Generali Investments CEE investicni spolecnost a.s. Has $1.54 Million Stake in Southern Copper Corporation $SCCO

Generali Investments CEE investicni spolecnost a.s. boosted its stake in Southern Copper Corporation (NYSE:SCCO) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,226 shares of the basic materials company’s stock after buying an additional 149 shares during the quarter. Generali Investments CEE investicni spolecnost a.s.’s holdings in Southern Copper were worth $1,540,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cullen Frost Bankers Inc. boosted its stake in Southern Copper by 117.6% in the first quarter. Cullen Frost Bankers Inc. now owns 272 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 147 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Southern Copper in the first quarter worth $29,000. N.E.W. Advisory Services LLC acquired a new position in Southern Copper in the first quarter worth $34,000. Quarry LP acquired a new position in Southern Copper in the first quarter worth $41,000. Finally, Twin Tree Management LP boosted its stake in Southern Copper by 583.5% in the first quarter. Twin Tree Management LP now owns 622 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 531 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Up 0.2%

Shares of Southern Copper stock opened at $121.33 on Wednesday. Southern Copper Corporation has a 1 year low of $74.84 and a 1 year high of $122.65. The business has a 50-day moving average of $101.42 and a two-hundred day moving average of $96.40. The company has a market capitalization of $97.56 billion, a P/E ratio of 26.55, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99. 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 firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 15th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 3.3%. This is an increase from Southern Copper’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 15th. Southern Copper’s dividend payout ratio is currently 70.02%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SCCO shares. Itau BBA Securities raised Southern Copper from an “underperform” rating to a “market perform” rating in a research note on Wednesday, June 11th. Morgan Stanley reissued an “underweight” rating and issued a $99.00 price objective (up previously from $86.00) on shares of Southern Copper in a research note on Tuesday, July 15th. UBS Group reaffirmed a “buy” rating on shares of Southern Copper in a research note on Friday, September 19th. The Goldman Sachs Group set a $89.00 price target on Southern Copper and gave the company a “sell” rating in a research note on Wednesday, September 17th. Finally, JPMorgan Chase & Co. upped their price target on Southern Copper from $79.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Four research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $93.67.

Insider Activity

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 414 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $100.00, for a total value of $41,400.00. Following the completion of the sale, the director directly owned 2,327 shares in the company, valued at $232,700. This represents a 15.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 1,228 shares of company stock valued at $123,102 in the last ninety days. 0.07% of the stock is owned by corporate insiders.

Southern Copper Profile

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.