Sanctuary Advisors LLC Makes New Investment in Southern Copper Co. (NYSE:SCCO)

Sanctuary Advisors LLC bought a new position in shares of Southern Copper Co. (NYSE:SCCO) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 5,228 shares of the basic materials company’s stock, valued at approximately $611,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SCCO. Fidelis Capital Partners LLC acquired a new stake in shares of Southern Copper in the first quarter valued at about $26,000. Riverview Trust Co acquired a new stake in shares of Southern Copper during the 1st quarter valued at approximately $27,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Southern Copper during the 2nd quarter valued at approximately $31,000. Hanseatic Management Services Inc. purchased a new stake in shares of Southern Copper during the 2nd quarter worth approximately $53,000. Finally, Blue Trust Inc. grew its holdings in shares of Southern Copper by 215.4% in the 2nd quarter. Blue Trust Inc. now owns 1,126 shares of the basic materials company’s stock worth $120,000 after acquiring an additional 769 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SCCO has been the subject of several research reports. Morgan Stanley lifted their price objective on Southern Copper from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. UBS Group initiated coverage on shares of Southern Copper in a research report on Friday, July 12th. They issued a “neutral” rating and a $120.00 price objective on the stock. Finally, Citigroup raised their target price on shares of Southern Copper from $99.44 to $100.00 and gave the company a “sell” rating in a report on Wednesday, October 2nd. Six research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $90.88.

Southern Copper Price Performance

Southern Copper stock opened at $117.56 on Tuesday. The firm’s 50-day moving average is $105.38 and its two-hundred day moving average is $109.95. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.81 and a quick ratio of 2.27. The stock has a market capitalization of $91.83 billion, a P/E ratio of 39.06, a P/E/G ratio of 1.22 and a beta of 1.18. Southern Copper Co. has a 12-month low of $68.93 and a 12-month high of $129.79.

Southern Copper (NYSE:SCCO) last announced its earnings results on Friday, July 19th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.09. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $2.96 billion. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. Equities analysts predict that Southern Copper Co. will post 4.5 earnings per share for the current year.

Southern Copper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Friday, August 9th. Southern Copper’s dividend payout ratio is currently 79.73%.

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.