Southern Copper Corporation (NYSE:SCCO) Shares Acquired by AGP Franklin LLC

Key Points

• AGP Franklin LLC has increased its stake in Southern Copper Corporation by 111.2% to a total of $1.85 million, indicating strong investor confidence in the company.
• Analysts have mixed views on Southern Copper, with Morgan Stanley maintaining an "underweight" rating and a price target increase to $99, while UBS downgraded the stock to "neutral" with a $105 price target.
• The company recently announced a dividend increase to $1.01 per share, reflecting positive earnings performance and a 2.7% yield for shareholders.

AGP Franklin LLC grew its holdings in Southern Copper Corporation (NYSE:SCCO - Free Report) by 111.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,354 shares of the basic materials company's stock after purchasing an additional 11,245 shares during the quarter. AGP Franklin LLC's holdings in Southern Copper were worth $1,854,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Teacher Retirement System of Texas purchased a new position in shares of Southern Copper during the first quarter valued at approximately $2,637,000. Golden State Wealth Management LLC purchased a new position in Southern Copper during the first quarter worth approximately $29,000. Oppenheimer & Co. Inc. purchased a new position in Southern Copper during the first quarter worth approximately $337,000. GAMMA Investing LLC raised its stake in Southern Copper by 35.2% during the first quarter. GAMMA Investing LLC now owns 906 shares of the basic materials company's stock worth $85,000 after purchasing an additional 236 shares during the period. Finally, Novem Group raised its stake in Southern Copper by 34.4% during the first quarter. Novem Group now owns 10,758 shares of the basic materials company's stock worth $1,005,000 after purchasing an additional 2,754 shares during the period. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SCCO has been the topic of a number of recent analyst reports. 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 research note on Thursday, July 3rd. UBS Group downgraded shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price target on the stock. in a research note on Tuesday, July 1st. Morgan Stanley reaffirmed an "underweight" rating and set a $99.00 price target (up previously from $86.00) on shares of Southern Copper in a research note on Tuesday, July 15th. Itau BBA Securities raised shares of Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. Finally, Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 24th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, Southern Copper currently has a consensus rating of "Hold" and a consensus price target of $91.00.

Southern Copper Trading Up 3.8%

Shares of Southern Copper stock traded up $3.47 during trading hours on Thursday, hitting $94.01. The company's stock had a trading volume of 1,631,536 shares, compared to its average volume of 1,456,956. Southern Copper Corporation has a 1-year low of $74.84 and a 1-year high of $121.44. The business has a fifty day moving average of $97.33 and a 200 day moving average of $93.86. The company has a market capitalization of $74.85 billion, a PE ratio of 20.60, a P/E/G ratio of 1.38 and a beta of 1.02. The company has a quick ratio of 3.22, a current ratio of 3.71 and a debt-to-equity ratio of 0.70.

Southern Copper Increases Dividend

The firm also recently disclosed a -- dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a $1.01 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a dividend yield of 2.7%. This is a positive change from Southern Copper's previous -- dividend of $0.62. Southern Copper's dividend payout ratio is presently 61.27%.

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.