LPL Financial LLC Acquires 12,531 Shares of Southern Copper Corporation (NYSE:SCCO)

LPL Financial LLC raised its holdings in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 9.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 148,380 shares of the basic materials company's stock after acquiring an additional 12,531 shares during the period. LPL Financial LLC's holdings in Southern Copper were worth $13,868,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SCCO. Capital World Investors grew its holdings in shares of Southern Copper by 0.6% in the fourth quarter. Capital World Investors now owns 4,232,245 shares of the basic materials company's stock worth $385,684,000 after purchasing an additional 24,787 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Southern Copper by 0.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,700,844 shares of the basic materials company's stock worth $337,260,000 after purchasing an additional 15,037 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Southern Copper by 10.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,354,637 shares of the basic materials company's stock worth $123,448,000 after purchasing an additional 130,710 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Southern Copper by 6.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,280,286 shares of the basic materials company's stock valued at $116,672,000 after acquiring an additional 78,769 shares in the last quarter. Finally, FIL Ltd boosted its holdings in Southern Copper by 0.3% in the fourth quarter. FIL Ltd now owns 1,171,227 shares of the basic materials company's stock valued at $106,734,000 after acquiring an additional 3,045 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors.

Southern Copper Stock Performance

NYSE SCCO opened at $95.23 on Thursday. The stock's fifty day moving average is $97.50 and its two-hundred day moving average is $93.77. The firm has a market capitalization of $75.82 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 1.36 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 fifty-two week low of $74.84 and a fifty-two week high of $121.44.

Southern Copper Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. UBS Group cut shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price target on the stock. in a report on Tuesday, July 1st. JPMorgan Chase & Co. cut their price target on shares of Southern Copper from $83.50 to $79.00 and set a "neutral" rating on the stock in a report on Thursday, July 3rd. Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 24th. Itau BBA Securities raised Southern Copper from an "underperform" rating to a "market perform" rating in a research report on Wednesday, June 11th. Finally, Wall Street Zen lowered Southern Copper from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, Southern Copper presently has an average rating of "Hold" and an average price target of $91.00.

Southern Copper 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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