Great Lakes Advisors LLC Invests $642,000 in Southern Copper Corporation $SCCO

Great Lakes Advisors LLC purchased a new stake in Southern Copper Corporation (NYSE:SCCOFree Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,286 shares of the basic materials company’s stock, valued at approximately $642,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCCO. MJT & Associates Financial Advisory Group Inc. raised its position in Southern Copper by 65.1% during the third quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock valued at $26,000 after buying an additional 84 shares during the period. Tobam purchased a new position in Southern Copper during the 2nd quarter valued at about $29,000. Westside Investment Management Inc. acquired a new position in shares of Southern Copper in the 2nd quarter valued at about $32,000. Allworth Financial LP lifted its position in shares of Southern Copper by 65.1% in the second quarter. Allworth Financial LP now owns 383 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 151 shares in the last quarter. Finally, AlphaCore Capital LLC lifted its position in shares of Southern Copper by 148.9% in the second quarter. AlphaCore Capital LLC now owns 433 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 259 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Insider Activity at Southern Copper

In other news, Director Bonilla Luis Miguel Palomino sold 400 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $139.00, for a total value of $55,600.00. Following the completion of the sale, the director directly owned 1,265 shares in the company, valued at approximately $175,835. The trade was a 24.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 748 shares of company stock valued at $103,260 over the last 90 days. Company insiders own 0.07% of the company’s stock.

Southern Copper Trading Down 8.5%

Southern Copper stock opened at $190.22 on Monday. Southern Copper Corporation has a one year low of $74.84 and a one year high of $218.81. The company’s fifty day moving average price is $156.59 and its two-hundred day moving average price is $128.80. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.52 and a quick ratio of 3.91. The company has a market capitalization of $154.49 billion, a price-to-earnings ratio of 39.88, a PEG ratio of 1.61 and a beta of 1.06.

Southern Copper shares are scheduled to split on the morning of Tuesday, February 10th. The 1.0085-1 split was recently announced. The newly minted shares will be payable to shareholders after the closing bell on Monday, February 9th.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 10th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.1%. This is a boost from Southern Copper’s previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, February 10th. Southern Copper’s dividend payout ratio is 75.47%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SCCO shares. Itau BBA Securities downgraded shares of Southern Copper from a “market perform” rating to an “underperform” rating and set a $126.00 price objective on the stock. in a research report on Monday, December 22nd. Citigroup restated a “sell” rating on shares of Southern Copper in a report on Monday, January 12th. UBS Group set a $148.00 price target on shares of Southern Copper and gave the stock a “sell” rating in a research note on Wednesday, January 21st. Jefferies Financial Group set a $155.00 price objective on Southern Copper and gave the company a “buy” rating in a research report on Monday, October 6th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $156.00 target price on shares of Southern Copper in a research report on Friday. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $137.45.

Check Out Our Latest Stock Analysis on Southern Copper

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Southern Copper Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Southern Copper (NYSE:SCCO)

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