Southern Copper Corporation $SCCO Position Boosted by Vident Advisory LLC

Key Points

• Vident Advisory LLC boosted its holdings in Southern Copper Corporation by 41.1%, acquiring an additional 3,560 shares, bringing their total to 12,229 shares worth approximately $1,143,000.
• Southern Copper recently declared a quarterly dividend of $1.01 per share, a significant increase from the previous dividend of $0.62, reflecting a robust dividend yield of 4.0%.
• Despite the positive growth, analysts show mixed sentiments with Wall Street analysts rating the stock predominantly as "Hold" and "Sell," alongside varying target prices for the stock.

Vident Advisory LLC increased its holdings in Southern Copper Corporation (NYSE:SCCO - Free Report) by 41.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,229 shares of the basic materials company's stock after buying an additional 3,560 shares during the quarter. Vident Advisory LLC's holdings in Southern Copper were worth $1,143,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Teacher Retirement System of Texas bought a new stake in Southern Copper during the first quarter worth approximately $2,637,000. Golden State Wealth Management LLC bought a new stake in Southern Copper during the first quarter worth approximately $29,000. Oppenheimer & Co. Inc. bought a new stake in Southern Copper during the first quarter worth approximately $337,000. GAMMA Investing LLC raised its holdings in Southern Copper by 35.2% during the first quarter. GAMMA Investing LLC now owns 906 shares of the basic materials company's stock worth $85,000 after purchasing an additional 236 shares in the last quarter. Finally, Novem Group raised its holdings in Southern Copper by 34.4% during the first quarter. Novem Group now owns 10,758 shares of the basic materials company's stock worth $1,005,000 after purchasing an additional 2,754 shares in the last quarter. 7.94% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 414 shares of the business's stock in a transaction that occurred 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 sale, the director owned 2,327 shares in the company, valued at $232,700. The trade was a 15.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by corporate insiders.

Southern Copper Trading Up 3.8%

Shares of NYSE:SCCO opened at $100.91 on Thursday. The stock has a market capitalization of $81.14 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 1.41 and a beta of 0.99. Southern Copper Corporation has a 1-year low of $74.84 and a 1-year high of $121.44. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.51 and a current ratio of 5.27. The company has a 50 day moving average price of $98.26 and a 200 day moving average price of $94.07.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.01 per share. 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%. The ex-dividend date is Friday, August 15th. Southern Copper's dividend payout ratio (DPR) is presently 70.02%.

Wall Street Analysts Forecast Growth

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

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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