Perbak Capital Partners LLP Makes New $355,000 Investment in Southern Copper Corporation $SCCO

Key Points

• Perbak Capital Partners LLP acquired 3,795 shares of Southern Copper Corporation, valued at approximately $355,000, signaling growing institutional interest in the company.
• Southern Copper recently increased its quarterly dividend to $1.01 per share, up from $0.62, offering a yield of 4.2% and reflecting a positive financial outlook.
• Analysts maintain a consensus rating of "Reduce" for Southern Copper's stock, with target prices varying among firms, indicating mixed opinions on the company's future performance.

Perbak Capital Partners LLP bought a new position in Southern Copper Corporation (NYSE:SCCO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,795 shares of the basic materials company's stock, valued at approximately $355,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. lifted its holdings in shares of Southern Copper by 117.6% in the first quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company's stock worth $25,000 after acquiring an additional 147 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Southern Copper in the first quarter worth about $29,000. N.E.W. Advisory Services LLC bought a new position in shares of Southern Copper in the first quarter worth about $34,000. Quarry LP bought a new position in shares of Southern Copper in the first quarter worth about $41,000. Finally, Twin Tree Management LP lifted its holdings in shares of Southern Copper by 583.5% in the first quarter. Twin Tree Management LP now owns 622 shares of the basic materials company's stock worth $58,000 after acquiring an additional 531 shares during the last quarter. Institutional investors own 7.94% of the company's stock.

Southern Copper Trading Up 2.2%

NYSE SCCO traded up $2.18 during trading hours on Friday, reaching $103.00. The company's stock had a trading volume of 1,420,345 shares, compared to its average volume of 964,809. The firm has a fifty day simple moving average of $98.19 and a 200-day simple moving average of $94.09. The stock has a market cap of $82.82 billion, a P/E ratio of 22.54, a P/E/G ratio of 1.46 and a beta of 0.99. Southern Copper Corporation has a 52 week low of $74.84 and a 52 week high of $121.44. 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 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 15th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 3.9%. The ex-dividend date was Friday, August 15th. This is a positive change from Southern Copper's previous quarterly dividend of $0.62. Southern Copper's dividend payout ratio (DPR) is 70.02%.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of the firm'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 transaction of $41,400.00. Following the completion of the transaction, the director owned 2,327 shares in the company, valued at approximately $232,700. This trade represents a 15.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 1,028 shares of company stock worth $102,014. 0.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SCCO has been the subject of a number of research reports. Wall Street Zen cut shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. increased their target price on shares of Southern Copper from $79.00 to $92.00 and gave the stock a "neutral" rating in a report on Wednesday. UBS Group lowered shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price objective for the company. in a report on Tuesday, July 1st. Morgan Stanley reiterated an "underweight" rating and issued a $99.00 price objective (up previously from $86.00) on shares of Southern Copper in a report on Tuesday, July 15th. Finally, Itau BBA Securities upgraded shares of Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. Four equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $93.60.

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.