Southern Copper Corporation $SCCO Shares Acquired by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ increased its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 29.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,748 shares of the basic materials company’s stock after purchasing an additional 7,602 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Southern Copper were worth $4,090,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Rakuten Investment Management Inc. acquired a new position in shares of Southern Copper in the 3rd quarter valued at about $2,976,000. Legal & General Group Plc raised its holdings in Southern Copper by 4.3% in the second quarter. Legal & General Group Plc now owns 941,712 shares of the basic materials company’s stock valued at $95,273,000 after buying an additional 38,856 shares during the period. Nordea Investment Management AB lifted its position in Southern Copper by 5.7% during the third quarter. Nordea Investment Management AB now owns 148,484 shares of the basic materials company’s stock valued at $17,778,000 after buying an additional 7,995 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Southern Copper by 2,631.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,441 shares of the basic materials company’s stock worth $1,631,000 after buying an additional 12,949 shares during the period. Finally, Alps Advisors Inc. increased its position in shares of Southern Copper by 54.2% in the third quarter. Alps Advisors Inc. now owns 35,647 shares of the basic materials company’s stock worth $4,326,000 after acquiring an additional 12,532 shares in the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Insiders Place Their Bets

In related news, Director Bonilla Luis Miguel Palomino sold 403 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $137.83, for a total value of $55,544.87. Following the sale, the director directly owned 1,275 shares of the company’s stock, valued at $175,731.28. This represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the 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. This trade represents a 93.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.07% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SCCO. Citigroup restated a “sell” rating on shares of Southern Copper in a report on Monday, January 12th. Zacks Research cut Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $116.51 target price (down previously from $118.49) on shares of Southern Copper in a research report on Friday, January 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Southern Copper in a report on Monday, December 29th. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $127.91 price target on shares of Southern Copper in a report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $136.49.

Southern Copper Trading Up 3.6%

NYSE:SCCO opened at $200.99 on Friday. The stock has a market cap of $163.24 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 1.60 and a beta of 1.07. Southern Copper Corporation has a one year low of $74.84 and a one year high of $218.81. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.91 and a current ratio of 4.52. The business’s 50-day simple moving average is $173.75 and its 200 day simple moving average is $137.92.

Southern Copper Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This is an increase from Southern Copper’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. Southern Copper’s dividend payout ratio is 75.19%.

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.