Scientech Research LLC Increases Stock Position in Southern Copper Corporation $SCCO

Scientech Research LLC grew its holdings in Southern Copper Corporation (NYSE:SCCO - Free Report) by 245.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,613 shares of the basic materials company's stock after purchasing an additional 6,833 shares during the quarter. Scientech Research LLC's holdings in Southern Copper were worth $898,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. NewEdge Advisors LLC raised its position in shares of Southern Copper by 0.7% during the 1st quarter. NewEdge Advisors LLC now owns 52,113 shares of the basic materials company's stock valued at $4,870,000 after buying an additional 350 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Southern Copper by 3.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,398,651 shares of the basic materials company's stock valued at $130,718,000 after buying an additional 44,014 shares during the period. Ion Asset Management Ltd. raised its position in shares of Southern Copper by 17.5% during the 1st quarter. Ion Asset Management Ltd. now owns 5,948 shares of the basic materials company's stock valued at $556,000 after buying an additional 888 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Southern Copper during the 1st quarter valued at approximately $40,338,000. Finally, Greenline Partners LLC raised its position in shares of Southern Copper by 4.0% during the 1st quarter. Greenline Partners LLC now owns 97,864 shares of the basic materials company's stock valued at $9,146,000 after buying an additional 3,795 shares during the period. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Stock Up 2.1%

Shares of NYSE:SCCO traded up $2.10 during trading on Wednesday, hitting $102.01. The company's stock had a trading volume of 1,094,199 shares, compared to its average volume of 1,006,539. The business has a 50 day moving average price of $98.12 and a two-hundred day moving average price of $94.26. The company has a market capitalization of $82.03 billion, a PE ratio of 22.32, a P/E/G ratio of 1.42 and a beta of 0.99. 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 announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were paid a dividend of $1.01 per share. The ex-dividend date was Friday, August 15th. This is an increase from Southern Copper's previous quarterly dividend of $0.62. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.0%. Southern Copper's payout ratio is presently 70.02%.

Analyst Ratings Changes

SCCO has been the subject of several research reports. Itau BBA Securities upgraded shares of Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. Wall Street Zen downgraded shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Morgan Stanley reiterated an "underweight" rating and issued a $99.00 target price (up previously from $86.00) on shares of Southern Copper in a report on Tuesday, July 15th. UBS Group downgraded shares of 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. Finally, JPMorgan Chase & Co. lifted their target price on shares of Southern Copper from $79.00 to $92.00 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. Four investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $93.60.

Insider Activity at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of the business's stock in a transaction 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. The trade was a 15.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 1,028 shares of company stock worth $102,014 in the last three months. Insiders own 0.07% of the company's stock.

About Southern Copper

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.