Knights of Columbus Asset Advisors LLC acquired a new stake in shares of Southern Copper Corporation (NYSE:SCCO – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 17,850 shares of the basic materials company’s stock, valued at approximately $2,561,000.
A number of other institutional investors also recently added to or reduced their stakes in SCCO. Hopwood Financial Services Inc. acquired a new stake in Southern Copper during the third quarter valued at approximately $25,000. Lloyd Advisory Services LLC. acquired a new stake in Southern Copper during the fourth quarter valued at approximately $29,000. United Community Bank acquired a new stake in Southern Copper during the third quarter valued at approximately $30,000. Caitlin John LLC acquired a new stake in Southern Copper during the third quarter valued at approximately $30,000. Finally, IFP Advisors Inc boosted its holdings in Southern Copper by 233.3% during the fourth quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 161 shares in the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.
Southern Copper Stock Down 1.1%
Shares of SCCO opened at $187.74 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.38 and a quick ratio of 3.89. The business’s 50 day simple moving average is $178.15 and its 200-day simple moving average is $170.74. Southern Copper Corporation has a one year low of $88.73 and a one year high of $223.88. The company has a market capitalization of $153.78 billion, a P/E ratio of 31.03, a PEG ratio of 1.88 and a beta of 1.07.
Southern Copper Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Wednesday, May 13th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, May 13th. Southern Copper’s payout ratio is 66.12%.
Insiders Place Their Bets
In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the business’s stock in a transaction that occurred 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 owned 1,807 shares in the company, valued at $321,320.74. The trade was a 9.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders have sold 500 shares of company stock valued at $88,412. Insiders own 0.07% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Southern Copper in a report on Friday, March 27th. JPMorgan Chase & Co. boosted their target price on Southern Copper from $117.50 to $127.00 and gave the stock an “underweight” rating in a report on Friday, April 10th. Wall Street Zen downgraded Southern Copper from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Wells Fargo & Company set a $171.00 target price on Southern Copper and gave the stock an “equal weight” rating in a report on Friday, May 1st. Finally, Scotiabank reissued an “underperform” rating and issued a $135.00 target price (up from $133.00) on shares of Southern Copper in a report on Friday, May 15th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and eight have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $145.14.
About Southern Copper
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.
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