Sanctuary Advisors LLC Purchases 4,517 Shares of Southern Copper Corporation $SCCO

Sanctuary Advisors LLC grew its position in Southern Copper Corporation (NYSE:SCCO) by 36.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,821 shares of the basic materials company’s stock after acquiring an additional 4,517 shares during the quarter. Sanctuary Advisors LLC’s holdings in Southern Copper were worth $2,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SCCO. SHP Wealth Management bought a new position in Southern Copper during the fourth quarter valued at $25,000. Lloyd Advisory Services LLC. bought a new stake in shares of Southern Copper in the 4th quarter worth about $29,000. Virtus Advisers LLC bought a new stake in shares of Southern Copper in the 4th quarter worth about $29,000. Godfrey Financial Associates Inc. purchased a new stake in shares of Southern Copper during the 4th quarter valued at about $30,000. Finally, IFP Advisors Inc raised its position in shares of Southern Copper by 233.3% during the 4th quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock valued at $33,000 after buying an additional 161 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on SCCO. UBS Group reiterated a “sell” rating and issued a $160.00 price target (up from $145.00) on shares of Southern Copper in a research report on Tuesday, June 30th. The Goldman Sachs Group raised Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective for the company in a research note on Friday, April 10th. Weiss Ratings cut Southern Copper from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, July 8th. Wall Street Zen raised Southern Copper from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Finally, Zacks Research raised Southern Copper from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat, Southern Copper has a consensus rating of “Reduce” and an average target price of $148.10.

Southern Copper Price Performance

SCCO opened at $175.20 on Tuesday. The business has a fifty day moving average of $180.83 and a 200 day moving average of $182.47. Southern Copper Corporation has a 52-week low of $88.73 and a 52-week high of $223.88. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. The stock has a market cap of $144.73 billion, a P/E ratio of 28.96, a PEG ratio of 1.47 and a beta of 1.11.

Southern Copper’s stock is set to split on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly issued shares will be distributed to shareholders after the market closes on Monday, August 10th.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be paid a dividend of $1.10 per share. This is an increase from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 11th. Southern Copper’s payout ratio is presently 66.12%.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total transaction of $35,564.00. Following the completion of the sale, the director directly owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. The trade was a 9.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 404 shares of company stock worth $74,108 over the last ninety days. 0.07% of the stock is currently owned by insiders.

Southern Copper Company Profile

Southern Copper Corporation (NYSE: SCCO) is a large, integrated copper producer whose operations span the full value chain from exploration and mining to smelting, refining and the sale of copper and other metal products. The company produces a range of copper products including copper concentrate and refined cathodes, and recovers valuable byproducts such as molybdenum, silver and zinc. Southern Copper concentrates on high-volume, long-life assets designed to support steady production and processing capabilities.

Southern Copper’s operations are concentrated in Peru and Mexico, where it owns and operates multiple large-scale mining and processing facilities.