Private Capital Advisors Inc. Buys Shares of 118,561 Southern Copper Corporation $SCCO

Private Capital Advisors Inc. bought a new stake in shares of Southern Copper Corporation (NYSE:SCCO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 118,561 shares of the basic materials company’s stock, valued at approximately $11,995,000. Southern Copper makes up about 1.5% of Private Capital Advisors Inc.’s holdings, making the stock its 16th biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. Teacher Retirement System of Texas purchased a new position in Southern Copper during the 1st quarter valued at about $2,637,000. Golden State Wealth Management LLC purchased a new position in Southern Copper during the 1st quarter valued at about $29,000. Oppenheimer & Co. Inc. purchased a new position in Southern Copper during the 1st quarter valued at about $337,000. GAMMA Investing LLC grew its holdings in Southern Copper by 35.2% during the 1st quarter. GAMMA Investing LLC now owns 906 shares of the basic materials company’s stock valued at $85,000 after buying an additional 236 shares in the last quarter. Finally, Novem Group grew its holdings in Southern Copper by 34.4% during the 1st quarter. Novem Group now owns 10,758 shares of the basic materials company’s stock valued at $1,005,000 after buying an additional 2,754 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

NYSE:SCCO opened at $128.38 on Wednesday. The business has a 50 day moving average of $111.45 and a 200 day moving average of $99.95. The company has a market capitalization of $103.22 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 1.30 and a beta of 1.02. Southern Copper Corporation has a 1-year low of $74.84 and a 1-year high of $136.49. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.27 and a quick ratio of 4.51.

Southern Copper Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, August 15th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.62. Southern Copper’s dividend payout ratio is presently 70.02%.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of the business’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 sale, the director owned 2,327 shares in the company, valued at $232,700. The trade was a 15.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 1,228 shares of company stock valued at $123,102. Insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SCCO shares. Wells Fargo & Company upgraded Southern Copper to a “hold” rating in a research report on Wednesday, October 8th. Citigroup reiterated a “sell” rating and set a $108.00 price target (up previously 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 target on Southern Copper and gave the company a “sell” rating in a research report on Wednesday, September 17th. JPMorgan Chase & Co. lifted their price target on Southern Copper from $79.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, September 3rd. Finally, Morgan Stanley set a $132.00 price target on Southern Copper and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $110.78.

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.