5,703 Shares in Southern Copper Corporation $SCCO Bought by Gallacher Capital Management LLC

Key Points

• Gallacher Capital Management LLC acquired 5,703 shares of Southern Copper Corporation, valued at approximately $577,000, in the second quarter.
• Several institutional investors have made significant purchases of Southern Copper, including Universal Beteiligungs und Servicegesellschaft mbH, which invested $40.2 million in the fourth quarter.
• The company recently increased its quarterly dividend from $0.62 to $1.01, equating to an annualized yield of 3.8%.

Gallacher Capital Management LLC bought a new position in Southern Copper Corporation (NYSE:SCCO - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 5,703 shares of the basic materials company's stock, valued at approximately $577,000.

Several other institutional investors have also recently bought and sold shares of SCCO. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Southern Copper in the 4th quarter worth $40,226,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Southern Copper during the 1st quarter worth about $40,338,000. Nuveen LLC bought a new position in shares of Southern Copper during the 1st quarter worth about $34,086,000. JPMorgan Chase & Co. increased its holdings in shares of Southern Copper by 26.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,551,878 shares of the basic materials company's stock worth $145,039,000 after purchasing an additional 322,935 shares during the period. Finally, Jennison Associates LLC bought a new position in shares of Southern Copper during the 1st quarter worth about $25,739,000. Institutional investors own 7.94% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SCCO. Morgan Stanley restated an "underweight" rating and set a $99.00 price objective (up previously from $86.00) on shares of Southern Copper in a report on Tuesday, July 15th. UBS Group downgraded shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price objective on the stock. in a report on Tuesday, July 1st. Itau BBA Securities upgraded shares of Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. JPMorgan Chase & Co. boosted their price objective on shares of Southern Copper from $79.00 to $92.00 and gave the stock a "neutral" rating in a report on Wednesday, September 3rd. Finally, Wall Street Zen downgraded shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Four equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $93.60.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of the business's 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 transaction, the director directly owned 2,327 shares in the company, valued at $232,700. The trade was a 15.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 1,228 shares of company stock valued at $123,102 in the last quarter. 0.07% of the stock is owned by insiders.

Southern Copper Price Performance

Shares of Southern Copper stock opened at $106.22 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.51 and a current ratio of 5.27. The firm's 50-day simple moving average is $98.12 and its 200-day simple moving average is $94.47. Southern Copper Corporation has a twelve month low of $74.84 and a twelve month high of $121.44. The firm has a market cap of $85.41 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 1.57 and a beta of 0.99.

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 given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.8%. This is a boost from Southern Copper's previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 15th. Southern Copper's dividend payout ratio (DPR) is presently 70.02%.

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.

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