Alps Advisors Inc. Has $4.33 Million Stock Position in Southern Copper Corporation $SCCO

Alps Advisors Inc. increased its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 54.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,647 shares of the basic materials company’s stock after acquiring an additional 12,532 shares during the quarter. Alps Advisors Inc.’s holdings in Southern Copper were worth $4,326,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of SCCO. Royal Bank of Canada lifted its stake in shares of Southern Copper by 42.1% in the first quarter. Royal Bank of Canada now owns 44,879 shares of the basic materials company’s stock valued at $4,194,000 after buying an additional 13,293 shares during the period. Empowered Funds LLC lifted its position in shares of Southern Copper by 17.9% in the 1st quarter. Empowered Funds LLC now owns 6,705 shares of the basic materials company’s stock worth $627,000 after acquiring an additional 1,020 shares during the period. Focus Partners Wealth grew its holdings in shares of Southern Copper by 21.5% during the 1st quarter. Focus Partners Wealth now owns 5,944 shares of the basic materials company’s stock worth $556,000 after purchasing an additional 1,052 shares in the last quarter. Callan Family Office LLC bought a new stake in shares of Southern Copper during the second quarter valued at approximately $245,000. Finally, Blue Trust Inc. raised its stake in shares of Southern Copper by 69.6% in the second quarter. Blue Trust Inc. now owns 2,195 shares of the basic materials company’s stock valued at $222,000 after purchasing an additional 901 shares in the last quarter. 7.94% of the stock is currently owned by institutional investors and hedge funds.

Southern Copper Stock Up 4.1%

NYSE SCCO opened at $208.32 on Tuesday. The stock’s 50 day simple moving average is $164.80 and its 200 day simple moving average is $133.10. Southern Copper Corporation has a one year low of $74.84 and a one year high of $218.81. The firm has a market cap of $169.20 billion, a PE ratio of 39.16, a price-to-earnings-growth ratio of 1.64 and a beta of 1.06. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.52 and a quick ratio of 3.91.

Southern Copper Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 10th will be paid a $1.00 dividend. This is a boost from Southern Copper’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, February 10th. Southern Copper’s payout ratio is presently 67.67%.

Insider Buying and Selling

In other news, Director Lerdo De Tejada Leon Contreras sold 9,248 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $211.34, for a total transaction of $1,954,472.32. Following the sale, the director directly owned 600 shares of the company’s stock, valued at $126,804. This represents a 93.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bonilla Luis Miguel Palomino sold 400 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $139.00, for a total transaction of $55,600.00. Following the completion of the transaction, the director owned 1,265 shares of the company’s stock, valued at $175,835. This trade represents a 24.02% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SCCO shares. Morgan Stanley reiterated an “underweight” rating and set a $156.00 price target on shares of Southern Copper in a research note on Friday, January 30th. Zacks Research cut shares of Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $117.50 price target (down previously from $119.50) on shares of Southern Copper in a research report on Friday, January 23rd. Wells Fargo & Company set a $192.00 price objective on Southern Copper and gave the company an “equal weight” rating in a report on Thursday, January 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Southern Copper in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat.com, Southern Copper has a consensus rating of “Reduce” and an average price target of $137.65.

Southern Copper Profile

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.