Southern Copper Corporation $SCCO Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Southern Copper Corporation by 3.2%, owning approximately 1,398,651 shares worth $130.7 million as of its latest SEC filing.
• Southern Copper declared a quarterly dividend of $1.01 per share, an increase from the previous dividend of $0.62, representing an annualized yield of 4.0%.
• Analysts show a mixed outlook for Southern Copper, with ratings ranging from buy to sell, and an average price target of $93.60, reflecting varied sentiments in the market.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,398,651 shares of the basic materials company's stock after purchasing an additional 44,014 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.18% of Southern Copper worth $130,718,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SCCO. Generali Investments CEE investicni spolecnost a.s. lifted its stake in Southern Copper by 0.7% during the 1st quarter. Generali Investments CEE investicni spolecnost a.s. now owns 15,077 shares of the basic materials company's stock valued at $1,409,000 after acquiring an additional 108 shares during the period. Balefire LLC boosted its holdings in Southern Copper by 3.0% during the first quarter. Balefire LLC now owns 4,779 shares of the basic materials company's stock worth $447,000 after buying an additional 141 shares in the last quarter. HB Wealth Management LLC boosted its holdings in Southern Copper by 6.4% during the first quarter. HB Wealth Management LLC now owns 2,377 shares of the basic materials company's stock worth $222,000 after buying an additional 142 shares in the last quarter. Centerstone Investors LLC boosted its holdings in Southern Copper by 0.6% during the fourth quarter. Centerstone Investors LLC now owns 23,438 shares of the basic materials company's stock worth $2,136,000 after buying an additional 143 shares in the last quarter. Finally, Sava Infond d.o.o. boosted its holdings in Southern Copper by 0.7% during the first quarter. Sava Infond d.o.o. now owns 20,197 shares of the basic materials company's stock worth $1,888,000 after buying an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company's stock.

Wall Street Analyst Weigh In

SCCO has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Itau BBA Securities raised shares of Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. Morgan Stanley reissued an "underweight" rating and set a $99.00 price target (up from $86.00) on shares of Southern Copper in a report on Tuesday, July 15th. UBS Group downgraded shares of Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price target on the stock. in a report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of Southern Copper from $79.00 to $92.00 and gave the stock a "neutral" rating in a report on Wednesday. Four equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $93.60.

Southern Copper Price Performance

NYSE:SCCO traded up $2.18 during trading hours on Friday, reaching $103.00. 1,420,345 shares of the company were exchanged, compared to its average volume of 964,809. The company has a current ratio of 5.27, a quick ratio of 4.51 and a debt-to-equity ratio of 0.67. The stock's 50-day moving average is $98.19 and its 200-day moving average is $94.09. The firm has a market cap of $82.82 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99. Southern Copper Corporation has a twelve month low of $74.84 and a twelve month high of $121.44.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 15th were given a dividend of $1.01 per share. This is a boost from Southern Copper's previous quarterly dividend of $0.62. This represents a $4.04 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Friday, August 15th. Southern Copper's dividend payout ratio (DPR) is currently 70.02%.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of the company's 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 completion of the transaction, the director directly owned 2,327 shares in the company, valued at approximately $232,700. This represents a 15.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 1,028 shares of company stock worth $102,014 in the last ninety days. Corporate insiders own 0.07% of the company's stock.

Southern Copper 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.