Farther Finance Advisors LLC Has $1.01 Million Stock Holdings in Southern Copper Corporation $SCCO

Key Points

• Farther Finance Advisors LLC increased its stake in Southern Copper Corporation by 743%, holding 9,956 shares valued at approximately $1.01 million as of its latest SEC filing.
• Southern Copper recently raised its quarterly dividend to $1.01 per share, representing an increase from its previous dividend of $0.62, with an annualized yield of 3.4%.
• Despite the positive growth, several analysts have given mixed ratings on Southern Copper, with target prices ranging from $79.00 to $99.00, reflecting varying levels of confidence in the stock's future performance.

Farther Finance Advisors LLC boosted its stake in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 743.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,956 shares of the basic materials company's stock after purchasing an additional 8,775 shares during the period. Farther Finance Advisors LLC's holdings in Southern Copper were worth $1,007,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SCCO. Teacher Retirement System of Texas bought a new stake in Southern Copper in the first quarter valued at approximately $2,637,000. Golden State Wealth Management LLC bought a new stake in Southern Copper in the first quarter valued at approximately $29,000. Oppenheimer & Co. Inc. bought a new stake in Southern Copper in the first quarter valued at approximately $337,000. GAMMA Investing LLC raised its stake in Southern Copper by 35.2% in the first quarter. GAMMA Investing LLC now owns 906 shares of the basic materials company's stock valued at $85,000 after buying an additional 236 shares during the period. Finally, Novem Group raised its stake in Southern Copper by 34.4% in the first quarter. Novem Group now owns 10,758 shares of the basic materials company's stock valued at $1,005,000 after buying an additional 2,754 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 414 shares of Southern Copper stock in a transaction on Friday, August 8th. The stock was sold at an average price of $100.00, for a total value of $41,400.00. Following the transaction, the director owned 2,327 shares in the company, valued at approximately $232,700. This trade represents a 15.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 1,228 shares of company stock valued at $123,102. Company insiders own 0.07% of the company's stock.

Southern Copper Trading Up 8.4%

Shares of SCCO opened at $119.50 on Thursday. Southern Copper Corporation has a 52-week low of $74.84 and a 52-week high of $121.49. The business's fifty day moving average is $99.68 and its 200-day moving average is $95.58. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.51 and a current ratio of 5.27. The firm has a market cap of $96.09 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 1.63 and a beta of 0.99.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 15th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, August 15th. This is a positive change from Southern Copper's previous quarterly dividend of $0.62. Southern Copper's dividend payout ratio is 70.02%.

Wall Street Analyst Weigh In

Several research firms have issued reports on SCCO. Morgan Stanley restated an "underweight" rating and issued a $99.00 price objective (up previously from $86.00) on shares of Southern Copper in a research note on Tuesday, July 15th. UBS Group reiterated a "buy" rating on shares of Southern Copper in a research note on Friday, September 19th. JPMorgan Chase & Co. increased their target price on Southern Copper from $79.00 to $92.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 3rd. The Goldman Sachs Group set a $89.00 target price on Southern Copper and gave the stock a "sell" rating in a research note on Wednesday, September 17th. Finally, Itau BBA Securities upgraded Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. Four investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Southern Copper has a consensus rating of "Reduce" and an average price target of $93.67.

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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