Regal Partners Ltd Takes $3.20 Million Position in Southern Copper Corporation (NYSE:SCCO)

Key Points

• Regal Partners Ltd has acquired a stake in Southern Copper Corporation valued at approximately $3.20 million, which accounts for about 0.3% of Regal's investment portfolio.
• Southern Copper recently announced an increased dividend of $1.01 per share, representing a significant yield of 270.0% compared to the previous dividend of $0.62.
• Analysts have varied opinions on Southern Copper, with some downgrading their ratings and adjusting price targets, leading to a consensus rating of "Hold" with an average target price of $91.00.

Regal Partners Ltd acquired a new stake in Southern Copper Corporation (NYSE:SCCO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,222 shares of the basic materials company's stock, valued at approximately $3,198,000. Southern Copper accounts for about 0.3% of Regal Partners Ltd's investment portfolio, making the stock its 28th biggest position.

Several other large investors also recently modified their holdings of the stock. Teacher Retirement System of Texas acquired a new stake in shares of Southern Copper during the 1st quarter worth approximately $2,637,000. Golden State Wealth Management LLC acquired a new stake in shares of Southern Copper in the 1st quarter valued at $29,000. Oppenheimer & Co. Inc. bought a new position in shares of Southern Copper in the 1st quarter valued at $337,000. GAMMA Investing LLC raised its holdings 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 worth $85,000 after buying an additional 236 shares in the last quarter. Finally, Novem Group raised its holdings in shares of Southern Copper by 34.4% during the 1st quarter. Novem Group now owns 10,758 shares of the basic materials company's stock worth $1,005,000 after buying an additional 2,754 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

Southern Copper Trading Up 2.2%

SCCO opened at $98.22 on Wednesday. Southern Copper Corporation has a fifty-two week low of $74.84 and a fifty-two week high of $121.44. 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 firm has a market capitalization of $78.98 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 1.40 and a beta of 1.00. The company's 50 day moving average price is $97.97 and its two-hundred day moving average price is $93.76.

Southern Copper Increases Dividend

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

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were 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 in the company, valued at approximately $232,700. This trade represents a 15.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on SCCO shares. Wall Street Zen lowered Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. decreased 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. Morgan Stanley reaffirmed an "underweight" rating and set a $99.00 price target (up from $86.00) on shares of Southern Copper in a report on Tuesday, July 15th. Hsbc Global Res raised shares of Southern Copper from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 24th. Finally, Itau BBA Securities raised shares of Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $91.00.

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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