13,414 Shares in Southern Copper Corporation $SCCO Purchased by Calamos Wealth Management LLC

Key Points

• Calamos Wealth Management LLC disclosed a new first-quarter stake in Southern Copper, buying 13,414 shares valued at about $2.3 million.
• Southern Copper shares were down 0.6% to $174.69, with the stock trading below both its 50-day and 200-day moving averages.
• The company recently paid a $1.00 quarterly dividend, equal to an annualized $4.00 per share and a 2.3% yield; meanwhile, analysts currently have a consensus rating of "Reduce" with a $147.10 price target.

Calamos Wealth Management LLC acquired a new stake in Southern Copper Corporation (NYSE:SCCO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,414 shares of the basic materials company's stock, valued at approximately $2,308,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Intech Investment Management LLC raised its stake in shares of Southern Copper by 0.8% during the 4th quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company's stock worth $865,000 after buying an additional 50 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in Southern Copper by 0.8% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,072 shares of the basic materials company's stock valued at $871,000 after acquiring an additional 51 shares during the period. Steel Grove Capital Advisors LLC increased its holdings in Southern Copper by 1.8% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company's stock worth $417,000 after acquiring an additional 52 shares in the last quarter. Ensign Peak Advisors Inc increased its holdings in Southern Copper by 0.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 6,379 shares of the basic materials company's stock worth $915,000 after acquiring an additional 53 shares in the last quarter. Finally, Venture Visionary Partners LLC raised its position in Southern Copper by 0.8% during the fourth quarter. Venture Visionary Partners LLC now owns 6,998 shares of the basic materials company's stock worth $1,004,000 after acquiring an additional 53 shares during the period. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Stock Down 0.6%

NYSE SCCO opened at $174.69 on Tuesday. The business has a fifty day moving average price of $181.20 and a 200 day moving average price of $181.37. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. The company has a market cap of $144.31 billion, a P/E ratio of 28.87, a P/E/G ratio of 1.54 and a beta of 1.11. Southern Copper Corporation has a one year low of $88.73 and a one year high of $223.88.

Southern Copper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, May 13th. Southern Copper's dividend payout ratio (DPR) is currently 66.12%.

Insider Buying and Selling at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00. Following the transaction, the director directly owned 1,807 shares in the company, valued at approximately $321,320.74. The trade was a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 404 shares of company stock valued at $74,108 over the last quarter. Company insiders own 0.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. The Goldman Sachs Group raised shares of Southern Copper from a "sell" rating to a "neutral" rating and set a $178.00 price objective on the stock in a report on Friday, April 10th. Wells Fargo & Company boosted their target price on shares of Southern Copper from $171.00 to $172.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 9th. Wall Street Zen upgraded shares of Southern Copper from a "hold" rating to a "buy" rating in a research report on Saturday, June 27th. Barclays began coverage on shares of Southern Copper in a research note on Thursday, May 21st. They issued an "underweight" rating and a $148.00 price target on the stock. Finally, UBS Group reiterated a "sell" rating and issued a $160.00 price objective (up from $145.00) on shares of Southern Copper in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and eight have issued a Sell rating to the company. According to MarketBeat, Southern Copper presently has a consensus rating of "Reduce" and a consensus price target of $147.10.

Southern Copper Company Profile

Southern Copper Corporation NYSE: SCCO is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper's operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.

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