Stonnington Group LLC Makes New Investment in Southern Copper Co. (NYSE:SCCO)

Stonnington Group LLC purchased a new position in Southern Copper Co. (NYSE:SCCO – Get Rating) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 14,500 shares of the basic materials company’s stock, valued at approximately $1,041,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Accurate Wealth Management LLC bought a new stake in shares of Southern Copper during the 4th quarter valued at $25,000. Loomis Sayles & Co. L P bought a new stake in shares of Southern Copper during the 1st quarter valued at $29,000. Penserra Capital Management LLC bought a new stake in shares of Southern Copper during the 1st quarter valued at $46,000. Private Trust Co. NA purchased a new position in Southern Copper during the second quarter valued at $34,000. Finally, American Research & Management Co. grew its stake in Southern Copper by 42.3% during the third quarter. American Research & Management Co. now owns 740 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 220 shares in the last quarter. 7.03% of the stock is currently owned by institutional investors.

Insider Activity at Southern Copper

In related news, Director Andreve Vicente Ariztegui sold 1,500 shares of Southern Copper stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $76.11, for a total transaction of $114,165.00. Following the completion of the sale, the director now owns 4,400 shares in the company, valued at approximately $334,884. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SCCO shares. Barclays raised their target price on shares of Southern Copper from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Monday, January 30th. Grupo Santander raised shares of Southern Copper from a “neutral” rating to an “outperform” rating and raised their target price for the company from $60.00 to $69.00 in a research note on Monday, November 28th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Southern Copper from $45.00 to $50.00 in a research note on Tuesday, January 10th. StockNews.com began coverage on shares of Southern Copper in a research note on Thursday. They issued a “buy” rating for the company. Finally, Citigroup lifted their price objective on shares of Southern Copper from $40.00 to $60.00 in a research note on Wednesday, January 11th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $57.86.

Southern Copper Price Performance

Southern Copper stock opened at $68.11 on Friday. The firm has a 50-day moving average price of $74.19 and a 200-day moving average price of $60.57. The firm has a market capitalization of $52.66 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 3.71 and a beta of 1.22. The company has a current ratio of 4.20, a quick ratio of 3.38 and a debt-to-equity ratio of 0.77. Southern Copper Co. has a 12-month low of $42.42 and a 12-month high of $79.32.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Tuesday, February 14th were issued a dividend of $1.00 per share. This is a positive change from Southern Copper’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, February 13th. This represents a $4.00 dividend on an annualized basis and a yield of 5.87%. Southern Copper’s dividend payout ratio (DPR) is presently 116.96%.

About Southern Copper

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Southern Copper Corp. engages in the development, production, and exploration of copper, molybdenum, zinc, and silver. It operates through the following segments: Peruvian Operations, Mexican Open-Pit Operations, and Mexican Underground Mining Operations. The Peruvian Operations segment focuses on the Toquepala and Cuajone mine complexes and the smelting and refining plants, industrial railroad, and port facilities that service both mines.