IFM Investors Pty Ltd Has $1.29 Million Position in Southern Copper Corporation $SCCO

IFM Investors Pty Ltd increased its position in shares of Southern Copper Corporation (NYSE:SCCO) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,725 shares of the basic materials company’s stock after buying an additional 124 shares during the quarter. IFM Investors Pty Ltd’s holdings in Southern Copper were worth $1,287,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Security National Bank boosted its holdings in Southern Copper by 6.1% during the second quarter. Security National Bank now owns 47,656 shares of the basic materials company’s stock valued at $4,821,000 after purchasing an additional 2,750 shares in the last quarter. Marshall Financial Group LLC boosted its holdings in Southern Copper by 4.2% during the second quarter. Marshall Financial Group LLC now owns 22,596 shares of the basic materials company’s stock valued at $2,361,000 after purchasing an additional 905 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Southern Copper by 6.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 15,755 shares of the basic materials company’s stock valued at $1,668,000 after purchasing an additional 982 shares in the last quarter. TT International Asset Management LTD acquired a new stake in Southern Copper during the second quarter valued at approximately $1,370,000. Finally, American Financial Advisors LLC boosted its holdings in Southern Copper by 1.1% during 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 in the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SCCO has been the subject of a number of research analyst reports. The Goldman Sachs Group set a $89.00 target price on shares of Southern Copper and gave the company a “sell” rating in a research note on Wednesday, September 17th. Morgan Stanley reiterated an “underweight” rating and issued a $99.00 target price (up previously from $86.00) on shares of Southern Copper in a research note on Tuesday, July 15th. Itau BBA Securities upgraded shares of Southern Copper from an “underperform” rating to a “market perform” rating in a research note on Wednesday, June 11th. UBS Group reiterated a “buy” rating on shares of Southern Copper in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Southern Copper from $79.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Four research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $93.67.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 414 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $100.00, for a total transaction of $41,400.00. Following the sale, the director 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 legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 1,228 shares of company stock worth $123,102. Company insiders own 0.07% of the company’s stock.

Southern Copper Stock Performance

Shares of NYSE:SCCO opened at $111.52 on Tuesday. The company’s 50 day moving average price is $98.97 and its two-hundred day moving average price is $95.31. Southern Copper Corporation has a 12-month low of $74.84 and a 12-month high of $121.44. The firm has a market cap of $89.67 billion, a PE ratio of 24.40, a PEG ratio of 1.62 and a beta of 0.99. 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 business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 15th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, August 15th. This is a boost from Southern Copper’s previous quarterly dividend of $0.62. Southern Copper’s payout ratio is 70.02%.

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.