Southern Copper Corporation $SCCO Shares Acquired by Alaethes Wealth LLC

Key Points

• Alaethes Wealth LLC increased its holdings in Southern Copper Corporation (NYSE:SCCO) by 28.2%, owning 14,357 shares valued at approximately $1.34 million after purchasing an additional 3,161 shares in the first quarter.
• Southern Copper recently declared a quarterly dividend of $1.01, up from $0.62, translating to an annualized dividend of $4.04 and a yield of 3.9%.
• Analyst ratings for Southern Copper have varied, with UBS downgrading the stock to "neutral" and Morgan Stanley maintaining an "underweight" rating while adjusting the price target from $86.00 to $99.00.

Alaethes Wealth LLC raised its stake in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 28.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,357 shares of the basic materials company's stock after acquiring an additional 3,161 shares during the quarter. Alaethes Wealth LLC's holdings in Southern Copper were worth $1,342,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SCCO. Cullen Frost Bankers Inc. boosted its stake in Southern Copper by 117.6% during the 1st quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 147 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Southern Copper during the 1st quarter valued at $29,000. N.E.W. Advisory Services LLC bought a new position in Southern Copper during the 1st quarter valued at $34,000. Quarry LP bought a new position in Southern Copper during the 1st quarter valued at $41,000. Finally, Twin Tree Management LP boosted its stake in Southern Copper by 583.5% during the 1st quarter. Twin Tree Management LP now owns 622 shares of the basic materials company's stock valued at $58,000 after acquiring an additional 531 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Performance

Shares of NYSE:SCCO traded up $1.17 on Friday, reaching $106.22. 1,606,398 shares of the company's stock were exchanged, compared to its average volume of 1,405,178. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.67. Southern Copper Corporation has a fifty-two week low of $74.84 and a fifty-two week high of $121.44. The business's 50-day moving average is $98.11 and its two-hundred day moving average is $94.34. The firm has a market capitalization of $85.41 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 1.51 and a beta of 0.99.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were 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 was Friday, August 15th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.8%. 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. Over the last 90 days, insiders have sold 1,028 shares of company stock valued at $102,014. 0.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SCCO has been the topic of a number of research analyst reports. Morgan Stanley reiterated an "underweight" rating and set a $99.00 price objective (up from $86.00) on shares of Southern Copper in a research note on Tuesday, July 15th. Wall Street Zen downgraded shares of Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. increased their price objective on shares of Southern Copper from $79.00 to $92.00 and gave the company a "neutral" rating in a research note on Wednesday, September 3rd. Itau BBA Securities raised shares of Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. Finally, UBS Group cut shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 target price on the stock. in a report on Tuesday, July 1st. Four analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Southern Copper currently has a consensus rating of "Reduce" and an average price target of $93.60.

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.