Campbell & CO Investment Adviser LLC Makes New $2.94 Million Investment in Southern Copper Corporation $SCCO

Key Points

• Campbell & CO Investment Adviser LLC has made a new investment of approximately $2.94 million in Southern Copper Corporation, purchasing 31,468 shares during the first quarter.
• The company has recently announced a dividend increase, raising it from $0.62 to $1.01, yielding 270.0%, with the payout ratio at 70.02%.
• Shares of Southern Copper stock are currently priced at $97.45, with a market cap of $78.36 billion and analysts showing mixed ratings, including four "hold" recommendations.

Campbell & CO Investment Adviser LLC bought a new position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 31,468 shares of the basic materials company's stock, valued at approximately $2,941,000.

Other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new position in Southern Copper in the 1st quarter valued at $2,637,000. Golden State Wealth Management LLC acquired a new stake in shares of Southern Copper in the first quarter valued at about $29,000. Oppenheimer & Co. Inc. bought a new position in shares of Southern Copper in the first quarter worth about $337,000. GAMMA Investing LLC lifted its position in shares of Southern Copper by 35.2% during the 1st quarter. GAMMA Investing LLC now owns 906 shares of the basic materials company's stock worth $85,000 after purchasing an additional 236 shares during the last quarter. Finally, Novem Group boosted its stake in Southern Copper by 34.4% during the 1st quarter. Novem Group now owns 10,758 shares of the basic materials company's stock valued at $1,005,000 after purchasing an additional 2,754 shares during the period. Institutional investors own 7.94% of the company's stock.

Southern Copper Price Performance

NYSE:SCCO traded up $0.16 during trading hours on Thursday, reaching $96.37. The company had a trading volume of 966,575 shares, compared to its average volume of 1,412,260. The firm has a market capitalization of $77.49 billion, a PE ratio of 21.09, a PEG ratio of 1.43 and a beta of 1.00. The stock has a 50-day moving average of $98.08 and a two-hundred day moving average of $94.01. Southern Copper Corporation has a one year low of $74.84 and a one year high of $121.44. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a dividend of $1.01 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.04 annualized dividend and a yield of 4.2%. This is an increase from Southern Copper's previous quarterly dividend of $0.62. Southern Copper's payout ratio is 70.02%.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 414 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $100.00, for a total transaction of $41,400.00. Following the sale, the director 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. 0.07% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SCCO. Itau BBA Securities upgraded Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. UBS Group cut shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 target price for the company. in a research note on Tuesday, July 1st. Morgan Stanley restated 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. JPMorgan Chase & Co. cut their price objective on shares of Southern Copper from $83.50 to $79.00 and set a "neutral" rating for the company in a research report on Thursday, July 3rd. Finally, Wall Street Zen cut shares of Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Four investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target 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.