Southern Copper Corporation $SCCO Shares Acquired by Advocate Group LLC

Advocate Group LLC grew its position in Southern Copper Corporation (NYSE:SCCO) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,734 shares of the basic materials company’s stock after purchasing an additional 358 shares during the period. Advocate Group LLC’s holdings in Southern Copper were worth $3,818,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Generali Investments CEE investicni spolecnost a.s. increased its holdings in shares of Southern Copper by 0.7% in the first quarter. Generali Investments CEE investicni spolecnost a.s. now owns 15,077 shares of the basic materials company’s stock valued at $1,409,000 after purchasing an additional 108 shares during the period. American Financial Advisors LLC increased its holdings in shares of Southern Copper by 1.1% in the second quarter. American Financial Advisors LLC now owns 10,422 shares of the basic materials company’s stock valued at $1,054,000 after purchasing an additional 112 shares during the period. PDS Planning Inc grew its holdings in Southern Copper by 3.7% during the second quarter. PDS Planning Inc now owns 3,330 shares of the basic materials company’s stock worth $337,000 after acquiring an additional 119 shares during the period. IFM Investors Pty Ltd grew its holdings in Southern Copper by 1.0% during the second quarter. IFM Investors Pty Ltd now owns 12,725 shares of the basic materials company’s stock worth $1,287,000 after acquiring an additional 124 shares during the period. Finally, Zurich Insurance Group Ltd FI grew its holdings in Southern Copper by 0.7% during the first quarter. Zurich Insurance Group Ltd FI now owns 17,331 shares of the basic materials company’s stock worth $1,620,000 after acquiring an additional 125 shares during the period. 7.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on SCCO. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Southern Copper in a report on Wednesday. Citigroup reaffirmed a “sell” rating and set a $108.00 target price (up from $89.10) on shares of Southern Copper in a report on Wednesday. Wells Fargo & Company raised Southern Copper to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. raised their target price on Southern Copper from $79.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, September 3rd. Finally, The Goldman Sachs Group set a $89.00 target price on Southern Copper and gave the stock a “sell” rating in a report on Wednesday, September 17th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $109.88.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $100.00, for a total transaction of $41,400.00. Following the transaction, the director owned 2,327 shares in the company, valued at approximately $232,700. This represents a 15.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 1,228 shares of company stock worth $123,102 in the last quarter. Corporate insiders own 0.07% of the company’s stock.

Southern Copper Stock Performance

Shares of SCCO stock opened at $125.00 on Friday. The company has a market capitalization of $100.51 billion, a P/E ratio of 27.35, a P/E/G ratio of 1.26 and a beta of 1.02. The business’s 50 day moving average is $106.49 and its two-hundred day moving average is $97.97. The company has a current ratio of 5.27, a quick ratio of 4.51 and a debt-to-equity ratio of 0.67. Southern Copper Corporation has a 12-month low of $74.84 and a 12-month high of $136.49.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 15th were given a dividend of $1.01 per share. This is an increase from Southern Copper’s previous quarterly dividend of $0.62. This represents a $4.04 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, August 15th. Southern Copper’s dividend payout ratio (DPR) is currently 70.02%.

Southern Copper 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.