased their target price for the stock from $91.00 to $130.00 in a research note on Friday, March 22nd. Finally, CICC Research assumed coverage on Southern Copper in a research note on Wednesday, April 24th. They set an “outperform” rating for the company. Five research analysts have rated the stock with a sell rating and three have given a buy rating to the company. According to MarketBeat, Southern Copper currently has a consensus rating of “Hold” and an average target price of $90.33.

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.