Brooklyn Investment Group Has $159,000 Holdings in Southern Copper Corporation $SCCO

Brooklyn Investment Group grew its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 103.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,705 shares of the basic materials company’s stock after acquiring an additional 869 shares during the period. Brooklyn Investment Group’s holdings in Southern Copper were worth $159,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Freestone Capital Holdings LLC bought a new position in shares of Southern Copper during the 1st quarter valued at approximately $680,000. Nations Financial Group Inc. IA ADV grew its position in shares of Southern Copper by 8.8% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 7,894 shares of the basic materials company’s stock valued at $738,000 after acquiring an additional 636 shares during the period. American Century Companies Inc. grew its position in shares of Southern Copper by 10.6% during the 1st quarter. American Century Companies Inc. now owns 62,271 shares of the basic materials company’s stock valued at $5,820,000 after acquiring an additional 5,992 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Southern Copper during the 1st quarter valued at approximately $787,000. Finally, National Pension Service grew its position in shares of Southern Copper by 2.0% during the 1st quarter. National Pension Service now owns 26,394 shares of the basic materials company’s stock valued at $2,467,000 after acquiring an additional 505 shares during the period. 7.94% of the stock is owned by institutional investors.

Southern Copper Stock Down 0.6%

Shares of NYSE:SCCO opened at $93.7140 on Thursday. The firm has a fifty day moving average price of $97.98 and a two-hundred day moving average price of $93.92. 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 Corporation has a one year low of $74.84 and a one year high of $121.44. The company has a market cap of $75.35 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 1.38 and a beta of 1.00.

Southern Copper Increases Dividend

The company also recently declared a — dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a $1.01 dividend. This represents a yield of 270.0%. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Southern Copper’s previous — dividend of $0.62. Southern Copper’s payout ratio is 70.02%.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of the firm’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 completion of the transaction, the director directly owned 2,327 shares of the company’s stock, valued at $232,700. This trade represents a 15.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. UBS Group downgraded shares of Southern Copper from a “buy” rating to a “neutral” rating and set a $105.00 target price for the company. in a research report on Tuesday, July 1st. Wall Street Zen downgraded shares of Southern Copper from a “buy” rating to a “hold” rating in a report on Tuesday, May 20th. Morgan Stanley reaffirmed an “underweight” rating and issued a $99.00 price objective (up from $86.00) on shares of Southern Copper in a report on Tuesday, July 15th. Itau BBA Securities raised shares of Southern Copper from an “underperform” rating to a “market perform” rating in a report on Wednesday, June 11th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Southern Copper from $83.50 to $79.00 and set a “neutral” rating for the company in a report on Thursday, July 3rd. Four research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $91.00.

About Southern Copper

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.