Southern Copper Corporation $SCCO Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its holdings in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 467,456 shares of the basic materials company's stock after buying an additional 5,892 shares during the quarter. Dimensional Fund Advisors LP owned 0.06% of Southern Copper worth $80,372,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Savvy Advisors Inc. acquired a new stake in Southern Copper in the 4th quarter worth about $1,434,000. Oak Harvest Investment Services bought a new stake in Southern Copper in the 4th quarter valued at about $7,650,000. California Public Employees Retirement System grew its position in shares of Southern Copper by 21.2% during the 1st quarter. California Public Employees Retirement System now owns 192,523 shares of the basic materials company's stock worth $33,126,000 after purchasing an additional 33,638 shares in the last quarter. US Bancorp DE increased its holdings in shares of Southern Copper by 16.2% during the fourth quarter. US Bancorp DE now owns 74,484 shares of the basic materials company's stock worth $10,687,000 after purchasing an additional 10,360 shares during the period. Finally, RFG Advisory LLC bought a new position in shares of Southern Copper during the fourth quarter worth approximately $1,147,000. Institutional investors and hedge funds own 7.94% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SCCO. The Goldman Sachs Group raised Southern Copper from a "sell" rating to a "neutral" rating and set a $178.00 price objective for the company in a report on Friday, April 10th. Scotiabank restated an "underperform" rating and issued a $140.00 price target (up from $135.00) on shares of Southern Copper in a research report on Monday, June 15th. Barclays set a $166.00 price target on Southern Copper and gave the company an "underweight" rating in a research note on Thursday, July 23rd. Weiss Ratings raised shares of Southern Copper from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Southern Copper from $127.00 to $131.50 and gave the stock an "underweight" rating in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and seven have assigned 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 $148.60.

Southern Copper Trading Up 5.4%

Shares of SCCO stock opened at $184.95 on Friday. Southern Copper Corporation has a fifty-two week low of $89.87 and a fifty-two week high of $223.88. The stock's fifty day moving average price is $181.24 and its two-hundred day moving average price is $184.13. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38. The company has a market cap of $152.78 billion, a PE ratio of 27.04, a P/E/G ratio of 1.51 and a beta of 1.11.

Southern Copper shares are going to split on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly issued shares will be distributed to shareholders after the closing bell on Monday, August 10th.

Southern Copper (NYSE:SCCO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.06. The business had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.37 billion. Southern Copper had a return on equity of 50.74% and a net margin of 35.87%.The firm's quarterly revenue was up 40.6% on a year-over-year basis. Equities analysts predict that Southern Copper Corporation will post 7.63 EPS for the current fiscal year.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from Southern Copper's previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Tuesday, August 11th. Southern Copper's dividend payout ratio (DPR) is currently 58.48%.

Insider Buying and Selling at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00. Following the sale, the director directly owned 1,807 shares of the company's stock, valued at approximately $321,320.74. The trade was a 9.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 504 shares of company stock valued at $92,008. Company insiders own 0.07% of the company's stock.

Southern Copper Company Profile

Southern Copper Corporation NYSE: SCCO is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper's operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.

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