Southern Copper Corporation (NYSE:SCCO) Shares Bought by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its stake in Southern Copper Corporation by 185.1% in the first quarter, owning a total of 12,600 shares valued at approximately $1.18 million.
• Several institutional investors, including Norges Bank and Renaissance Technologies LLC, significantly boosted their holdings in Southern Copper during the fourth quarter.
• Southern Copper recently announced a dividend increase, now paying $1.01 per share, resulting in a yield of 270.0%, up from the previous dividend of $0.62.

XTX Topco Ltd grew its holdings in shares of Southern Copper Corporation (NYSE:SCCO - Free Report) by 185.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,600 shares of the basic materials company's stock after purchasing an additional 8,180 shares during the quarter. XTX Topco Ltd's holdings in Southern Copper were worth $1,178,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SCCO. Cullen Frost Bankers Inc. lifted its stake in shares of Southern Copper by 117.6% during the 1st quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company's stock worth $25,000 after purchasing an additional 147 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of Southern Copper during the 1st quarter worth $29,000. N.E.W. Advisory Services LLC purchased a new position in shares of Southern Copper during the 1st quarter worth $34,000. IFP Advisors Inc lifted its stake in shares of Southern Copper by 53.7% during the 1st quarter. IFP Advisors Inc now owns 733 shares of the basic materials company's stock worth $69,000 after purchasing an additional 256 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Southern Copper by 35.2% during the 1st quarter. GAMMA Investing LLC now owns 906 shares of the basic materials company's stock worth $85,000 after purchasing an additional 236 shares during the period. Hedge funds and other institutional investors own 7.94% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on SCCO shares. UBS Group lowered Southern Copper from a "buy" rating to a "neutral" rating and set a $105.00 target price on the stock. in a research report on Tuesday, July 1st. Morgan Stanley reaffirmed an "underweight" rating and issued a $99.00 target price (up from $86.00) on shares of Southern Copper in a research report on Tuesday, July 15th. JPMorgan Chase & Co. cut their target price on Southern Copper from $83.50 to $79.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. Hsbc Global Res raised Southern Copper from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 24th. Finally, Itau BBA Securities raised Southern Copper from an "underperform" rating to a "market perform" rating in a research report on Wednesday, June 11th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, Southern Copper has an average rating of "Hold" and a consensus price target of $91.00.

Southern Copper Stock Up 1.5%

NYSE SCCO traded up $1.42 during trading hours on Monday, hitting $93.08. The company had a trading volume of 1,012,762 shares, compared to its average volume of 1,856,901. Southern Copper Corporation has a fifty-two week low of $74.84 and a fifty-two week high of $121.44. The company has a market capitalization of $74.11 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 1.32 and a beta of 1.00. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.27 and a quick ratio of 4.51. The firm's 50 day moving average is $97.39 and its 200 day moving average is $93.78.

Southern Copper Increases Dividend

The business also recently declared a -- dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a $1.01 dividend. The ex-dividend date is Friday, August 15th. This represents a yield of 270.0%. This is an increase from Southern Copper's previous -- dividend of $0.62. Southern Copper's payout ratio is currently 61.27%.

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.