Robeco Institutional Asset Management B.V. Acquires 4,865 Shares of Southern Copper Corporation $SCCO

Key Points

• Robeco Institutional Asset Management B.V. increased its stake in Southern Copper Corporation (SCCO) by 2.7%, acquiring an additional 4,865 shares, bringing its total holdings to 184,110 shares valued at approximately $18.63 million.
• Southern Copper recently announced a quarterly dividend of $1.01, reflecting an increase from the previous dividend of $0.62, resulting in an annualized yield of 3.1%.
• Wall Street analysts have mixed ratings for Southern Copper, with one "buy," four "hold," and three "sell" ratings, leading to a consensus target price of $92.40.

Robeco Institutional Asset Management B.V. lifted its stake in Southern Copper Corporation (NYSE:SCCO - Free Report) by 2.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,110 shares of the basic materials company's stock after purchasing an additional 4,865 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Southern Copper were worth $18,626,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SCCO. Cullen Frost Bankers Inc. grew its holdings in Southern Copper by 117.6% during the first quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 147 shares during the period. 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 bought a new position in shares of Southern Copper during the 1st quarter valued at approximately $34,000. Quarry LP bought a new position in shares of Southern Copper during the 1st quarter valued at approximately $41,000. Finally, Twin Tree Management LP increased its holdings in Southern Copper by 583.5% in the 1st quarter. Twin Tree Management LP now owns 622 shares of the basic materials company's stock worth $58,000 after acquiring an additional 531 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SCCO. The Goldman Sachs Group set a $89.00 price target on shares of Southern Copper and gave the company a "sell" rating in a report on Wednesday, September 17th. UBS Group restated a "buy" rating on shares of Southern Copper in a research note on Friday, September 19th. Itau BBA Securities raised shares of Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. Weiss Ratings reissued a "buy (b-)" rating on shares of Southern Copper in a report on Saturday, September 27th. Finally, JPMorgan Chase & Co. boosted their price objective on Southern Copper from $79.00 to $92.00 and gave the company a "neutral" rating in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $92.40.

Insider Activity at Southern Copper

In related 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 of the company's stock, valued at approximately $232,700. This represents a 15.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 1,228 shares of company stock valued at $123,102 in the last quarter. 0.07% of the stock is currently owned by insiders.

Southern Copper Stock Performance

SCCO opened at $128.46 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.51 and a current ratio of 5.27. The stock has a market capitalization of $103.29 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.31 and a beta of 1.02. The company has a fifty day moving average of $102.99 and a 200 day moving average of $96.95. Southern Copper Corporation has a fifty-two week low of $74.84 and a fifty-two week high of $129.83.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 15th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.1%. This is a positive change from Southern Copper's previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, August 15th. Southern Copper's payout ratio is presently 70.02%.

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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