Quantbot Technologies LP lifted its position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 42.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 121,212 shares of the basic materials company's stock after purchasing an additional 35,948 shares during the quarter. Quantbot Technologies LP's holdings in Southern Copper were worth $11,328,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of SCCO. Envestnet Asset Management Inc. grew its holdings in shares of Southern Copper by 2.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 27,948 shares of the basic materials company's stock worth $2,547,000 after purchasing an additional 745 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Southern Copper during the 4th quarter worth about $8,420,000. Sterling Capital Management LLC grew its holdings in shares of Southern Copper by 8.5% during the 4th quarter. Sterling Capital Management LLC now owns 3,700 shares of the basic materials company's stock worth $337,000 after purchasing an additional 291 shares during the period. Barclays PLC grew its holdings in shares of Southern Copper by 5.6% during the 4th quarter. Barclays PLC now owns 50,809 shares of the basic materials company's stock worth $4,629,000 after purchasing an additional 2,708 shares during the period. Finally, Mariner LLC grew its holdings in shares of Southern Copper by 8.1% during the 4th quarter. Mariner LLC now owns 42,210 shares of the basic materials company's stock worth $3,847,000 after purchasing an additional 3,151 shares during the period. Hedge funds and other institutional investors own 7.94% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. UBS Group cut Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 target price for the company. in a report on Tuesday, July 1st. Morgan Stanley reiterated an "underweight" rating and set a $99.00 target price (up previously from $86.00) on shares of Southern Copper in a report on Tuesday, July 15th. Itau BBA Securities upgraded Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. Hsbc Global Res upgraded Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. decreased their price target on Southern Copper from $83.50 to $79.00 and set a "neutral" rating for the company in a report on Thursday, July 3rd. Four research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $91.00.
Check Out Our Latest Report on SCCO
Southern Copper Stock Up 0.0%
Shares of Southern Copper stock traded up $0.0440 on Thursday, hitting $93.7440. 887,735 shares of the company's stock traded hands, compared to its average volume of 1,429,280. The stock has a market cap of $75.38 billion, a P/E ratio of 20.51, a PEG ratio of 1.38 and a beta of 1.00. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.67. The firm's 50-day moving average is $97.98 and its 200 day moving average is $93.92. Southern Copper Corporation has a 52-week low of $74.84 and a 52-week high of $121.44.
Southern Copper Increases Dividend
The firm also recently announced a -- dividend, which will be paid on Thursday, September 4th. Stockholders 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 dividend yield of 270.0%. Southern Copper's dividend payout ratio (DPR) is currently 70.02%.
Insider Activity at Southern Copper
In other 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 directly owned 2,327 shares in the company, valued at approximately $232,700. This represents a 15.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.07% of the company's stock.
About Southern Copper
(
Free Report)
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.
Further Reading
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