Coastal Investment Advisors Inc. buys new shares in Southern Copper Co. (NYSE: SCCO)

Coastal Investment Advisors Inc. bought a new stake in Southern Copper Co. (NYSE: SCCO – Get Rating) in the 1st quarter, according to the company in its last 13F submission to the SEC. The institutional investor bought 2,883 shares of the company’s stock for basic materials worth approximately $ 219,000.

A number of other large investors have also recently added or reduced their stakes in SCCO. Dimensional Fund Advisors LP increased its stake in Southern Copper by 0.6% in the third quarter. Dimensional Fund Advisors LP already owns 384,135 shares of the company’s stock for basic materials worth $ 21,570,000 after purchasing an additional 2,468 shares during the period. Dark Forest Capital Management LP bought a new stake in Southern Copper in the third quarter worth $ 95,000. Invesco Ltd. increased its position in Southern Copper by 9.0% in the third quarter. Invesco Ltd. now owns 119,334 shares of the company’s stock for basic materials worth $ 6,699,000 after acquiring an additional 9,855 shares in the last quarter. LPL Financial LLC increased its position in Southern Copper by 13.1% in the third quarter. LPL Financial LLC now owns 61,699 shares of the company’s stock for basic materials worth $ 3,464,000 after acquiring an additional 7,140 shares in the last quarter. Finally, UBS Group AG increased its position in Southern Copper by 7.7% in the third quarter. UBS Group AG already owns 155,848 shares of the company’s stock for basic materials worth $ 8,750,000 after acquiring an additional 11,152 shares in the last quarter. Institutional investors own 6.83% of the company’s shares.

SCCO opened at $ 51.50 on Friday. Southern Copper Co. has a 12-month low of $ 48.90 and a 12-month high of $ 79.32. The company has a current ratio of 3.34, a fast ratio of 2.75 and a debt to equity ratio of 0.76. The business’s 50-day simple moving average is $ 60.61, and its 200-day simple moving average is $ 65.44. The company has a market capitalization of $ 39.81 billion, a price / profit ratio of 11.63, a PEG ratio of 1.45 and a beta ratio of 1.12.

Southern Copper (NYSE: SCCO – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The commodities company reported $ 1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 1.01 by $ 0.01. Southern Copper had a return on equity of 42.00% and a net profit of 30.61%. The business had revenue of $ 2.76 billion for the quarter, compared to the consensus estimate of $ 2.68 billion. On average, stock analysts predict that Southern Copper Co. will report 4.14 EPS for the current year.

The company also recently announced a three-month dividend, which was paid on Tuesday, May 31st. The record shareholders on Tuesday, May 17, received a dividend of $ 1.25 per share. This is an increase over Southern Copper’s previous quarterly dividend of $ 1.00. The date of the former dividend was Monday, May 16. This represents a dividend of $ 5.00 on an annual basis and a dividend yield of 9.71%. Southern Copper’s dividend payout ratio is currently 112.87%.

Several stock analysts commented on the company. downgraded Southern Copper’s rating from a strong buy rating to a buy rating in a research report on Tuesday (May 10th). Morgan Stanley lowered its target for the price of Southern Copper from $ 66.00 to $ 52.00 and set a stock rating “under weight” in a research report on Wednesday. Finally, Barclays lowered its price target for Southern Copper from $ 62.00 to $ 61.00 and set an “equal weight” rating of the shares in a research report on Wednesday, June 8. One analyst rated the shares with a sell rating, three gave a hold rating and one assigned a buy rating to the company. According to MarketBeat, the shares currently have a consensus Hold rating and an average target price of $ 60.88.

Southern copper profile (Get a rating)

Southern Copper Corporation is engaged in the extraction, exploration, smelting and refining of copper and other minerals in Peru, Mexico, Argentina, Ecuador and Chile. The company is engaged in extraction, grinding and flotation of copper ore for the production of copper and molybdenum concentrates; melting of copper concentrates to obtain blister and anode copper; refining anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold and other materials; and extraction and processing of zinc and lead.

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Institutional ownership by quarter for Southern Copper (NYSE: SCCO)

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