Randolph Co Inc Increases Stake in Southern Copper Corporation $SCCO

Randolph Co Inc lifted its position in Southern Copper Corporation (NYSE:SCCO) by 6.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 215,284 shares of the basic materials company’s stock after acquiring an additional 12,414 shares during the period. Southern Copper accounts for about 3.5% of Randolph Co Inc’s investment portfolio, making the stock its 13th largest holding. Randolph Co Inc’s holdings in Southern Copper were worth $37,042,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SCCO. National Wealth Management Group LLC purchased a new stake in shares of Southern Copper in the fourth quarter worth $1,281,000. Vanguard Group Inc. grew its stake in shares of Southern Copper by 11.2% in the third quarter. Vanguard Group Inc. now owns 950,018 shares of the basic materials company’s stock worth $115,294,000 after acquiring an additional 96,013 shares during the period. Nordea Investment Management AB raised its stake in Southern Copper by 74.0% during the 4th quarter. Nordea Investment Management AB now owns 258,341 shares of the basic materials company’s stock valued at $37,142,000 after buying an additional 109,857 shares during the last quarter. Oak Harvest Investment Services purchased a new stake in Southern Copper during the fourth quarter valued at $7,650,000. Finally, Savvy Advisors Inc. purchased a new stake in shares of Southern Copper during the 4th quarter valued at about $1,434,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Southern Copper Stock Down 3.2%

Shares of SCCO stock opened at $168.71 on Thursday. The company’s fifty day simple moving average is $182.09 and its two-hundred day simple moving average is $179.68. Southern Copper Corporation has a 52 week low of $88.73 and a 52 week high of $223.88. The stock has a market cap of $139.36 billion, a P/E ratio of 27.89, a PEG ratio of 1.57 and a beta of 1.12. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57.

Southern Copper Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, May 13th. Southern Copper’s dividend payout ratio is currently 66.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SCCO shares. UBS Group reissued a “sell” rating and issued a $160.00 price objective (up from $145.00) on shares of Southern Copper in a report on Tuesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Southern Copper in a report on Wednesday, June 24th. Scotiabank reiterated an “underperform” rating and issued a $140.00 price target (up from $135.00) on shares of Southern Copper in a research report on Monday, June 15th. Wells Fargo & Company set a $171.00 price target on shares of Southern Copper and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. upped their price objective on Southern Copper from $127.00 to $131.50 and gave the stock an “underweight” rating in a research note on Wednesday, June 17th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $147.19.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of Southern Copper stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the transaction, the director directly owned 1,807 shares of the company’s stock, valued at $321,320.74. This trade represents a 9.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 404 shares of company stock worth $74,108 in the last three months. 0.07% of the stock is owned by company insiders.

Southern Copper 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.