Southern Copper Corporation (NYSE:SCCO) Shares Purchased by Klein Pavlis & Peasley Financial Inc.

Key Points

• Klein Pavlis & Peasley Financial Inc. increased its stake in Southern Copper Corporation by 11.5%, owning 44,420 shares valued at approximately $4.17 million.
• Research analysts have recently dropped ratings on Southern Copper, with UBS Group downgrading it to "neutral" and several others adjusting their price targets.
• The company announced a new dividend of $1.01 per share, reflecting a significant increase from its previous dividend and implying a yield of 270.0%.

Klein Pavlis & Peasley Financial Inc. lifted its stake in Southern Copper Corporation (NYSE:SCCO - Free Report) by 11.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,420 shares of the basic materials company's stock after acquiring an additional 4,583 shares during the quarter. Southern Copper makes up 3.0% of Klein Pavlis & Peasley Financial Inc.'s portfolio, making the stock its 9th biggest holding. Klein Pavlis & Peasley Financial Inc.'s holdings in Southern Copper were worth $4,170,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. lifted its stake in shares of Southern Copper by 117.6% in the first quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company's stock worth $25,000 after buying an additional 147 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Southern Copper in the first quarter valued at about $29,000. N.E.W. Advisory Services LLC bought a new position in shares of Southern Copper in the first quarter worth about $34,000. IFP Advisors Inc grew its holdings in Southern Copper by 53.7% in the 1st quarter. IFP Advisors Inc now owns 733 shares of the basic materials company's stock valued at $69,000 after buying an additional 256 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Southern Copper by 35.2% in 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 during the period. Institutional investors and hedge funds own 7.94% of the company's stock.

Analyst Upgrades and Downgrades

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

Southern Copper Price Performance

Shares of SCCO stock traded up $1.42 during trading hours on Monday, reaching $93.08. 1,012,762 shares of the company were exchanged, compared to its average volume of 1,856,901. 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 company has a market cap of $74.11 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 1.32 and a beta of 1.00. The stock's fifty day moving average is $97.39 and its two-hundred day moving average is $93.78. 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 declared a -- dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a $1.01 dividend. This is a positive change from Southern Copper's previous -- dividend of $0.62. This represents a 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.