BI Asset Management Fondsmaeglerselskab A S Has $4.38 Million Stake in Southern Copper Corporation $SCCO

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Southern Copper Corporation by 7.0% in the 1st quarter, holding 46,867 shares valued at $4.38 million after selling 3,503 shares.
• Southern Copper recently announced a dividend increase to $1.01, up from $0.62, with a scheduled payment date on September 4th, reflecting a significant boost to shareholder returns.
• The stock has shown volatility with a one-year low of $74.84 and a high of $121.44, currently trading at approximately $93.71.

BI Asset Management Fondsmaeglerselskab A S reduced its position in Southern Copper Corporation (NYSE:SCCO - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,867 shares of the basic materials company's stock after selling 3,503 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Southern Copper were worth $4,380,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its stake in shares of Southern Copper by 2.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 27,948 shares of the basic materials company's stock valued at $2,547,000 after buying an additional 745 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Southern Copper in the fourth quarter valued at about $8,420,000. Barclays PLC raised its position in Southern Copper by 5.6% in the fourth quarter. Barclays PLC now owns 50,809 shares of the basic materials company's stock worth $4,629,000 after purchasing an additional 2,708 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Southern Copper by 8.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 424,673 shares of the basic materials company's stock worth $38,703,000 after purchasing an additional 31,453 shares during the period. Finally, Natixis bought a new position in Southern Copper during the fourth quarter worth about $1,720,000. Institutional investors and hedge funds own 7.94% of the company's stock.

Southern Copper Stock Performance

Shares of NYSE:SCCO opened at $93.7140 on Thursday. The business has a fifty day moving average of $97.98 and a 200-day moving average of $93.92. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.51 and a current ratio of 5.27. Southern Copper Corporation has a twelve month low of $74.84 and a twelve month high of $121.44. The firm has a market cap of $75.35 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 1.38 and a beta of 1.00.

Southern Copper Increases Dividend

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

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 414 shares of the company's stock in a transaction that occurred on 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.07% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Itau BBA Securities upgraded Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. Morgan Stanley reiterated an "underweight" rating and issued a $99.00 price target (up from $86.00) on shares of Southern Copper in a research report on Tuesday, July 15th. Wall Street Zen lowered Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. cut their price objective on Southern Copper from $83.50 to $79.00 and set a "neutral" rating for the company in a report on Thursday, July 3rd. Finally, Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. Four equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $91.00.

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.

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