JPMorgan Chase & Co. Has $145.04 Million Stock Holdings in Southern Copper Corporation (NYSE:SCCO)

Key Points

• JPMorgan Chase & Co. increased its stake in Southern Copper Corporation by 26.3%, owning approximately $145 million worth of shares as of its latest SEC filing.
• The company recently announced a $1.01 dividend for shareholders, a notable increase from the previous $0.62 dividend, reflecting a strong yield of 270.0%.
• Southern Copper has experienced fluctuating analyst ratings, with recent upgrades and downgrades, leading to an average rating of "Hold" and a target price of $91.00 for the stock.

JPMorgan Chase & Co. boosted its stake in Southern Copper Corporation (NYSE:SCCO - Free Report) by 26.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,551,878 shares of the basic materials company's stock after purchasing an additional 322,935 shares during the quarter. JPMorgan Chase & Co. owned about 0.19% of Southern Copper worth $145,039,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Southern Copper in the fourth quarter valued at $40,226,000. Northern Trust Corp lifted its stake in shares of Southern Copper by 44.9% in 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 buying an additional 355,013 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Southern Copper by 49.6% in the fourth quarter. Marshall Wace LLP now owns 998,923 shares of the basic materials company's stock valued at $91,032,000 after buying an additional 331,319 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Southern Copper in the first quarter valued at $25,739,000. Finally, Driehaus Capital Management LLC lifted its stake in shares of Southern Copper by 26.8% in the fourth quarter. Driehaus Capital Management LLC now owns 1,028,848 shares of the basic materials company's stock valued at $93,759,000 after buying an additional 217,546 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SCCO has been the topic of a number of recent research reports. 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. 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. 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. Wall Street Zen lowered shares of Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, 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. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $91.00.

Southern Copper Stock Performance

Shares of SCCO stock opened at $97.60 on Friday. The firm has a market cap of $78.48 billion, a price-to-earnings ratio of 21.36, a P/E/G ratio of 1.45 and a beta of 1.00. 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 52 week low of $74.84 and a 52 week high of $121.44. The firm's 50-day simple moving average is $98.11 and its two-hundred day simple moving average is $93.82.

Southern Copper Increases Dividend

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

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of Southern Copper stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $100.00, for a total value of $41,400.00. Following the sale, the director owned 2,327 shares of the company's stock, valued at approximately $232,700. The trade was a 15.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.07% of the company's stock.

About Southern Copper

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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