Southern Copper Corporation $SCCO Shares Acquired by Jeppson Wealth Management LLC

Key Points

• Jeppson Wealth Management LLC increased its holdings in Southern Copper Corporation (SCCO) by 76.1%, acquiring an additional 2,721 shares, bringing its total to 6,295 shares valued at approximately $637,000.
• Southern Copper has recently increased its quarterly dividend to $1.01 per share, up from $0.62, resulting in an annualized yield of 3.4%.
• Various analysts have mixed ratings on Southern Copper, with Morgan Stanley reaffirming an "underweight" rating and a price target increase to $99.00, while UBS maintains a "buy" rating.

Jeppson Wealth Management LLC grew its holdings in Southern Copper Corporation (NYSE:SCCO - Free Report) by 76.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,295 shares of the basic materials company's stock after acquiring an additional 2,721 shares during the period. Jeppson Wealth Management LLC's holdings in Southern Copper were worth $637,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of SCCO. JPMorgan Chase & Co. lifted its position in shares of Southern Copper by 26.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,551,878 shares of the basic materials company's stock worth $145,039,000 after purchasing an additional 322,935 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Southern Copper by 3.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,398,651 shares of the basic materials company's stock worth $130,718,000 after purchasing an additional 44,014 shares during the last quarter. Driehaus Capital Management LLC lifted its position in shares of Southern Copper by 2.9% during the 1st quarter. Driehaus Capital Management LLC now owns 1,059,080 shares of the basic materials company's stock worth $98,982,000 after purchasing an additional 30,232 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Southern Copper by 5.3% during the 1st quarter. Ameriprise Financial Inc. now owns 915,147 shares of the basic materials company's stock worth $85,595,000 after purchasing an additional 45,691 shares during the last quarter. Finally, Empower Advisory Group LLC lifted its position in shares of Southern Copper by 17.0% during the 1st quarter. Empower Advisory Group LLC now owns 904,224 shares of the basic materials company's stock worth $84,509,000 after purchasing an additional 131,156 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company's stock.

Insider Buying and Selling

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $232,700. The trade was a 15.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 1,228 shares of company stock worth $123,102 over the last quarter. 0.07% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Morgan Stanley reaffirmed an "underweight" rating and set a $99.00 price objective (up from $86.00) on shares of Southern Copper in a research report on Tuesday, July 15th. UBS Group reaffirmed a "buy" rating on shares of Southern Copper in a research report on Friday, September 19th. The Goldman Sachs Group set a $89.00 price target on shares of Southern Copper and gave the stock a "sell" rating in a research note on Wednesday, September 17th. JPMorgan Chase & Co. lifted their price target on shares of Southern Copper from $79.00 to $92.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 3rd. Finally, Itau BBA Securities upgraded shares of Southern Copper from an "underperform" rating to a "market perform" rating in a research note on Wednesday, June 11th. Four investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Southern Copper has a consensus rating of "Reduce" and a consensus price target of $93.67.

Southern Copper Trading Up 8.4%

Shares of Southern Copper stock opened at $119.50 on Thursday. Southern Copper Corporation has a 52-week low of $74.84 and a 52-week high of $121.49. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.67. The company's 50-day simple moving average is $99.68 and its 200-day simple moving average is $95.58. The firm has a market cap of $96.09 billion, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of 1.63 and a beta of 0.99.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were 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 yield of 3.4%. The ex-dividend date of this dividend was Friday, August 15th. Southern Copper's payout ratio is presently 70.02%.

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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