Integrated Advisors Network LLC Takes $926,000 Position in Southern Copper Corporation $SCCO

Integrated Advisors Network LLC purchased a new position in shares of Southern Copper Corporation (NYSE:SCCO) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,380 shares of the basic materials company’s stock, valued at approximately $926,000.

Several other large investors have also made changes to their positions in the company. Capital World Investors raised its position in Southern Copper by 36.1% during the third quarter. Capital World Investors now owns 6,437,608 shares of the basic materials company’s stock valued at $781,268,000 after purchasing an additional 1,708,693 shares in the last quarter. State Street Corp boosted its holdings in shares of Southern Copper by 2.4% in the 4th quarter. State Street Corp now owns 2,862,244 shares of the basic materials company’s stock valued at $410,646,000 after purchasing an additional 66,268 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Southern Copper by 0.3% in the 4th quarter. Fisher Asset Management LLC now owns 2,536,228 shares of the basic materials company’s stock valued at $363,873,000 after purchasing an additional 7,194 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Southern Copper by 8.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,181,293 shares of the basic materials company’s stock valued at $169,480,000 after purchasing an additional 90,237 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Southern Copper by 12.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,091,632 shares of the basic materials company’s stock valued at $132,479,000 after purchasing an additional 123,532 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Analysts Set New Price Targets

SCCO has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on Southern Copper from $146.00 to $158.00 and gave the stock an “underweight” rating in a research report on Wednesday. Scotiabank reiterated an “underperform” rating and issued a $140.00 target price (up from $135.00) on shares of Southern Copper in a research report on Monday, June 15th. Barclays began coverage on Southern Copper in a research note on Thursday, May 21st. They set an “underweight” rating and a $148.00 target price for the company. Wall Street Zen upgraded shares of Southern Copper from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Finally, UBS Group reaffirmed a “sell” rating and set a $160.00 price target (up from $145.00) on shares of Southern Copper in a report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat, Southern Copper has an average rating of “Reduce” and a consensus price target of $147.02.

Southern Copper Stock Performance

NYSE:SCCO opened at $167.58 on Thursday. The stock has a market cap of $138.44 billion, a P/E ratio of 27.70, a price-to-earnings-growth ratio of 1.52 and a beta of 1.11. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57. The stock’s 50-day moving average is $180.92 and its 200-day moving average is $180.74. Southern Copper Corporation has a 1-year low of $88.73 and a 1-year high of $223.88.

Southern Copper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.4%. Southern Copper’s payout ratio is currently 66.12%.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the sale, the director directly owned 1,807 shares in the company, valued at $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 404 shares of company stock valued at $74,108 in the last three months. Corporate insiders own 0.07% of the company’s stock.

Southern Copper Company 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.