Southern Copper Corporation (NYSE:SCCO) Shares Acquired by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its position in Southern Copper Corporation by 102.2%, acquiring an additional 9,499 shares and bringing its total holdings to 18,792 shares valued at approximately $1.76 million.
• Southern Copper declared a dividend of $1.01 per share, up from the previous $0.62, representing a dividend yield of 270.0%.
• Wall Street analysts have mixed opinions on Southern Copper, with a consensus rating of "Hold" and a price target ranging from $79.00 to $105.00.

Townsquare Capital LLC grew its position in Southern Copper Corporation (NYSE:SCCO - Free Report) by 102.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,792 shares of the basic materials company's stock after acquiring an additional 9,499 shares during the quarter. Townsquare Capital LLC's holdings in Southern Copper were worth $1,756,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SCCO. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Southern Copper during the fourth quarter worth approximately $40,226,000. Northern Trust Corp raised its stake in shares of Southern Copper by 44.9% during the fourth quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company's stock worth $104,484,000 after purchasing an additional 355,013 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Southern Copper by 49.6% during the fourth quarter. Marshall Wace LLP now owns 998,923 shares of the basic materials company's stock worth $91,032,000 after purchasing an additional 331,319 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Southern Copper during the first quarter worth approximately $25,739,000. Finally, Driehaus Capital Management LLC raised its stake in shares of Southern Copper by 26.8% during the fourth quarter. Driehaus Capital Management LLC now owns 1,028,848 shares of the basic materials company's stock worth $93,759,000 after purchasing an additional 217,546 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.

Insider Buying and Selling at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 414 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $100.00, for a total value of $41,400.00. Following the completion of the transaction, the director owned 2,327 shares in the company, valued at $232,700. This trade represents a 15.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on SCCO. Morgan Stanley restated an "underweight" rating and set a $99.00 price target (up previously from $86.00) on shares of Southern Copper in a research note on Tuesday, July 15th. Itau BBA Securities upgraded Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. Wall Street Zen downgraded Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. decreased their target price on shares of Southern Copper from $83.50 to $79.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. Finally, UBS Group downgraded shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price target for the company. in a report on Tuesday, July 1st. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $91.00.

Southern Copper Trading Up 2.2%

Shares of Southern Copper stock opened at $98.22 on Wednesday. Southern Copper Corporation has a 12-month low of $74.84 and a 12-month high of $121.44. The company has a current ratio of 5.27, a quick ratio of 4.51 and a debt-to-equity ratio of 0.67. The stock has a market cap of $78.98 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 1.40 and a beta of 1.00. The company has a 50-day moving average of $97.97 and a two-hundred day moving average of $93.76.

Southern Copper Increases Dividend

The company also recently declared a -- dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a $1.01 dividend. This is an increase from Southern Copper's previous -- dividend of $0.62. This represents a dividend yield of 270.0%. The ex-dividend date is Friday, August 15th. Southern Copper's dividend payout ratio (DPR) is 61.27%.

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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