Liberty Wealth Management LLC Takes $1.21 Million Position in Southern Copper Corporation (NYSE:SCCO)

Key Points

• Liberty Wealth Management LLC has acquired 12,897 shares of Southern Copper Corporation (NYSE:SCCO), valued at approximately $1,205,000, marking a significant new stake in the company.
• Several other institutional investors have also adjusted their holdings in Southern Copper, with 7.94% of the company's stock now owned by institutional investors and hedge funds.
• The company announced an increase in its dividend to $1.01 per share, significantly up from the previous dividend of $0.62, which reflects strong financial performance.

Liberty Wealth Management LLC acquired a new position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 12,897 shares of the basic materials company's stock, valued at approximately $1,205,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. J. Safra Sarasin Holding AG acquired a new position in shares of Southern Copper in the first quarter worth about $206,000. Banco Santander S.A. bought a new stake in shares of Southern Copper in the 1st quarter worth approximately $1,156,000. Klein Pavlis & Peasley Financial Inc. lifted its holdings in shares of Southern Copper by 11.5% during the first quarter. Klein Pavlis & Peasley Financial Inc. now owns 44,420 shares of the basic materials company's stock valued at $4,170,000 after acquiring an additional 4,583 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Southern Copper by 1.0% during the first quarter. PNC Financial Services Group Inc. now owns 17,547 shares of the basic materials company's stock worth $1,640,000 after purchasing an additional 180 shares in the last quarter. Finally, Strategic Advocates LLC boosted its position in shares of Southern Copper by 12.7% in the 1st quarter. Strategic Advocates LLC now owns 5,327 shares of the basic materials company's stock worth $498,000 after purchasing an additional 602 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Southern Copper Price Performance

Shares of SCCO traded up $2.40 during mid-day trading on Thursday, reaching $97.47. 1,037,286 shares of the company's stock were exchanged, compared to its average volume of 1,453,319. The company has a market cap of $77.60 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 1.36 and a beta of 1.00. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.67. Southern Copper Corporation has a 52-week low of $74.84 and a 52-week high of $121.44. The company has a 50-day simple moving average of $97.50 and a two-hundred day simple moving average of $93.77.

Southern Copper Increases Dividend

The firm also recently declared a -- dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.01 per share. This is a positive change from Southern Copper's previous -- dividend of $0.62. This represents a dividend yield of 270.0%. The ex-dividend date is Friday, August 15th. Southern Copper's dividend payout ratio is presently 70.02%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. cut their price target on shares of Southern Copper from $83.50 to $79.00 and set a "neutral" rating on the stock in a report on Thursday, July 3rd. Wall Street Zen cut shares of Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. UBS Group lowered shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 target price for the company. in a research report on Tuesday, July 1st. Finally, Morgan Stanley restated an "underweight" rating and issued a $99.00 target price (up previously from $86.00) on shares of Southern Copper in a research note on Tuesday, July 15th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $91.00.

Southern Copper 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.