2,237 Shares in Southern Copper Corporation $SCCO Purchased by Leo Wealth LLC

Key Points

• Leo Wealth LLC has purchased a new stake in Southern Copper Corporation, acquiring 2,237 shares valued at approximately $226,000 during the second quarter.
• The company's recent dividend has increased to $1.01 per share, up from $0.62, representing an annualized payout of $4.04 and a yield of 3.2%.
• Research analysts are divided on the stock's performance; while UBS and Jefferies have reiterated a "buy" rating, Citigroup has set a target price of $108.00 with a "sell" rating.

Leo Wealth LLC bought a new position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,237 shares of the basic materials company's stock, valued at approximately $226,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Generali Investments CEE investicni spolecnost a.s. grew its position in Southern Copper by 0.7% during the first quarter. Generali Investments CEE investicni spolecnost a.s. now owns 15,077 shares of the basic materials company's stock worth $1,409,000 after buying an additional 108 shares in the last quarter. American Financial Advisors LLC lifted its stake in Southern Copper by 1.1% during the second quarter. American Financial Advisors LLC now owns 10,422 shares of the basic materials company's stock worth $1,054,000 after purchasing an additional 112 shares during the period. IFM Investors Pty Ltd lifted its stake in Southern Copper by 1.0% during the second quarter. IFM Investors Pty Ltd now owns 12,725 shares of the basic materials company's stock worth $1,287,000 after purchasing an additional 124 shares during the period. Zurich Insurance Group Ltd FI lifted its stake in Southern Copper by 0.7% during the first quarter. Zurich Insurance Group Ltd FI now owns 17,331 shares of the basic materials company's stock worth $1,620,000 after purchasing an additional 125 shares during the period. Finally, Balefire LLC lifted its stake in Southern Copper by 3.0% during the first quarter. Balefire LLC now owns 4,779 shares of the basic materials company's stock worth $447,000 after purchasing an additional 141 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Stock Performance

SCCO stock opened at $125.00 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.27 and a quick ratio of 4.51. The company has a 50 day moving average price of $106.49 and a 200 day moving average price of $97.97. Southern Copper Corporation has a fifty-two week low of $74.84 and a fifty-two week high of $136.49. The stock has a market capitalization of $100.51 billion, a PE ratio of 27.35, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were given a $1.01 dividend. This is a boost from Southern Copper's previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 15th. This represents a $4.04 annualized dividend and a yield of 3.2%. Southern Copper's dividend payout ratio is presently 70.02%.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $100.00, for a total value of $41,400.00. Following the completion of the transaction, the director owned 2,327 shares in the company, valued at $232,700. The trade was a 15.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders have sold 1,228 shares of company stock valued at $123,102. Insiders own 0.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. UBS Group restated a "buy" rating on shares of Southern Copper in a research note on Friday, September 19th. Jefferies Financial Group set a $155.00 price target on shares of Southern Copper and gave the stock a "buy" rating in a research note on Monday. Citigroup restated a "sell" rating and set a $108.00 price target (up previously from $89.10) on shares of Southern Copper in a research note on Wednesday. Wells Fargo & Company upgraded shares of Southern Copper to a "hold" rating in a research note on Wednesday. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Southern Copper in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $109.88.

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.

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