Investors are always keeping a close eye on the moves made by prominent financial firms and analysts. As of the most recent 13F filing with the Securities and Exchange Commission, &CIBC Asset Management Inc reduced its stake in Southern Copper Co. (NYSE:SCCO) by 35.0% during the 4th quarter, according to company reports. The firm owned 20,698 shares of the basic materials company’s stock after selling 11,125 shares during that period – a significant decrease.
The news comes as Southern Copper (NYSE:SCCO) posted its quarterly earnings data on Thursday, April 27th. The basic materials company reported $1.05 EPS for the quarter, surpassing analysts’ consensus estimates of $1.04 by $0.01. Additionally, Southern Copper had a net margin of 26.46% and a return on equity of 33.71%. Impressively, the company’s revenue for the quarter was $2.79 billion compared to an estimate of $2.72 billion – painting a lucrative picture for potential investors.
As sell-side analysts weigh in on their expectations for Southern Copper Co.’s future performance, it appears that the average forecast is for the company to post an EPS of 4.06 this current fiscal year – undoubtedly adding intrigue to any investment decision.
Looking more closely at individuals involved with Southern Copper Co., in related news, Director Bonilla Luis Miguel Palomino sold off 500 shares of SCCO’s stock in early May- making headlines across major news publications from CNBC to Nasdaq markets coverage – after those shares were sold at an average price per share at $78 .50 each generating over thirty-nine thousand dollars ($39,250). Directly following this sale, this director maintained ownership over six thousand and fourteen (6,014) shares valued at nearly half a million dollars ($472 ,099) – proving vested interest.
As the market keeps a close eye on the moves made by &CIBC Asset Management Inc and others like SCEI, those with bona fide investment stakes or intentions will have much to consider from these developments.
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Institutional Investors Show Confidence in Southern Copper Co. as Company Demonstrates Growth Potential
Southern Copper Co. is a basic materials company with a passionate team of investors who are constantly exploring new and innovative ways to grow their investments in the company. A number of large investors recently modified their holdings in Southern Copper, demonstrating that there is an active demand for this stock.
Tower Research Capital LLC TRC acquired an additional 31.8% of Southern Copper’s shares during the third quarter. Tower Research Capital LLC TRC now holds 15,269 shares of Southern Copper worth $685,000. Private Advisor Group LLC displayed confidence in Southern Copper by acquiring an additional 10.9% of shares during the fourth quarter, bringing its total holdings up to 15,880 shares with a value of $289,929,000.
International Assets Investment Management LLC and SevenBridge Financial Group LLC further bolstered their positions with new acquisitions worth $779,000 and $294,000 respectively during the fourth quarter.
Pictet Asset Management SA lifted its holdings during the third quarter by 2%, bringing its total stake up to 111,771 shares valued at $5,012,000. Overall, institutional investors own 7.03% of Southern Copper’s stock.
Southern Copper currently trades at $70.49 per share following a drop of $0.79 during trading hours on Monday. However, this should not deter prospective investors as the company has a remarkable fifty-two week high of $82.05 and has demonstrated extraordinary growth potential over time.
Southern Copper has maintained steadfast performance amidst certain challenges as evidenced by a P/E ratio of 20.42 and P/E/G ratio of 14.64 with a debt-to-equity ratio standing at .76 on June 12th.
Director Bonilla Luis Miguel Palomino was involved in recent stock transactions worth noting – he sold five hundred shares for a position evaluation valued at approximately $39,250.
The firm recently announced a quarterly dividend payout of $0.95 per share that was paid on May 23rd to stockholders who submitted records on May 9th. The annualized dividend payout ratio is currently at 115.94% and has consistently serviced dividends for investors during the company’s performance streak.
On May 18th, StockNews.com began coverage on Southern Copper with a “buy” rating while four analysts rated the stock as a sell, with three holding and two giving it a buy rating.
Overall, Southern Copper remains an attractive investment opportunity in the basic materials sector capable of delivering expected positive returns over time to observant and prudent investors.