Southern Copper Corporation $SCCO Holdings Raised by Lbp Am Sa

Key Points

• Lbp Am Sa has increased its stake in Southern Copper Corporation by 34.2% during the second quarter, now holding shares worth approximately $3.66 million.
• Southern Copper recently raised its quarterly dividend to $1.01, translating to an annual yield of 3.2%, up from the previous $0.62.
• The company's stock has a current price of $125.41, with a market cap of $100.84 billion, displaying significant volatility as it has fluctuated between a low of $74.84 and a high of $125.58 over the past year.

Lbp Am Sa grew its stake in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 34.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,163 shares of the basic materials company's stock after purchasing an additional 9,212 shares during the period. Lbp Am Sa's holdings in Southern Copper were worth $3,659,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Generali Investments CEE investicni spolecnost a.s. lifted its holdings in shares of Southern Copper by 1.0% during the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 15,226 shares of the basic materials company's stock valued at $1,540,000 after purchasing an additional 149 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. lifted its stake in Southern Copper by 3.5% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 45,954 shares of the basic materials company's stock worth $4,649,000 after acquiring an additional 1,534 shares in the last quarter. Uncommon Cents Investing LLC purchased a new stake in Southern Copper in the 2nd quarter worth about $356,000. ORG Wealth Partners LLC lifted its stake in Southern Copper by 13.2% in the 2nd quarter. ORG Wealth Partners LLC now owns 15,164 shares of the basic materials company's stock worth $1,550,000 after acquiring an additional 1,769 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Southern Copper by 8.8% in the 2nd quarter. Signaturefd LLC now owns 8,552 shares of the basic materials company's stock worth $865,000 after acquiring an additional 695 shares in the last quarter. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Stock Performance

Shares of SCCO stock opened at $125.41 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.27 and a quick ratio of 4.51. Southern Copper Corporation has a fifty-two week low of $74.84 and a fifty-two week high of $125.58. The stock's 50-day moving average is $102.38 and its two-hundred day moving average is $96.77. The firm has a market cap of $100.84 billion, a P/E ratio of 27.44, a PEG ratio of 1.25 and a beta of 1.02.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 15th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, August 15th. This is an increase from Southern Copper's previous quarterly dividend of $0.62. Southern Copper's payout ratio is currently 70.02%.

Analyst Ratings Changes

SCCO has been the subject of several research analyst reports. The Goldman Sachs Group set a $89.00 price objective on Southern Copper and gave the stock a "sell" rating in a research note on Wednesday, September 17th. JPMorgan Chase & Co. increased their price objective on Southern Copper from $79.00 to $92.00 and gave the stock 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. 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. Finally, UBS Group reissued a "buy" rating on shares of Southern Copper in a research note on Friday, September 19th. Four research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $92.40.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 414 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $100.00, for a total transaction of $41,400.00. Following the transaction, the director owned 2,327 shares of the company's stock, valued at approximately $232,700. This represents a 15.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 1,228 shares of company stock worth $123,102. Corporate 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.

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