Aware Super Pty Ltd as trustee of Aware Super Invests $11.40 Million in Southern Copper Corporation $SCCO

Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in Southern Copper Corporation (NYSE:SCCO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 66,257 shares of the basic materials company's stock, valued at approximately $11,400,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in Southern Copper by 42.1% during the first quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company's stock worth $4,194,000 after purchasing an additional 13,293 shares during the period. Empowered Funds LLC raised its position in shares of Southern Copper by 17.9% during the 1st quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company's stock valued at $627,000 after buying an additional 1,020 shares during the period. Focus Partners Wealth raised its position in shares of Southern Copper by 21.5% during the 1st quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company's stock valued at $556,000 after buying an additional 1,052 shares during the period. First Trust Advisors LP lifted its holdings in Southern Copper by 37.4% in the second quarter. First Trust Advisors LP now owns 73,379 shares of the basic materials company's stock valued at $7,424,000 after acquiring an additional 19,957 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in Southern Copper by 17.7% in the second quarter. Baird Financial Group Inc. now owns 4,864 shares of the basic materials company's stock valued at $492,000 after acquiring an additional 731 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.

Wall Street Analysts Forecast Growth

SCCO has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on Southern Copper from $146.00 to $158.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 8th. Wells Fargo & Company upped their target price on shares of Southern Copper from $171.00 to $172.00 and gave the company an "equal weight" rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. increased their target price on shares of Southern Copper from $127.00 to $131.50 and gave the stock an "underweight" rating in a research note on Wednesday, June 17th. The Goldman Sachs Group upgraded shares of Southern Copper from a "sell" rating to a "neutral" rating and set a $178.00 price target for the company in a research report on Friday, April 10th. Finally, Zacks Research raised shares of Southern Copper from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $148.10.

Southern Copper Stock Performance

NYSE SCCO opened at $172.22 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. Southern Copper Corporation has a 1 year low of $88.73 and a 1 year high of $223.88. The company has a market capitalization of $142.26 billion, a PE ratio of 28.47, a P/E/G ratio of 1.50 and a beta of 1.11. The company has a fifty day moving average of $181.03 and a two-hundred day moving average of $181.99.

Southern Copper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, May 13th. Southern Copper's payout ratio is currently 66.12%.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the transaction, the director directly owned 1,807 shares of the company's stock, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 404 shares of company stock valued at $74,108 in the last three months. Corporate insiders own 0.07% of the company's stock.

About Southern Copper

Southern Copper Corporation NYSE: SCCO is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper's operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.

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