Strategic Advocates LLC Raises Stock Position in Southern Copper Corporation $SCCO

Strategic Advocates LLC boosted its position in shares of Southern Copper Corporation (NYSE:SCCO) by 3.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,490 shares of the basic materials company’s stock after acquiring an additional 163 shares during the period. Strategic Advocates LLC’s holdings in Southern Copper were worth $555,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Teacher Retirement System of Texas purchased a new position in Southern Copper in the 1st quarter worth approximately $2,637,000. Golden State Wealth Management LLC purchased a new position in Southern Copper in the 1st quarter worth approximately $29,000. Oppenheimer & Co. Inc. purchased a new position in Southern Copper in the 1st quarter worth approximately $337,000. GAMMA Investing LLC grew its stake in Southern Copper by 35.2% in the 1st quarter. GAMMA Investing LLC now owns 906 shares of the basic materials company’s stock worth $85,000 after buying an additional 236 shares in the last quarter. Finally, Novem Group grew its stake in Southern Copper by 34.4% in the 1st quarter. Novem Group now owns 10,758 shares of the basic materials company’s stock worth $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.

Insider Buying and Selling

In related news, Director Bonilla Luis Miguel Palomino sold 414 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $100.00, for a total transaction of $41,400.00. Following the completion of the sale, the director directly owned 2,327 shares in the company, valued at $232,700. This represents a 15.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders have sold 1,228 shares of company stock worth $123,102. Corporate insiders own 0.07% of the company’s stock.

Southern Copper Trading Up 3.4%

NYSE:SCCO opened at $109.74 on Tuesday. The company has a fifty day moving average of $98.22 and a 200 day moving average of $94.62. Southern Copper Corporation has a 52 week low of $74.84 and a 52 week high of $121.44. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $88.24 billion, a P/E ratio of 24.01, a P/E/G ratio of 1.57 and a beta of 0.99.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were issued a dividend of $1.01 per share. The ex-dividend date was Friday, August 15th. This represents a $4.04 dividend on an annualized basis and a yield of 3.7%. This is an increase from Southern Copper’s previous quarterly dividend of $0.62. Southern Copper’s dividend payout ratio (DPR) is currently 70.02%.

Analyst Ratings Changes

A number of research firms have commented on SCCO. Morgan Stanley reissued an “underweight” rating and issued a $99.00 price target (up previously from $86.00) on shares of Southern Copper in a research note on Tuesday, July 15th. UBS Group cut shares of Southern Copper from a “buy” rating to a “neutral” rating and set a $105.00 price objective for the company. in a research note on Tuesday, July 1st. Wall Street Zen cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Tuesday, May 20th. Itau BBA Securities raised shares of Southern Copper from an “underperform” rating to a “market perform” rating in a research note on Wednesday, June 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Southern Copper from $79.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Four investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $93.60.

Southern Copper Company Profile

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.