CW Advisors LLC Buys Shares of 3,772 Southern Copper Corporation $SCCO

Key Points

• CW Advisors LLC has acquired 3,772 shares of Southern Copper Corporation, valued at approximately $357,000, indicating growing institutional interest in the company.
• Southern Copper recently announced a significant increase in its quarterly dividend, now at $1.01 per share, up from $0.62, which reflects an annualized payout of $4.04 with a dividend yield of 4.2%.
• Analysts' ratings for Southern Copper vary, with four analysts rating it as Hold and three as Sell, contributing to an average rating of "Reduce" and a consensus price target of $91.00.

CW Advisors LLC bought a new stake in Southern Copper Corporation (NYSE:SCCO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,772 shares of the basic materials company's stock, valued at approximately $357,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in Southern Copper by 26.3% in the first quarter. JPMorgan Chase & Co. now owns 1,551,878 shares of the basic materials company's stock valued at $145,039,000 after acquiring an additional 322,935 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Southern Copper by 10.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,354,637 shares of the basic materials company's stock valued at $123,448,000 after acquiring an additional 130,710 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Southern Copper by 6.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,280,286 shares of the basic materials company's stock valued at $116,672,000 after acquiring an additional 78,769 shares in the last quarter. Northern Trust Corp raised its holdings in Southern Copper by 44.9% in the fourth quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company's stock valued at $104,484,000 after acquiring an additional 355,013 shares in the last quarter. Finally, Driehaus Capital Management LLC raised its holdings in Southern Copper by 26.8% in the fourth quarter. Driehaus Capital Management LLC now owns 1,028,848 shares of the basic materials company's stock valued at $93,759,000 after acquiring an additional 217,546 shares in the last quarter. 7.94% of the stock is currently owned by hedge funds and other institutional investors.

Southern Copper Stock Performance

Shares of SCCO stock traded up $0.60 during trading hours on Tuesday, reaching $96.69. The stock had a trading volume of 400,473 shares, compared to its average volume of 1,403,781. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.27 and a quick ratio of 4.51. Southern Copper Corporation has a twelve month low of $74.84 and a twelve month high of $121.44. The firm has a 50-day simple moving average of $98.18 and a 200-day simple moving average of $94.00. The firm has a market capitalization of $77.75 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 1.41 and a beta of 0.99.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a $1.01 dividend. This is a boost from Southern Copper's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.2%. Southern Copper's dividend payout ratio is 70.02%.

Insider Buying and Selling at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $100.00, for a total value of $41,400.00. Following the sale, the director owned 2,327 shares of the company's stock, valued at $232,700. This trade represents a 15.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.07% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SCCO has been the topic of several recent analyst reports. Morgan Stanley reaffirmed an "underweight" rating and issued a $99.00 price target (up from $86.00) on shares of Southern Copper in a report on Tuesday, July 15th. UBS Group cut shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price target on the stock. in a report on Tuesday, July 1st. Itau BBA Securities raised shares of Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. 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. Finally, Wall Street Zen cut shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Four investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $91.00.

Southern Copper Company 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.