Norden Group LLC Purchases Shares of 17,088 Southern Copper Co. (NYSE:SCCO)

Norden Group LLC purchased a new stake in shares of Southern Copper Co. (NYSE:SCCO) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 17,088 shares of the basic materials company’s stock, valued at approximately $1,820,000.

A number of other institutional investors have also bought and sold shares of SCCO. Fortis Group Advisors LLC boosted its position in Southern Copper by 100.0% during the fourth 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. Riverview Trust Co acquired a new position in shares of Southern Copper during the first quarter valued at about $27,000. Viking Fund Management LLC acquired a new position in shares of Southern Copper during the fourth quarter valued at about $31,000. Venturi Wealth Management LLC raised its holdings in shares of Southern Copper by 164.8% during the fourth 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. Finally, Washington Trust Advisors Inc. acquired a new position in shares of Southern Copper during the fourth quarter valued at about $45,000. Institutional investors own 7.94% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Jefferies Financial Group upgraded shares of Southern Copper from a “hold” rating to a “buy” rating and upped their price objective for the company from $91.00 to $130.00 in a report on Friday, March 22nd. Morgan Stanley upped their price objective on shares of Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a report on Friday, June 21st. Scotiabank dropped their price objective on shares of Southern Copper from $55.00 to $54.00 and set a “sector underperform” rating on the stock in a report on Tuesday, May 21st. Finally, CICC Research began coverage on shares of Southern Copper in a report on Wednesday, April 24th. They issued an “outperform” rating on the stock. Five equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. According to MarketBeat.com, Southern Copper currently has an average rating of “Hold” and a consensus price target of $84.50.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 300 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $118.50, for a total transaction of $35,550.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Bonilla Luis Miguel Palomino sold 300 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $118.50, for a total transaction of $35,550.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the firm’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 transaction of $425,880.00. Following the completion of the transaction, the director now directly owns 2,214 shares of the company’s stock, valued at $261,916.20. The disclosure for this sale can be found here. Insiders sold 4,000 shares of company stock valued at $472,430 in the last three months. Company insiders own 0.08% of the company’s stock.

Southern Copper Trading Up 5.5 %

SCCO opened at $116.03 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.31 and a quick ratio of 2.56. Southern Copper Co. has a fifty-two week low of $67.64 and a fifty-two week high of $129.79. The firm has a market capitalization of $90.64 billion, a PE ratio of 38.56, a P/E/G ratio of 1.14 and a beta of 1.19. The company’s 50-day moving average is $114.50 and its 200 day moving average is $99.49.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.17. Southern Copper had a net margin of 24.20% and a return on equity of 30.44%. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.50 billion. As a group, research analysts predict that Southern Copper Co. will post 4.45 earnings per share for the current fiscal year.

Southern Copper Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Wednesday, May 8th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Tuesday, May 7th. Southern Copper’s dividend payout ratio is currently 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.