Charles Schwab Investment Management Inc. Increases Position in Southern Copper Corporation $SCCO

Charles Schwab Investment Management Inc. lifted its position in Southern Copper Corporation (NYSE:SCCO) by 0.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 239,516 shares of the basic materials company’s stock after purchasing an additional 2,079 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Southern Copper were worth $22,385,000 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 the company. Lester Murray Antman dba SimplyRich increased its stake in shares of Southern Copper by 0.7% in the first quarter. Lester Murray Antman dba SimplyRich now owns 28,367 shares of the basic materials company’s stock worth $2,651,000 after purchasing an additional 191 shares in the last quarter. Empower Advisory Group LLC increased its stake in shares of Southern Copper by 17.0% in the first quarter. Empower Advisory Group LLC now owns 904,224 shares of the basic materials company’s stock worth $84,509,000 after purchasing an additional 131,156 shares in the last quarter. Scotia Capital Inc. increased its stake in shares of Southern Copper by 5.4% in the first quarter. Scotia Capital Inc. now owns 15,972 shares of the basic materials company’s stock worth $1,493,000 after purchasing an additional 821 shares in the last quarter. Liberty Wealth Management LLC purchased a new stake in shares of Southern Copper in the first quarter worth $1,205,000. Finally, J. Safra Sarasin Holding AG purchased a new stake in shares of Southern Copper in the first quarter worth $206,000. 7.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of Southern Copper stock in a transaction on Friday, August 8th. The shares were sold at an average price of $100.00, for a total value of $41,400.00. Following the completion of the transaction, the director directly owned 2,327 shares of the company’s stock, valued at $232,700. This trade represents a 15.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.07% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SCCO shares. 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. Wall Street Zen cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Tuesday, May 20th. UBS Group cut shares of Southern Copper from a “buy” rating to a “neutral” rating and set a $105.00 target price for the company. in a research note on Tuesday, July 1st. JPMorgan Chase & Co. cut their target price on shares of Southern Copper from $83.50 to $79.00 and set a “neutral” rating for the company in a research note on Thursday, July 3rd. Finally, Hsbc Global Res raised shares of Southern Copper from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 24th. 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.com, Southern Copper presently has a consensus rating of “Reduce” and an average price target of $91.00.

Southern Copper Stock Performance

Shares of NYSE:SCCO opened at $93.7440 on Friday. Southern Copper Corporation has a 52 week low of $74.84 and a 52 week high of $121.44. The stock has a market capitalization of $75.38 billion, a P/E ratio of 20.51, a PEG ratio of 1.37 and a beta of 1.00. The firm has a fifty day simple moving average of $97.94 and a two-hundred day simple moving average of $93.94. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.67.

Southern Copper Increases Dividend

The firm also recently disclosed a — dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a $1.01 dividend. This represents a dividend yield of 270.0%. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from Southern Copper’s previous — dividend of $0.62. Southern Copper’s dividend payout ratio is 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.