LGT Group Foundation Makes New $544,000 Investment in Southern Copper Corporation (NYSE:SCCO)

Key Points

• LGT Group Foundation invested approximately $544,000 in Southern Copper Corporation by purchasing 5,826 shares in the first quarter, marking a new position in the company.
• Several institutional investors, including Cullen Frost Bankers Inc. and GAMMA Investing LLC, have recently increased their stakes in Southern Copper, indicating growing institutional interest.
• Southern Copper announced a dividend increase to $1.01 per share, up from $0.62, with a yield of 270.0%, signaling strong performance and shareholder returns.

LGT Group Foundation purchased 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 and Exchange Commission. The fund purchased 5,826 shares of the basic materials company's stock, valued at approximately $544,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. raised its stake in shares of Southern Copper by 117.6% during the 1st quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company's stock valued at $25,000 after buying an additional 147 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Southern Copper during the 1st quarter valued at about $29,000. N.E.W. Advisory Services LLC purchased a new position in shares of Southern Copper during the 1st quarter valued at about $34,000. IFP Advisors Inc raised its stake in shares of Southern Copper by 53.7% during the 1st quarter. IFP Advisors Inc now owns 733 shares of the basic materials company's stock valued at $69,000 after buying an additional 256 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake 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 valued at $85,000 after buying an additional 236 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of research firms have weighed in on SCCO. Itau BBA Securities upgraded Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. Morgan Stanley reiterated an "underweight" rating and set 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 lowered Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price objective for the company. in a research note on Tuesday, July 1st. JPMorgan Chase & Co. cut their price target on Southern Copper from $83.50 to $79.00 and set a "neutral" rating for the company in a research note on Thursday, July 3rd. Finally, Wall Street Zen lowered Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $91.00.

Southern Copper Price Performance

Shares of Southern Copper stock opened at $98.22 on Wednesday. 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 Corporation has a twelve month low of $74.84 and a twelve month high of $121.44. The business has a 50-day moving average price of $97.97 and a 200 day moving average price of $93.76. The firm has a market cap of $78.98 billion, a PE ratio of 21.49, a P/E/G ratio of 1.40 and a beta of 1.00.

Southern Copper Increases Dividend

The company also recently disclosed a -- dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a dividend of $1.01 per share. This is an increase from Southern Copper's previous -- dividend of $0.62. The ex-dividend date is Friday, August 15th. This represents a yield of 270.0%. Southern Copper's dividend payout ratio (DPR) is presently 61.27%.

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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