Fox Run Management L.L.C. Invests $787,000 in Southern Copper Corporation $SCCO

Key Points

• Fox Run Management L.L.C. has acquired 8,424 shares of Southern Copper Corporation (NYSE:SCCO), valued at approximately $787,000, marking a significant investment in the basic materials company.
• Southern Copper recently announced a dividend increase, with a payment of $1.01 per share, reflecting a yield of 270.0%, up from the previous $0.62.
• Various institutional investors have made recent moves, including Envestnet Asset Management increasing its holdings by 2.7% and Cerity Partners boosting theirs by 17.3% in the last quarter.

Fox Run Management L.L.C. 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 firm bought 8,424 shares of the basic materials company's stock, valued at approximately $787,000.

Several other hedge funds also recently added to or reduced their stakes in SCCO. Envestnet Asset Management Inc. boosted its holdings in Southern Copper by 2.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 27,948 shares of the basic materials company's stock valued at $2,547,000 after purchasing an additional 745 shares during the last quarter. Cerity Partners LLC boosted its holdings in Southern Copper by 17.3% in the fourth quarter. Cerity Partners LLC now owns 15,858 shares of the basic materials company's stock valued at $1,445,000 after purchasing an additional 2,342 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Southern Copper in the fourth quarter valued at $8,420,000. Sterling Capital Management LLC boosted its holdings in Southern Copper by 8.5% in the fourth quarter. Sterling Capital Management LLC now owns 3,700 shares of the basic materials company's stock valued at $337,000 after purchasing an additional 291 shares during the last quarter. Finally, Townsquare Capital LLC boosted its holdings in Southern Copper by 7.0% in the fourth quarter. Townsquare Capital LLC now owns 9,293 shares of the basic materials company's stock valued at $847,000 after purchasing an additional 606 shares during the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Trading Down 0.5%

SCCO traded down $0.4340 on Thursday, hitting $93.2660. The company had a trading volume of 289,742 shares, compared to its average volume of 1,425,337. The firm has a market cap of $74.99 billion, a P/E ratio of 20.43, a PEG ratio of 1.38 and a beta of 1.00. Southern Copper Corporation has a 1 year low of $74.84 and a 1 year high of $121.44. The company's fifty day moving average price is $97.98 and its 200 day moving average price is $93.92. The company has a current ratio of 5.27, a quick ratio of 4.51 and a debt-to-equity ratio of 0.67.

Southern Copper Increases Dividend

The business also recently announced a -- 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 -- dividend of $0.62. The ex-dividend date is Friday, August 15th. This represents a yield of 270.0%. Southern Copper's payout ratio is 70.02%.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of Southern Copper 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 sale, 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 is accessible through this link. Company insiders own 0.07% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on SCCO. Wall Street Zen lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. UBS Group lowered shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 target price on the stock. in a research note on Tuesday, July 1st. Morgan Stanley reaffirmed an "underweight" rating and issued a $99.00 price target (up from $86.00) on shares of Southern Copper in a research note 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 analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $91.00.

Southern Copper 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.