Sivia Capital Partners LLC Acquires New Shares in Southern Copper Co. (NYSE:SCCO)

Sivia Capital Partners LLC purchased a new position in Southern Copper Co. (NYSE:SCCO) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,961 shares of the basic materials company’s stock, valued at approximately $209,000.

A number of other hedge funds have also modified their holdings of the company. Fisher Asset Management LLC grew its holdings in shares of Southern Copper by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 3,349,984 shares of the basic materials company’s stock worth $288,333,000 after buying an additional 39,422 shares in the last quarter. abrdn plc boosted its position in Southern Copper by 2.3% during the fourth quarter. abrdn plc now owns 3,041,233 shares of the basic materials company’s stock valued at $261,759,000 after purchasing an additional 67,930 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Southern Copper by 1.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,014,356 shares of the basic materials company’s stock valued at $87,306,000 after purchasing an additional 18,883 shares during the last quarter. Vanguard Group Inc. boosted its position in Southern Copper by 1.3% during the third quarter. Vanguard Group Inc. now owns 968,149 shares of the basic materials company’s stock valued at $72,892,000 after purchasing an additional 12,201 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Southern Copper by 5.1% during the third quarter. Legal & General Group Plc now owns 928,187 shares of the basic materials company’s stock valued at $69,883,000 after purchasing an additional 44,841 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SCCO has been the subject of several recent research 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 cut Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price objective for the company. in a research report on Monday, April 22nd. The Goldman Sachs Group raised their price objective on Southern Copper from $61.00 to $82.00 and gave the company a “sell” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. cut their price objective 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. Finally, Scotiabank cut 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. Five analysts have rated the stock with a sell rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $84.50.

Insiders Place Their Bets

In other news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of Southern Copper stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 300 shares of Southern Copper stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $118.50, for a total transaction of $35,550.00. Following the transaction, the director now directly owns 4,614 shares of the company’s stock, valued at approximately $546,759. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $425,880.00. Following the transaction, the director now directly owns 2,214 shares in the company, valued at $261,916.20. The disclosure for this sale can be found here. Insiders have sold a total of 4,000 shares of company stock worth $472,430 in the last 90 days. Company insiders own 0.08% of the company’s stock.

Southern Copper Stock Performance

NYSE:SCCO traded up $5.39 during mid-day trading on Wednesday, hitting $115.33. 633,035 shares of the stock were exchanged, compared to its average volume of 1,199,839. The stock has a market capitalization of $90.09 billion, a price-to-earnings ratio of 38.82, a price-to-earnings-growth ratio of 1.06 and a beta of 1.20. The firm’s 50-day simple moving average is $114.37 and its 200 day simple moving average is $99.38. 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 Co. has a fifty-two week low of $67.64 and a fifty-two week high of $129.79.

Southern Copper (NYSE:SCCO) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.94 EPS for the quarter, topping 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 analyst estimates of $2.50 billion. As a group, equities analysts anticipate that Southern Copper Co. will post 4.45 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. The ex-dividend date was Tuesday, May 7th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Southern Copper’s dividend payout ratio (DPR) is presently 1.33%.

About Southern Copper

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.