Southern Copper Corporation (NYSE:SCCO) Holdings Lifted by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its position in Southern Copper Corporation (NYSE:SCCO) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 74,253 shares of the basic materials company’s stock after purchasing an additional 537 shares during the period. Public Sector Pension Investment Board’s holdings in Southern Copper were worth $6,940,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SCCO. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Southern Copper in the 4th quarter worth approximately $40,226,000. Nuveen LLC acquired a new stake in shares of Southern Copper in the 1st quarter worth approximately $34,086,000. Northern Trust Corp lifted its stake in shares of Southern Copper by 44.9% in the 4th quarter. Northern Trust Corp now owns 1,146,537 shares of the basic materials company’s stock worth $104,484,000 after acquiring an additional 355,013 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Southern Copper by 26.3% in the 1st quarter. JPMorgan Chase & Co. now owns 1,551,878 shares of the basic materials company’s stock worth $145,039,000 after acquiring an additional 322,935 shares during the period. Finally, Jennison Associates LLC acquired a new stake in shares of Southern Copper in the 1st quarter worth approximately $25,739,000. Institutional investors own 7.94% of the company’s stock.

Insider Activity

In other news, Director Bonilla Luis Miguel Palomino sold 414 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $100.00, for a total transaction of $41,400.00. Following the sale, the director owned 2,327 shares in the company, valued at $232,700. The trade was a 15.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by corporate insiders.

Southern Copper Stock Down 1.8%

SCCO stock opened at $95.89 on Friday. Southern Copper Corporation has a 12 month low of $74.84 and a 12 month high of $121.44. The firm has a market cap of $77.10 billion, a PE ratio of 20.98, a P/E/G ratio of 1.42 and a beta of 1.00. The firm has a 50 day simple moving average of $98.12 and a 200 day simple moving average of $93.86. 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 Increases Dividend

The company also recently declared a — dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.01 per share. This is an increase from Southern Copper’s previous — dividend of $0.62. This represents a dividend yield of 270.0%. The ex-dividend date is Friday, August 15th. Southern Copper’s dividend payout ratio (DPR) is presently 61.27%.

Wall Street Analysts Forecast Growth

SCCO has been the subject of a number of research analyst reports. Itau BBA Securities raised shares of Southern Copper from an “underperform” rating to a “market perform” rating in a research note on Wednesday, June 11th. UBS Group lowered 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 note on Tuesday, July 1st. Wall Street Zen lowered shares of Southern Copper from a “buy” rating to a “hold” rating in a research note on Tuesday, May 20th. Morgan Stanley reissued an “underweight” rating and set a $99.00 target price (up from $86.00) on shares of Southern Copper in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. cut their target price on shares of Southern Copper from $83.50 to $79.00 and set a “neutral” rating for the company in a research note on Thursday, July 3rd. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.