Entropy Technologies LP Has $1.71 Million Position in Southern Copper Corporation (NYSE:SCCO)

Key Points

• Entropy Technologies LP increased its holdings in Southern Copper Corporation by 113.2%, acquiring an additional 9,711 shares during the first quarter, bringing its total ownership to 18,286 shares valued at approximately $1.7 million.
• Various institutional investors have also made significant stake adjustments in Southern Copper, with Cullen Frost Bankers Inc. boosting its stake by 117.6% and several others investing in new positions during the same period.
• Southern Copper has announced a dividend increase to $1.01 per share, up from the previous $0.62, with a dividend yield of 270.0% and will be paid on September 4th to stockholders of record as of August 15th.

Entropy Technologies LP lifted its stake in Southern Copper Corporation (NYSE:SCCO - Free Report) by 113.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,286 shares of the basic materials company's stock after purchasing an additional 9,711 shares during the quarter. Entropy Technologies LP's holdings in Southern Copper were worth $1,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Southern Copper during the fourth quarter valued at approximately $40,226,000. Northern Trust Corp raised its position in Southern Copper by 44.9% during the fourth quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company's stock valued at $104,484,000 after acquiring an additional 355,013 shares in the last quarter. Marshall Wace LLP raised its position in Southern Copper by 49.6% during the fourth quarter. Marshall Wace LLP now owns 998,923 shares of the basic materials company's stock valued at $91,032,000 after acquiring an additional 331,319 shares in the last quarter. JPMorgan Chase & Co. raised its position in Southern Copper by 26.3% during the first quarter. JPMorgan Chase & Co. now owns 1,551,878 shares of the basic materials company's stock valued at $145,039,000 after acquiring an additional 322,935 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in shares of Southern Copper in the first quarter valued at approximately $25,739,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of Southern Copper stock in a transaction 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 sale, the director owned 2,327 shares in the company, valued at $232,700. The trade was a 15.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.07% of the company's stock.

Southern Copper Stock Performance

Shares of Southern Copper stock traded up $1.19 during midday trading on Wednesday, hitting $99.44. The company had a trading volume of 1,088,042 shares, compared to its average volume of 1,500,760. The business's 50 day simple moving average is $97.97 and its two-hundred day simple moving average is $93.76. The stock has a market cap of $79.96 billion, a PE ratio of 21.76, a P/E/G ratio of 1.43 and a beta of 1.00. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.27 and a quick ratio of 4.51. Southern Copper Corporation has a 1-year low of $74.84 and a 1-year high of $121.44.

Southern Copper Increases Dividend

The business also recently disclosed a -- dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be paid a $1.01 dividend. The ex-dividend date is Friday, August 15th. This is a positive change from Southern Copper's previous -- dividend of $0.62. This represents a dividend yield of 270.0%. Southern Copper's dividend payout ratio is 61.27%.

Analyst Upgrades and Downgrades

SCCO has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. dropped 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 lowered 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. Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 24th. Finally, Itau BBA Securities raised shares of Southern Copper from an "underperform" rating to a "market perform" rating in a research report on Wednesday, June 11th. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average 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.