APG Asset Management N.V. Has $7.46 Million Stock Holdings in Southern Copper Corporation $SCCO

Key Points

• APG Asset Management N.V. reduced its holdings in Southern Copper Corporation by 19.8%, now owning 86,161 shares valued at approximately $7.46 million.
• Southern Copper recently announced a dividend increase to $1.01 per share, yielding 270.0%, with the ex-dividend date set for August 15th.
• Institutional investors and hedge funds currently hold 7.94% of Southern Copper's stock, with mixed recent ratings from analysts, including downgrades from some major firms.

APG Asset Management N.V. lessened its position in Southern Copper Corporation (NYSE:SCCO - Free Report) by 19.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 86,161 shares of the basic materials company's stock after selling 21,252 shares during the period. APG Asset Management N.V.'s holdings in Southern Copper were worth $7,455,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SCCO. Dimensional Fund Advisors LP boosted its stake in shares of Southern Copper by 8.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 424,673 shares of the basic materials company's stock valued at $38,703,000 after purchasing an additional 31,453 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Southern Copper by 974.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,633 shares of the basic materials company's stock valued at $331,000 after purchasing an additional 3,295 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Southern Copper by 11.0% in the 4th quarter. Voya Investment Management LLC now owns 12,536 shares of the basic materials company's stock valued at $1,142,000 after purchasing an additional 1,244 shares in the last quarter. Nebula Research & Development LLC boosted its stake in shares of Southern Copper by 104.9% in the 4th quarter. Nebula Research & Development LLC now owns 5,089 shares of the basic materials company's stock valued at $464,000 after purchasing an additional 2,605 shares in the last quarter. Finally, Virtus ETF Advisers LLC lifted its position in Southern Copper by 15.7% during the 4th quarter. Virtus ETF Advisers LLC now owns 1,717 shares of the basic materials company's stock worth $156,000 after buying an additional 233 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Southern Copper Stock Performance

Southern Copper stock opened at $97.10 on Tuesday. 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 Corporation has a 1 year low of $74.84 and a 1 year high of $121.44. The company has a market cap of $78.08 billion, a PE ratio of 21.25, a PEG ratio of 1.43 and a beta of 1.00. The company's 50-day moving average is $98.01 and its two-hundred day moving average is $93.97.

Southern Copper Increases Dividend

The firm also recently announced a -- dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a dividend of $1.01 per share. This represents a yield of 270.0%. The ex-dividend date is Friday, August 15th. This is a boost from Southern Copper's previous -- dividend of $0.62. Southern Copper's dividend payout ratio is currently 70.02%.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $100.00, for a total transaction of $41,400.00. Following the transaction, the director directly owned 2,327 shares in the company, valued at approximately $232,700. This represents a 15.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. reduced 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 report 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 report on Tuesday, July 1st. Itau BBA Securities upgraded shares of Southern Copper from an "underperform" rating to a "market perform" rating in a research report on Wednesday, June 11th. Finally, Morgan Stanley reiterated an "underweight" rating and set a $99.00 price target (up previously from $86.00) on shares of Southern Copper in a research report on Tuesday, July 15th. Four analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $91.00.

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.

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