Blue Trust Inc. Buys 901 Shares of Southern Copper Corporation $SCCO

Blue Trust Inc. raised its stake in Southern Copper Corporation (NYSE:SCCO) by 69.6% in the second quarter, Holdings Channel reports. The firm owned 2,195 shares of the basic materials company’s stock after acquiring an additional 901 shares during the quarter. Blue Trust Inc.’s holdings in Southern Copper were worth $222,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in Southern Copper by 26.3% in the first quarter. JPMorgan Chase & Co. now owns 1,551,878 shares of the basic materials company’s stock valued at $145,039,000 after purchasing an additional 322,935 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Southern Copper by 3.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,398,651 shares of the basic materials company’s stock valued at $130,718,000 after purchasing an additional 44,014 shares in the last quarter. Driehaus Capital Management LLC grew its stake in Southern Copper by 2.9% in the first quarter. Driehaus Capital Management LLC now owns 1,059,080 shares of the basic materials company’s stock valued at $98,982,000 after purchasing an additional 30,232 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Southern Copper by 5.3% in the first quarter. Ameriprise Financial Inc. now owns 915,147 shares of the basic materials company’s stock valued at $85,595,000 after buying an additional 45,691 shares during the last quarter. Finally, Empower Advisory Group LLC boosted its stake in shares of Southern Copper by 17.0% during the 1st quarter. Empower Advisory Group LLC now owns 904,224 shares of the basic materials company’s stock worth $84,509,000 after acquiring an additional 131,156 shares during the period. 7.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. UBS Group reiterated a “buy” rating on shares of Southern Copper in a research note on Friday, September 19th. Morgan Stanley set a $132.00 price objective on shares of Southern Copper and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. Citigroup reissued a “sell” rating and issued a $108.00 price objective (up from $89.10) on shares of Southern Copper in a research report on Wednesday, October 8th. The Goldman Sachs Group set a $89.00 price objective on shares of Southern Copper and gave the company a “sell” rating in a research report on Wednesday, September 17th. Finally, JPMorgan Chase & Co. increased 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. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $109.88.

Southern Copper Stock Performance

NYSE:SCCO opened at $130.79 on Wednesday. The stock has a market cap of $105.16 billion, a P/E ratio of 28.62, a PEG ratio of 1.34 and a beta of 1.02. The stock has a 50 day simple moving average of $108.01 and a 200 day simple moving average of $98.48. 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 Corporation has a 1-year low of $74.84 and a 1-year high of $136.49.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 15th were issued a $1.01 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $4.04 annualized dividend and a yield of 3.1%. This is a boost from Southern Copper’s previous quarterly dividend of $0.62. Southern Copper’s payout ratio is presently 70.02%.

Insiders Place Their Bets

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of Southern Copper 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 completion of the transaction, the director directly owned 2,327 shares of the company’s stock, valued at $232,700. The trade was a 15.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 1,228 shares of company stock valued at $123,102. 0.07% of the stock is owned by insiders.

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.