Southern Copper Corporation $SCCO Shares Bought by Capital Advisors Inc. OK

Key Points

• Capital Advisors Inc. OK increased its stake in Southern Copper Corporation ($SCCO) by 1.3%, owning 277,035 shares worth approximately $28 million as of the latest SEC filing.
• Southern Copper recently raised its quarterly dividend from $0.62 to $1.01 per share, reflecting a dividend yield of 3.1% and a payout ratio of 70.02%.
• Institutional investors hold 7.94% of Southern Copper's stock, with notable recent purchases by Jacobs Levy Equity Management and JPMorgan Chase & Co., which lifted its holdings by 26.3%.

Capital Advisors Inc. OK grew its stake in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 1.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 277,035 shares of the basic materials company's stock after acquiring an additional 3,449 shares during the period. Capital Advisors Inc. OK's holdings in Southern Copper were worth $28,028,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SCCO. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Southern Copper during the 1st quarter valued at $40,338,000. Nuveen LLC purchased a new stake in shares of Southern Copper in the first quarter valued at $34,086,000. JPMorgan Chase & Co. lifted its holdings in shares of Southern Copper by 26.3% in the first quarter. JPMorgan Chase & Co. now owns 1,551,878 shares of the basic materials company's stock valued at $145,039,000 after purchasing an additional 322,935 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of Southern Copper in the first quarter valued at $25,739,000. Finally, Strs Ohio purchased a new stake in shares of Southern Copper in the first quarter valued at $15,382,000. Institutional investors and hedge funds own 7.94% of the company's stock.

Southern Copper Price Performance

Shares of NYSE:SCCO opened at $128.46 on Monday. The company has a current ratio of 5.27, a quick ratio of 4.51 and a debt-to-equity ratio of 0.67. Southern Copper Corporation has a 1 year low of $74.84 and a 1 year high of $129.83. The business has a fifty day simple moving average of $102.99 and a 200 day simple moving average of $96.94. The firm has a market cap of $103.29 billion, a price-to-earnings ratio of 28.11, a P/E/G ratio of 1.31 and a beta of 1.02.

Southern Copper Increases Dividend

The company 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 a positive change from Southern Copper's previous quarterly dividend of $0.62. This represents a $4.04 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, August 15th. Southern Copper's dividend payout ratio is 70.02%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Itau BBA Securities upgraded Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. UBS Group restated a "buy" rating on shares of Southern Copper in a report on Friday, September 19th. The Goldman Sachs Group set a $89.00 target price on Southern Copper and gave the company a "sell" rating in a report on Wednesday, September 17th. Weiss Ratings restated a "buy (b-)" rating on shares of Southern Copper in a report on Saturday, September 27th. Finally, JPMorgan Chase & Co. increased their target price on Southern Copper from $79.00 to $92.00 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $92.40.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of the stock in a transaction 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 transaction, the director directly owned 2,327 shares of the company's stock, valued at $232,700. This represents a 15.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 1,228 shares of company stock worth $123,102 over the last 90 days. Corporate insiders own 0.07% of the company's stock.

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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