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

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Generali Investments CEE investicni spolecnost a.s. grew its position 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 worth $1,409,000 after acquiring an additional 108 shares during the last quarter. Balefire LLC grew its position in Southern Copper by 3.0% during the 1st quarter. Balefire LLC now owns 4,779 shares of the basic materials company's stock worth $447,000 after acquiring an additional 141 shares during the last quarter. HB Wealth Management LLC grew its position in Southern Copper by 6.4% during the 1st quarter. HB Wealth Management LLC now owns 2,377 shares of the basic materials company's stock worth $222,000 after acquiring an additional 142 shares during the last quarter. Centerstone Investors LLC grew its position in Southern Copper by 0.6% during the 4th quarter. Centerstone Investors LLC now owns 23,438 shares of the basic materials company's stock worth $2,136,000 after acquiring an additional 143 shares during the last quarter. Finally, Sava Infond d.o.o. grew its position in Southern Copper by 0.7% during the 1st quarter. Sava Infond d.o.o. now owns 20,197 shares of the basic materials company's stock worth $1,888,000 after acquiring an additional 144 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 414 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director owned 2,327 shares in the company, valued at $232,700. This trade represents a 15.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 1,028 shares of company stock valued at $102,014. Company insiders own 0.07% of the company's stock.

Southern Copper Stock Down 3.3%

Shares of SCCO traded down $3.42 on Tuesday, reaching $99.97. The stock had a trading volume of 1,909,730 shares, compared to its average volume of 958,950. The firm has a market capitalization of $80.38 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.51 and a current ratio of 5.27. The company has a 50-day simple moving average of $98.20 and a 200-day simple moving average of $94.21. Southern Copper Corporation has a 12-month low of $74.84 and a 12-month high of $121.44.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 15th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Friday, August 15th. This is a boost from Southern Copper's previous quarterly dividend of $0.62. Southern Copper's dividend payout ratio (DPR) is 70.02%.

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.