Riverview Trust Co Takes $27,000 Position in Southern Copper Co. (NYSE:SCCO)

Riverview Trust Co acquired a new position in Southern Copper Co. (NYSE:SCCO) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 256 shares of the basic materials company’s stock, valued at approximately $27,000.

Several other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Southern Copper in the 4th quarter worth $71,802,000. International Assets Investment Management LLC boosted its holdings in shares of Southern Copper by 8,523.8% in the 4th quarter. International Assets Investment Management LLC now owns 172,907 shares of the basic materials company’s stock worth $14,882,000 after purchasing an additional 170,902 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Southern Copper by 378.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 166,398 shares of the basic materials company’s stock valued at $14,322,000 after purchasing an additional 131,651 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Southern Copper by 17.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 687,501 shares of the basic materials company’s stock valued at $51,854,000 after buying an additional 102,286 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in Southern Copper by 17.5% in the 3rd quarter. Schroder Investment Management Group now owns 519,714 shares of the basic materials company’s stock worth $39,129,000 after buying an additional 77,518 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

SCCO has been the topic of a number of recent research reports. The Goldman Sachs Group increased their price target on shares of Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a research report on Friday, March 22nd. HSBC cut shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 target price on the stock. in a research report on Monday, April 22nd. JPMorgan Chase & Co. cut their price target on shares of Southern Copper from $63.50 to $61.00 and set an “underweight” rating for the company in a research report on Thursday, March 21st. Morgan Stanley lifted their price objective on Southern Copper from $81.70 to $100.00 and gave the stock an “underweight” rating in a report on Friday, June 21st. Finally, CICC Research began coverage on Southern Copper in a research report on Wednesday, April 24th. They set an “outperform” rating on the stock. Five research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $84.50.

Insider Activity at Southern Copper

In other Southern Copper news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the company’s 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 directly owns 2,214 shares in the company, valued at approximately $261,916.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 300 shares of Southern Copper stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $118.50, for a total transaction of $35,550.00. Following the sale, the director now directly owns 4,614 shares of the company’s stock, valued at approximately $546,759. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $118.30, for a total value of $425,880.00. Following the transaction, the director now owns 2,214 shares in the company, valued at approximately $261,916.20. 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. Corporate insiders own 0.08% of the company’s stock.

Southern Copper Stock Performance

Shares of NYSE:SCCO opened at $108.83 on Thursday. The company has a current ratio of 3.31, a quick ratio of 2.56 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average price of $114.79 and a 200-day moving average price of $98.31. The company has a market cap of $85.01 billion, a price-to-earnings ratio of 36.17, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. Southern Copper Co. has a 12 month low of $67.64 and a 12 month high of $129.79.

Southern Copper (NYSE:SCCO) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.94 EPS 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 business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.50 billion. As a group, equities analysts anticipate that Southern Copper Co. will post 4.41 EPS for the current year.

Southern Copper Cuts Dividend

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

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.