Temasek Holdings Private Ltd Increases Stock Holdings in Southern Copper Corporation $SCCO

Temasek Holdings Private Ltd boosted its stake in Southern Copper Corporation (NYSE:SCCO) by 9.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 270,277 shares of the basic materials company’s stock after acquiring an additional 24,417 shares during the quarter. Temasek Holdings Private Ltd’s holdings in Southern Copper were worth $46,504,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Southern Copper during the fourth quarter worth $97,645,000. Capital Research Global Investors purchased a new stake in shares of Southern Copper during the fourth quarter worth about $81,039,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Southern Copper during the fourth quarter worth about $46,560,000. USS Investment Management Ltd increased its stake in shares of Southern Copper by 904.8% during the fourth quarter. USS Investment Management Ltd now owns 301,655 shares of the basic materials company’s stock worth $43,272,000 after purchasing an additional 271,634 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Southern Copper during the 4th quarter worth about $35,095,000. Hedge funds and other institutional investors own 7.94% of the company’s stock.

Southern Copper Stock Up 7.3%

SCCO stock opened at $187.92 on Wednesday. The company has a market cap of $155.24 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 1.50 and a beta of 1.11. The company has a current ratio of 4.38, a quick ratio of 3.89 and a debt-to-equity ratio of 0.57. Southern Copper Corporation has a 12 month low of $88.73 and a 12 month high of $223.88. The firm has a 50-day moving average of $180.76 and a two-hundred day moving average of $182.80.

Shares of Southern Copper are going to split before the market opens on Tuesday, August 11th. The 1.012-1 split was recently announced. The newly created shares will be payable to shareholders after the closing bell on Monday, August 10th.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be issued a $1.10 dividend. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, August 11th. Southern Copper’s payout ratio is 72.73%.

Analyst Upgrades and Downgrades

SCCO has been the topic of a number of research reports. Morgan Stanley raised their price target on shares of Southern Copper from $146.00 to $158.00 and gave the company an “underweight” rating in a research note on Wednesday, July 8th. Zacks Research upgraded Southern Copper from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Weiss Ratings cut Southern Copper from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, July 8th. Citigroup restated a “positive” rating on shares of Southern Copper in a research report on Wednesday, July 15th. Finally, Wall Street Zen raised Southern Copper from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $148.10.

Insider Activity at Southern Copper

In related news, Director Bonilla Luis Miguel Palomino sold 200 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $177.82, for a total value of $35,564.00. Following the completion of the sale, the director owned 1,807 shares of the company’s stock, valued at approximately $321,320.74. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 404 shares of company stock valued at $74,108 over the last ninety days. 0.07% of the stock is currently owned by company insiders.

About Southern Copper

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.