Temasek Holdings Private Ltd Purchases 26,533 Shares of Southern Copper Corporation $SCCO

Key Points

• Temasek Holdings increased its stake in Southern Copper Corporation by 7.3%, holding 390,949 shares valued at approximately $36.54 million as of the latest SEC filing.
• Southern Copper recently raised its quarterly dividend to $1.01, resulting in an annual yield of 3.9%, up from the previous dividend of $0.62.
• Analysts' ratings for Southern Copper vary, with Wall Street Zen downgrading the stock to a "hold" while JPMorgan raised its price target from $79 to $92.

Temasek Holdings Private Ltd boosted its holdings in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 390,949 shares of the basic materials company's stock after purchasing an additional 26,533 shares during the quarter. Temasek Holdings Private Ltd's holdings in Southern Copper were worth $36,538,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SCCO. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Southern Copper during the 4th quarter valued at approximately $40,226,000. Jacobs Levy Equity Management Inc. acquired a new position in Southern Copper in the 1st quarter valued at approximately $40,338,000. Nuveen LLC acquired a new position in Southern Copper in the 1st quarter valued at approximately $34,086,000. JPMorgan Chase & Co. raised its holdings in Southern Copper by 26.3% in the 1st quarter. JPMorgan Chase & Co. now owns 1,551,878 shares of the basic materials company's stock valued at $145,039,000 after acquiring an additional 322,935 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in Southern Copper in the 1st quarter valued at approximately $25,739,000. Institutional investors own 7.94% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SCCO. Itau BBA Securities raised Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. UBS Group cut Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 price target for the company. in a report on Tuesday, July 1st. Morgan Stanley reaffirmed an "underweight" rating and issued a $99.00 price target (up previously from $86.00) on shares of Southern Copper in a report on Tuesday, July 15th. Wall Street Zen cut Southern Copper from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. upped their price target on Southern Copper from $79.00 to $92.00 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. Four research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Southern Copper has a consensus rating of "Reduce" and a consensus target price of $93.60.

Southern Copper Price Performance

NYSE SCCO traded up $0.57 during trading hours on Friday, reaching $105.62. 945,518 shares of the company's stock were exchanged, compared to its average volume of 1,401,156. The stock has a market cap of $84.92 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 1.51 and a beta of 0.99. Southern Copper Corporation has a one year low of $74.84 and a one year high of $121.44. The firm has a fifty day moving average of $98.11 and a 200-day moving average of $94.34. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 15th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Friday, August 15th. This is a positive change from Southern Copper's previous quarterly dividend of $0.62. Southern Copper's dividend payout ratio is 70.02%.

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 stock was sold at an average price of $100.00, for a total value of $41,400.00. Following the transaction, the director directly owned 2,327 shares in the company, valued at approximately $232,700. This trade represents a 15.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 1,028 shares of company stock valued at $102,014. 0.07% of the stock is currently owned by company insiders.

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.