Uncommon Cents Investing LLC Makes New $356,000 Investment in Southern Copper Corporation $SCCO

Key Points

• Uncommon Cents Investing LLC has made a new investment of approximately $356,000 in Southern Copper Corporation by acquiring 3,516 shares during the second quarter.
• Southern Copper recently increased its quarterly dividend from $0.62 to $1.01, representing an annualized dividend of $4.04 with a yield of 3.4%.
• Despite positive news, analysts are divided on Southern Copper, with Morgan Stanley maintaining an "underweight" rating and a price target of $99.00, while UBS Group has reaffirmed a "buy" rating.

Uncommon Cents Investing LLC acquired a new position in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,516 shares of the basic materials company's stock, valued at approximately $356,000.

Several other hedge funds and other institutional investors have also modified their holdings of SCCO. Cullen Frost Bankers Inc. boosted its holdings in shares of Southern Copper by 117.6% in the 1st quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company's stock valued at $25,000 after buying an additional 147 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Southern Copper in the 1st quarter valued at about $29,000. N.E.W. Advisory Services LLC acquired a new position in shares of Southern Copper in the 1st quarter valued at about $34,000. Quarry LP acquired a new position in shares of Southern Copper in the 1st quarter valued at about $41,000. Finally, Twin Tree Management LP boosted its stake in Southern Copper by 583.5% during the 1st quarter. Twin Tree Management LP now owns 622 shares of the basic materials company's stock valued at $58,000 after purchasing an additional 531 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Trading Down 0.7%

Shares of SCCO stock opened at $117.12 on Monday. The firm has a fifty day moving average of $100.52 and a 200-day moving average of $96.05. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.51 and a current ratio of 5.27. Southern Copper Corporation has a 52-week low of $74.84 and a 52-week high of $121.49. The stock has a market cap of $94.17 billion, a price-to-earnings ratio of 25.63, a P/E/G ratio of 1.73 and a beta of 0.99.

Southern Copper Increases Dividend

The firm 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 is a boost from Southern Copper's previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, August 15th. This represents a $4.04 annualized dividend and a dividend yield of 3.4%. Southern Copper's payout ratio is 70.02%.

Analyst Ratings Changes

A number of research firms have commented on SCCO. Morgan Stanley restated an "underweight" rating and set a $99.00 price target (up from $86.00) on shares of Southern Copper in a research report on Tuesday, July 15th. The Goldman Sachs Group set a $89.00 price target on shares of Southern Copper and gave the company a "sell" rating in a report on Wednesday, September 17th. Itau BBA Securities upgraded shares of Southern Copper from an "underperform" rating to a "market perform" rating in a report on Wednesday, June 11th. UBS Group reaffirmed a "buy" rating on shares of Southern Copper in a research report on Friday, September 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Southern Copper from $79.00 to $92.00 and gave the company a "neutral" rating in a research report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $93.67.

Insider Activity

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $100.00, for a total value of $41,400.00. Following the sale, the director directly owned 2,327 shares in the company, valued at $232,700. This trade represents a 15.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 1,228 shares of company stock valued at $123,102. 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.

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