Banco Santander S.A. Purchases Shares of 12,368 Southern Copper Corporation (NYSE:SCCO)

Key Points

• Banco Santander S.A. has acquired a new position in Southern Copper Corporation, purchasing 12,368 shares valued at approximately $1,156,000 in the first quarter of the year.
• Southern Copper recently announced a dividend of $1.01 per share, significantly higher than its previous dividend of $0.62, reflecting a strong payout ratio of 61.27%.
• The company has seen mixed ratings from analysts, with a consensus rating of "Hold" and a target price of $91.00 amidst recent stock price fluctuations.

Banco Santander S.A. acquired a new stake in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,368 shares of the basic materials company's stock, valued at approximately $1,156,000.

Other large investors also recently added to or reduced their stakes in the company. Generali Investments CEE investicni spolecnost a.s. raised its holdings in Southern Copper by 0.7% in the first quarter. Generali Investments CEE investicni spolecnost a.s. now owns 15,077 shares of the basic materials company's stock worth $1,409,000 after buying an additional 108 shares during the last quarter. Balefire LLC grew its holdings in Southern Copper by 3.0% during the 1st quarter. Balefire LLC now owns 4,779 shares of the basic materials company's stock valued at $447,000 after buying an additional 141 shares in the last quarter. HB Wealth Management LLC lifted its stake in shares of Southern Copper by 6.4% in the 1st quarter. HB Wealth Management LLC now owns 2,377 shares of the basic materials company's stock valued at $222,000 after purchasing an additional 142 shares during the last quarter. Centerstone Investors LLC boosted its position in Southern Copper by 0.6% in the 4th quarter. Centerstone Investors LLC now owns 23,438 shares of the basic materials company's stock valued at $2,136,000 after buying an additional 143 shares during the period. Finally, Sava Infond d.o.o. increased its holdings in shares of Southern Copper by 0.7% during the first quarter. Sava Infond d.o.o. now owns 20,197 shares of the basic materials company's stock valued at $1,888,000 after acquiring an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.

Southern Copper Stock Performance

NYSE:SCCO traded up $2.40 on Thursday, hitting $97.47. The company's stock had a trading volume of 1,037,286 shares, compared to its average volume of 1,453,319. The firm has a market capitalization of $77.60 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 1.36 and a beta of 1.00. 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 one year low of $74.84 and a one year high of $121.44. The stock has a fifty day moving average of $97.50 and a two-hundred day moving average of $93.77.

Southern Copper Increases Dividend

The business also recently disclosed a -- dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a $1.01 dividend. This represents a yield of 270.0%. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Southern Copper's previous -- dividend of $0.62. Southern Copper's payout ratio is currently 70.02%.

Analyst Ratings Changes

Several brokerages have recently weighed in on SCCO. Itau BBA Securities upgraded Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. Hsbc Global Res upgraded shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 24th. Morgan Stanley reaffirmed an "underweight" rating and set a $99.00 price target (up from $86.00) on shares of Southern Copper in a research note on Tuesday, July 15th. Wall Street Zen lowered Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, 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 report on Thursday, July 3rd. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target 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.