Gotham Asset Management LLC Buys 127,963 Shares of Southern Copper Corporation $SCCO

Gotham Asset Management LLC raised its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 43.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 422,965 shares of the basic materials company’s stock after purchasing an additional 127,963 shares during the period. Southern Copper accounts for approximately 0.2% of Gotham Asset Management LLC’s holdings, making the stock its 28th biggest position. Gotham Asset Management LLC owned 0.05% of Southern Copper worth $51,331,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hopwood Financial Services Inc. purchased a new stake in shares of Southern Copper in the third quarter worth about $25,000. MJT & Associates Financial Advisory Group Inc. grew its holdings in Southern Copper by 65.1% during the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock valued at $26,000 after buying an additional 84 shares in the last quarter. United Community Bank purchased a new position in Southern Copper during the 3rd quarter valued at approximately $30,000. Caitlin John LLC bought a new stake in Southern Copper in the 3rd quarter worth approximately $30,000. Finally, Allworth Financial LP increased its stake in Southern Copper by 65.1% in the 2nd quarter. Allworth Financial LP now owns 383 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Insider Buying and Selling

In other Southern Copper news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $209.56, for a total transaction of $1,954,344.91. Following the transaction, the director owned 605 shares in the company, valued at $126,783.04. The trade was a 93.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.07% of the stock is owned by insiders.

Southern Copper Price Performance

NYSE:SCCO opened at $171.05 on Monday. The firm has a market capitalization of $138.92 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 1.76 and a beta of 1.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.89 and a quick ratio of 3.40. The business has a 50 day simple moving average of $190.66 and a 200-day simple moving average of $149.58. Southern Copper Corporation has a 1 year low of $74.84 and a 1 year high of $223.88.

Southern Copper Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 10th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This is a positive change from Southern Copper’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.3%. Southern Copper’s payout ratio is presently 75.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SCCO shares. Wells Fargo & Company set a $190.38 target price on Southern Copper and gave the company an “equal weight” rating in a research report on Thursday, January 29th. Bank of America cut shares of Southern Copper from a “neutral” rating to an “underperform” rating and boosted their price target for the stock from $162.00 to $175.00 in a research report on Thursday, February 26th. Itau BBA Securities downgraded shares of Southern Copper from a “market perform” rating to an “underperform” rating and set a $124.94 price target on the stock. in a research note on Monday, December 22nd. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $116.51 price objective (down from $118.49) on shares of Southern Copper in a research report on Friday, January 23rd. Finally, UBS Group reissued a “sell” rating and issued a $148.74 price objective (up from $146.75) on shares of Southern Copper in a research note on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and eight have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $139.99.

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.