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

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

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SCCO. Cullen Frost Bankers Inc. lifted its position in shares of Southern Copper by 117.6% during the 1st quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company's stock valued at $25,000 after buying an additional 147 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Southern Copper during the 1st quarter valued at approximately $29,000. N.E.W. Advisory Services LLC purchased a new position in shares of Southern Copper during the 1st quarter valued at approximately $34,000. Quarry LP purchased a new position in shares of Southern Copper during the 1st quarter valued at approximately $41,000. Finally, Twin Tree Management LP lifted its position in shares of Southern Copper by 583.5% during the 1st quarter. Twin Tree Management LP now owns 622 shares of the basic materials company's stock valued at $58,000 after buying an additional 531 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.

Analyst Ratings Changes

SCCO has been the subject of several recent research reports. UBS Group downgraded Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price objective for the company. in a research note on Tuesday, July 1st. Wall Street Zen downgraded Southern Copper from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. increased their price objective on Southern Copper from $79.00 to $92.00 and gave the company a "neutral" rating in a research note on Wednesday, September 3rd. Itau BBA Securities raised Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. Finally, Morgan Stanley reissued an "underweight" rating and issued a $99.00 price objective (up from $86.00) on shares of Southern Copper in a research note on Tuesday, July 15th. Four equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Southern Copper currently has a consensus rating of "Reduce" and a consensus target price of $93.60.

Southern Copper Trading Up 1.1%

Shares of NYSE SCCO traded up $1.17 during mid-day trading on Friday, reaching $106.22. 1,606,398 shares of the company's stock were exchanged, compared to its average volume of 1,014,718. The firm has a market capitalization of $85.41 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 1.55 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 52-week low of $74.84 and a 52-week high of $121.44. The company's 50-day moving average is $98.12 and its 200-day moving average is $94.44.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 15th were issued a dividend of $1.01 per share. The ex-dividend date was Friday, August 15th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.8%. This is a boost from Southern Copper's previous quarterly dividend of $0.62. Southern Copper's dividend payout ratio (DPR) is currently 70.02%.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 414 shares of the stock in a transaction 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 document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 1,228 shares of company stock worth $123,102. Corporate insiders own 0.07% of the company's stock.

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.