Southern Copper Co. (NYSE:SCCO) Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its position in shares of Southern Copper Co. (NYSE:SCCO - Free Report) by 8,523.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 172,907 shares of the basic materials company's stock after purchasing an additional 170,902 shares during the quarter. International Assets Investment Management LLC's holdings in Southern Copper were worth $14,882,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. AE Wealth Management LLC bought a new position in Southern Copper in the third quarter worth approximately $215,000. Commonwealth Equity Services LLC lifted its position in shares of Southern Copper by 4.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 22,268 shares of the basic materials company's stock valued at $1,677,000 after buying an additional 1,030 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of Southern Copper during the 3rd quarter valued at approximately $202,000. Raymond James & Associates lifted its holdings in Southern Copper by 24.6% in the 3rd quarter. Raymond James & Associates now owns 30,523 shares of the basic materials company's stock valued at $2,298,000 after purchasing an additional 6,021 shares in the last quarter. Finally, WESPAC Advisors LLC purchased a new position in Southern Copper in the 3rd quarter valued at $249,000. 7.94% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Bonilla Luis Miguel Palomino sold 300 shares of Southern Copper stock in a transaction on Monday, April 29th. The stock was sold at an average price of $118.50, for a total transaction of $35,550.00. Following the transaction, the director now owns 4,614 shares in the company, valued at $546,759. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 600 shares of company stock worth $63,430 in the last three months. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SCCO has been the topic of several analyst reports. HSBC lowered Southern Copper from a "hold" rating to a "reduce" rating and set a $80.00 price target on the stock. in a report on Monday, April 22nd. JPMorgan Chase & Co. reduced their price objective on Southern Copper from $63.50 to $61.00 and set an "underweight" rating for the company in a research note on Thursday, March 21st. Scotiabank boosted their target price on Southern Copper from $53.00 to $55.00 and gave the company a "sector underperform" rating in a report on Thursday, April 18th. CICC Research started coverage on Southern Copper in a report on Wednesday, April 24th. They set an "outperform" rating on the stock. Finally, Morgan Stanley upped their target price on Southern Copper from $123.00 to $135.00 and gave the company an "underweight" rating in a report on Tuesday, April 30th. Five investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $90.50.

Southern Copper Stock Performance

Southern Copper stock traded up $2.39 during mid-day trading on Friday, hitting $115.41. 1,525,644 shares of the company's stock traded hands, compared to its average volume of 1,506,725. The firm has a 50 day moving average price of $103.14 and a 200 day moving average price of $87.24. The company has a quick ratio of 2.46, a current ratio of 3.31 and a debt-to-equity ratio of 0.82. The company has a market cap of $89.22 billion, a PE ratio of 37.96, a price-to-earnings-growth ratio of 3.25 and a beta of 1.27. Southern Copper Co. has a one year low of $64.66 and a one year high of $121.00.

Southern Copper (NYSE:SCCO - Get Free Report) last issued its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.15). The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.37 billion. Southern Copper had a net margin of 24.20% and a return on equity of 30.44%. On average, equities analysts forecast that Southern Copper Co. will post 4.01 EPS for the current year.

Southern Copper Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Tuesday, May 7th. Southern Copper's payout ratio is 105.26%.

About Southern Copper

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.