Southern Copper Corporation $SCCO Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in shares of Southern Copper Corporation (NYSE:SCCO) by 31.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,187 shares of the basic materials company’s stock after acquiring an additional 281 shares during the period. GAMMA Investing LLC’s holdings in Southern Copper were worth $120,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in Southern Copper by 26.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,551,878 shares of the basic materials company’s stock worth $145,039,000 after acquiring an additional 322,935 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Southern Copper by 3.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,398,651 shares of the basic materials company’s stock worth $130,718,000 after acquiring an additional 44,014 shares in the last quarter. Driehaus Capital Management LLC grew its holdings in Southern Copper by 2.9% during the 1st quarter. Driehaus Capital Management LLC now owns 1,059,080 shares of the basic materials company’s stock worth $98,982,000 after acquiring an additional 30,232 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Southern Copper by 5.3% during the 1st quarter. Ameriprise Financial Inc. now owns 915,147 shares of the basic materials company’s stock worth $85,595,000 after acquiring an additional 45,691 shares in the last quarter. Finally, Empower Advisory Group LLC grew its holdings in Southern Copper by 17.0% during the 1st quarter. Empower Advisory Group LLC now owns 904,224 shares of the basic materials company’s stock worth $84,509,000 after acquiring an additional 131,156 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Up 0.2%

SCCO stock opened at $121.33 on Wednesday. The company has a fifty day moving average price of $101.42 and a 200 day moving average price of $96.40. Southern Copper Corporation has a 12 month low of $74.84 and a 12 month high of $122.65. The company has a market cap of $97.56 billion, a price-to-earnings ratio of 26.55, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99. The company has a debt-to-equity ratio of 0.67, a current ratio of 5.27 and a quick ratio of 4.51.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 15th were paid a $1.01 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $4.04 annualized dividend and a yield of 3.3%. This is an increase from Southern Copper’s previous quarterly dividend of $0.62. Southern Copper’s dividend payout ratio is presently 70.02%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Southern Copper from $79.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, September 3rd. UBS Group restated a “buy” rating on shares of Southern Copper in a research report on Friday, September 19th. The Goldman Sachs Group set a $89.00 price objective on shares of Southern Copper and gave the stock a “sell” rating in a research report on Wednesday, September 17th. Morgan Stanley restated an “underweight” rating and set a $99.00 price objective (up previously from $86.00) on shares of Southern Copper in a research report on Tuesday, July 15th. Finally, Itau BBA Securities upgraded shares of Southern Copper from an “underperform” rating to a “market perform” rating in a research report on Wednesday, June 11th. Four equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $93.67.

Insider Transactions at Southern Copper

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of the business’s 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 transaction, the director directly owned 2,327 shares of the company’s stock, valued at approximately $232,700. The trade was a 15.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 1,228 shares of company stock valued at $123,102. Insiders own 0.07% of the company’s stock.

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.