Thomist Capital Management LP Invests $674,000 in Southern Copper Co. (NYSE:SCCO)

Thomist Capital Management LP bought a new stake in Southern Copper Co. (NYSE:SCCO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,447 shares of the basic materials company’s stock, valued at approximately $674,000.

A number of other institutional investors have also bought and sold shares of the company. Fortis Group Advisors LLC lifted its stake in shares of Southern Copper by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 302 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 151 shares during the period. Fidelis Capital Partners LLC bought a new stake in Southern Copper in the first quarter worth approximately $26,000. Riverview Trust Co acquired a new position in Southern Copper in the first quarter valued at approximately $27,000. Hanseatic Management Services Inc. bought a new position in shares of Southern Copper during the 2nd quarter worth approximately $53,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Southern Copper by 52.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,069 shares of the basic materials company’s stock worth $92,000 after buying an additional 369 shares during the period. Institutional investors own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

SCCO has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a research report on Friday, June 21st. UBS Group started coverage on shares of Southern Copper in a report on Friday, July 12th. They set a “neutral” rating and a $120.00 price objective on the stock. Five analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Southern Copper currently has an average rating of “Hold” and a consensus price target of $89.57.

Southern Copper Stock Performance

Shares of SCCO stock opened at $101.30 on Thursday. Southern Copper Co. has a 12 month low of $68.93 and a 12 month high of $129.79. The firm has a market capitalization of $79.13 billion, a PE ratio of 33.65, a price-to-earnings-growth ratio of 1.00 and a beta of 1.17. The firm has a fifty day simple moving average of $102.35 and a two-hundred day simple moving average of $107.48. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 0.67.

Southern Copper (NYSE:SCCO) last posted its earnings results on Friday, July 19th. The basic materials company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.13 by $0.09. Southern Copper had a net margin of 26.15% and a return on equity of 34.98%. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $2.96 billion. Analysts forecast that Southern Copper Co. will post 4.33 EPS for the current fiscal year.

Southern Copper Announces Dividend

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 $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Friday, August 9th. Southern Copper’s dividend payout ratio (DPR) is presently 79.73%.

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.