Aware Super Pty Ltd as trustee of Aware Super Takes Position in Southern Copper Corporation $SCCO

Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of Southern Copper Corporation (NYSE:SCCO) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 66,257 shares of the basic materials company’s stock, valued at approximately $11,400,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SHP Wealth Management acquired a new position in Southern Copper in the fourth quarter worth about $25,000. Lloyd Advisory Services LLC. acquired a new position in shares of Southern Copper in the 4th quarter worth approximately $29,000. Virtus Advisers LLC purchased a new stake in shares of Southern Copper during the fourth quarter valued at $29,000. Godfrey Financial Associates Inc. purchased a new position in Southern Copper during the 4th quarter worth approximately $30,000. Finally, IFP Advisors Inc lifted its position in shares of Southern Copper by 233.3% in the fourth quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Price Performance

Shares of Southern Copper stock opened at $172.22 on Friday. The company has a quick ratio of 3.89, a current ratio of 4.38 and a debt-to-equity ratio of 0.57. Southern Copper Corporation has a twelve month low of $88.73 and a twelve month high of $223.88. The stock has a market capitalization of $142.26 billion, a price-to-earnings ratio of 28.47, a price-to-earnings-growth ratio of 1.50 and a beta of 1.11. The company has a 50-day simple moving average of $181.03 and a two-hundred day simple moving average of $181.99.

Southern Copper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were paid a dividend of $1.00 per share. The ex-dividend date was Wednesday, May 13th. This represents a $4.00 annualized dividend and a yield of 2.3%. Southern Copper’s dividend payout ratio is presently 66.12%.

Insider Buying and Selling

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the sale, the director owned 1,807 shares in the company, valued at $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 404 shares of company stock valued at $74,108. 0.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Morgan Stanley increased their price objective on Southern Copper from $146.00 to $158.00 and gave the company an “underweight” rating in a report on Wednesday, July 8th. Zacks Research raised shares of Southern Copper from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Barclays reissued an “underweight” rating and issued a $160.00 target price (up from $148.00) on shares of Southern Copper in a research note on Wednesday. Scotiabank reaffirmed an “underperform” rating and issued a $140.00 price target (up from $135.00) on shares of Southern Copper in a research note on Monday, June 15th. Finally, Wells Fargo & Company raised their price objective on shares of Southern Copper from $171.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and seven have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $148.10.

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.