Andra AP fonden Raises Stock Holdings in Southern Copper Corporation $SCCO

Andra AP fonden grew its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 1,672.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,144 shares of the basic materials company’s stock after acquiring an additional 45,428 shares during the quarter. Andra AP fonden’s holdings in Southern Copper were worth $5,843,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SCCO. Banco Santander S.A. lifted its position in Southern Copper by 1.0% during the third quarter. Banco Santander S.A. now owns 15,160 shares of the basic materials company’s stock valued at $1,840,000 after purchasing an additional 151 shares during the period. Xponance Inc. raised its stake in Southern Copper by 2.4% during the 3rd quarter. Xponance Inc. now owns 4,459 shares of the basic materials company’s stock valued at $541,000 after buying an additional 103 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its holdings in shares of Southern Copper by 4.4% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 11,084 shares of the basic materials company’s stock valued at $1,345,000 after buying an additional 464 shares during the period. Westpac Banking Corp boosted its stake in shares of Southern Copper by 943.6% in the 3rd quarter. Westpac Banking Corp now owns 12,899 shares of the basic materials company’s stock worth $1,565,000 after buying an additional 11,663 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Southern Copper by 0.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 98,575 shares of the basic materials company’s stock worth $11,963,000 after buying an additional 457 shares during the last quarter. 7.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on SCCO. Scotiabank reiterated an “underperform” rating on shares of Southern Copper in a research report on Tuesday, January 27th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $127.91 price target on shares of Southern Copper in a research report on Wednesday, January 14th. Wall Street Zen downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Sunday. Morgan Stanley restated an “underweight” rating and set a $154.69 target price on shares of Southern Copper in a research report on Friday, January 30th. Finally, Itau BBA Securities cut shares of Southern Copper from a “market perform” rating to an “underperform” rating and set a $124.94 target price for the company. in a report on Monday, December 22nd. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and eight have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $139.99.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 403 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $137.83, for a total value of $55,544.87. Following the completion of the transaction, the director directly owned 1,275 shares in the company, valued at $175,731.28. This represents a 24.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total transaction of $1,954,344.91. Following the sale, the director directly owned 605 shares of the company’s stock, valued at approximately $126,783.04. This trade represents a 93.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.07% of the stock is currently owned by insiders.

Southern Copper Trading Up 1.0%

Shares of Southern Copper stock opened at $217.88 on Friday. Southern Copper Corporation has a fifty-two week low of $74.84 and a fifty-two week high of $223.89. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.91 and a current ratio of 4.52. The company has a market capitalization of $176.96 billion, a P/E ratio of 40.96, a P/E/G ratio of 1.80 and a beta of 1.07. The company has a fifty day moving average of $180.98 and a 200 day moving average of $142.32.

Southern Copper Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 10th were paid a dividend of $1.00 per share. This is a boost from Southern Copper’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $4.00 annualized dividend and a yield of 1.8%. Southern Copper’s dividend payout ratio is 75.19%.

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.