Wellington Management Group LLP Increases Stock Position in Southern Copper Corporation $SCCO

Wellington Management Group LLP raised its stake in shares of Southern Copper Corporation (NYSE:SCCO) by 267.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,807 shares of the basic materials company’s stock after acquiring an additional 15,870 shares during the period. Wellington Management Group LLP’s holdings in Southern Copper were worth $3,800,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Intech Investment Management LLC boosted its position in shares of Southern Copper by 0.8% during the 4th quarter. Intech Investment Management LLC now owns 6,030 shares of the basic materials company’s stock worth $865,000 after purchasing an additional 50 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Southern Copper by 0.8% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,072 shares of the basic materials company’s stock valued at $871,000 after purchasing an additional 51 shares during the period. Steel Grove Capital Advisors LLC raised its position in Southern Copper by 1.8% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 2,910 shares of the basic materials company’s stock valued at $417,000 after purchasing an additional 52 shares during the period. Ensign Peak Advisors Inc lifted its stake in Southern Copper by 0.8% during the fourth quarter. Ensign Peak Advisors Inc now owns 6,379 shares of the basic materials company’s stock worth $915,000 after purchasing an additional 53 shares in the last quarter. Finally, Venture Visionary Partners LLC boosted its position in shares of Southern Copper by 0.8% during the fourth quarter. Venture Visionary Partners LLC now owns 6,998 shares of the basic materials company’s stock worth $1,004,000 after buying an additional 53 shares during the period. 7.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Southern Copper

In other news, Director Luis Palomino Bonilla sold 202 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $196.79, for a total transaction of $39,751.28. Following the completion of the transaction, the director directly owned 1,723 shares of the company’s stock, valued at approximately $339,066.65. The trade was a 10.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 504 shares of company stock worth $97,077 over the last three months. Insiders own 0.07% of the company’s stock.

Southern Copper Stock Up 0.6%

Southern Copper stock opened at $209.76 on Thursday. The firm has a market capitalization of $175.01 billion, a P/E ratio of 30.67, a P/E/G ratio of 1.92 and a beta of 1.14. The company has a current ratio of 5.06, a quick ratio of 4.56 and a debt-to-equity ratio of 0.63. Southern Copper Corporation has a twelve month low of $100.43 and a twelve month high of $223.88. The stock’s fifty day simple moving average is $189.67 and its 200-day simple moving average is $184.30.

Southern Copper (NYSE:SCCO) last released its earnings results on Wednesday, July 22nd. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.06. Southern Copper had a return on equity of 49.04% and a net margin of 35.87%.The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.37 billion. Southern Copper’s revenue for the quarter was up 40.6% on a year-over-year basis. As a group, equities analysts expect that Southern Copper Corporation will post 7.59 earnings per share for the current fiscal year.

Southern Copper Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, August 11th. This is a boost from Southern Copper’s previous quarterly dividend of $1.00. Southern Copper’s dividend payout ratio (DPR) is 64.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Southern Copper from $125.49 to $129.94 and gave the company an “underweight” rating in a research note on Wednesday, June 17th. Wall Street Zen lowered Southern Copper from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Zacks Research cut Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Morgan Stanley lifted their target price on Southern Copper from $144.27 to $156.13 and gave the company an “underweight” rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings upgraded shares of Southern Copper from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have given a Sell rating to the company’s stock. According to MarketBeat, Southern Copper presently has an average rating of “Reduce” and an average target price of $146.84.

Southern Copper Profile

Southern Copper Corporation (NYSE: SCCO) is an integrated copper producer engaged in the exploration, mining, processing, smelting and refining of minerals. The company produces copper in the form of cathodes, concentrates and anodes, along with byproducts including molybdenum, zinc, silver, lead and sulfuric acid.

Southern Copper operates mining and processing facilities in Mexico and Peru. Its principal Mexican operations include the Buenavista del Cobre and La Caridad mining complexes, while its Peruvian operations include the Toquepala and Cuajone mines and the Ilo smelter and refinery.