Graham Capital Management L.P. Has $655,000 Stock Position in Southern Copper Corporation $SCCO

Key Points

• Graham Capital Management L.P. reduced its shareholding in Southern Copper Corporation by 64.9% during the first quarter, holding 7,008 shares valued at approximately $655,000 after selling 12,935 shares.
• Southern Copper recently declared a quarterly dividend increase from $0.62 to $1.01 per share, representing an annualized dividend of $4.04 and a yield of 3.9%.
• Analyst ratings for Southern Copper have been mixed, with institutions holding 7.94% of the stock and ratings ranging from "buy" to "underweight," reflecting a cautious outlook on the stock.

Graham Capital Management L.P. cut its position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 64.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,008 shares of the basic materials company's stock after selling 12,935 shares during the quarter. Graham Capital Management L.P.'s holdings in Southern Copper were worth $655,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Generali Investments CEE investicni spolecnost a.s. increased its position in shares of Southern Copper by 0.7% during 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 period. Balefire LLC boosted its stake in Southern Copper by 3.0% during the first quarter. Balefire LLC now owns 4,779 shares of the basic materials company's stock worth $447,000 after acquiring an additional 141 shares in the last quarter. HB Wealth Management LLC boosted its stake in Southern Copper by 6.4% during the first quarter. HB Wealth Management LLC now owns 2,377 shares of the basic materials company's stock worth $222,000 after acquiring an additional 142 shares in the last quarter. Centerstone Investors LLC boosted its stake in Southern Copper by 0.6% during the fourth quarter. Centerstone Investors LLC now owns 23,438 shares of the basic materials company's stock worth $2,136,000 after acquiring an additional 143 shares in the last quarter. Finally, Sava Infond d.o.o. boosted its stake in 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 worth $1,888,000 after acquiring an additional 144 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Up 2.2%

SCCO opened at $103.00 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.27 and a quick ratio of 4.51. The company's 50-day moving average is $98.19 and its 200 day moving average is $94.13. Southern Copper Corporation has a fifty-two week low of $74.84 and a fifty-two week high of $121.44. The firm has a market capitalization of $82.82 billion, a P/E ratio of 22.54, a PEG ratio of 1.48 and a beta of 0.99.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Friday, August 15th. This is an increase from Southern Copper's previous quarterly dividend of $0.62. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.9%. Southern Copper's payout ratio is 70.02%.

Insider Buying and Selling at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $232,700. This trade represents a 15.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 1,028 shares of company stock worth $102,014 over the last 90 days. 0.07% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on SCCO shares. Wall Street Zen lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. raised their price objective on shares of Southern Copper from $79.00 to $92.00 and gave the company a "neutral" rating in a research note on Wednesday. Itau BBA Securities raised shares of Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. Morgan Stanley reaffirmed an "underweight" rating and issued a $99.00 price objective (up from $86.00) on shares of Southern Copper in a research note on Tuesday, July 15th. Finally, UBS Group lowered shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price objective on the stock. in a research note on Tuesday, July 1st. Four analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $93.60.

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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