Southern Copper Co. (NYSE:SCCO) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its holdings in Southern Copper Co. (NYSE:SCCO) by 21.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,237 shares of the basic materials company’s stock after purchasing an additional 16,111 shares during the quarter. Advisors Asset Management Inc.’s holdings in Southern Copper were worth $9,612,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Fisher Asset Management LLC boosted its stake in Southern Copper by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 3,349,984 shares of the basic materials company’s stock valued at $288,333,000 after buying an additional 39,422 shares in the last quarter. abrdn plc boosted its position in shares of Southern Copper by 2.3% during the 4th quarter. abrdn plc now owns 3,041,233 shares of the basic materials company’s stock valued at $261,759,000 after purchasing an additional 67,930 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Southern Copper by 54.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,541,396 shares of the basic materials company’s stock worth $164,190,000 after purchasing an additional 544,312 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Southern Copper by 1.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,014,356 shares of the basic materials company’s stock worth $87,306,000 after purchasing an additional 18,883 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Southern Copper by 1.3% during the third quarter. Vanguard Group Inc. now owns 968,149 shares of the basic materials company’s stock valued at $72,892,000 after purchasing an additional 12,201 shares during the last quarter. Institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Performance

Shares of SCCO traded up $1.08 during mid-day trading on Friday, hitting $105.42. The company’s stock had a trading volume of 731,689 shares, compared to its average volume of 1,191,350. The stock’s 50-day moving average is $112.35 and its two-hundred day moving average is $102.19. The firm has a market capitalization of $82.35 billion, a PE ratio of 34.68, a price-to-earnings-growth ratio of 1.06 and a beta of 1.19. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.56 and a current ratio of 3.31. Southern Copper Co. has a one year low of $68.93 and a one year high of $129.79.

Southern Copper (NYSE:SCCO) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.17. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.50 billion. Southern Copper had a net margin of 24.20% and a return on equity of 30.44%. As a group, sell-side analysts anticipate that Southern Copper Co. will post 4.34 EPS for the current year.

Southern Copper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Friday, August 9th. Southern Copper’s dividend payout ratio is currently 1.33%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. HSBC lowered shares of Southern Copper from a “hold” rating to a “reduce” rating and set a $80.00 price target on the stock. in a research report on Monday, April 22nd. CICC Research initiated coverage on shares of Southern Copper in a research note on Wednesday, April 24th. They set an “outperform” rating on the stock. Morgan Stanley boosted their price objective on shares of Southern Copper from $81.70 to $100.00 and gave the company an “underweight” rating in a research report on Friday, June 21st. StockNews.com raised Southern Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Finally, UBS Group started coverage on shares of Southern Copper in a research note on Friday, July 12th. They issued a “neutral” rating and a $120.00 price objective for the company. Five investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $89.57.

Insider Activity at Southern Copper

In related news, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $118.30, for a total value of $425,880.00. Following the completion of the transaction, the director now directly owns 2,214 shares in the company, valued at $261,916.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Bonilla Luis Miguel Palomino sold 300 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $118.50, for a total value of $35,550.00. Following the completion of the transaction, the director now directly owns 4,614 shares of the company’s stock, valued at approximately $546,759. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director PALOMINO BONILLA LUIS MIGUEL sold 3,600 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $118.30, for a total value of $425,880.00. Following the completion of the sale, the director now directly owns 2,214 shares in the company, valued at approximately $261,916.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,000 shares of company stock worth $472,430. Company insiders own 0.08% of the company’s stock.

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.