3,604 Shares in Southern Copper Corporation $SCCO Acquired by Fox Run Management L.L.C.

Fox Run Management L.L.C. acquired a new stake in shares of Southern Copper Corporation (NYSE:SCCO) in the third quarter, Holdings Channel reports. The fund acquired 3,604 shares of the basic materials company’s stock, valued at approximately $437,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Hopwood Financial Services Inc. bought a new stake in Southern Copper in the third quarter valued at $25,000. MJT & Associates Financial Advisory Group Inc. increased its holdings in shares of Southern Copper by 65.1% in the 3rd quarter. MJT & Associates Financial Advisory Group Inc. now owns 213 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 84 shares during the period. Tobam bought a new stake in Southern Copper in the 2nd quarter valued at about $29,000. United Community Bank acquired a new position in Southern Copper during the 3rd quarter valued at about $30,000. Finally, Westside Investment Management Inc. bought a new position in Southern Copper in the 2nd quarter worth about $32,000. 7.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SCCO shares. Zacks Research cut Southern Copper from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. UBS Group restated a “sell” rating and issued a $148.74 target price (up from $146.75) on shares of Southern Copper in a research report on Tuesday, February 3rd. Citigroup reaffirmed a “sell” rating on shares of Southern Copper in a research note on Monday, January 12th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $116.51 price target (down from $118.49) on shares of Southern Copper in a research note on Friday, January 23rd. Finally, Wall Street Zen lowered Southern Copper from a “buy” rating to a “hold” rating in a report on Sunday. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and eight have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $139.99.

Southern Copper Stock Up 1.0%

Shares of SCCO stock opened at $217.88 on Monday. Southern Copper Corporation has a 1 year low of $74.84 and a 1 year high of $223.89. 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 fifty day moving average is $180.98 and its 200-day moving average is $142.63. The stock has a market cap of $176.96 billion, a PE ratio of 40.96, a price-to-earnings-growth ratio of 2.25 and a beta of 1.03.

Southern Copper Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Tuesday, February 10th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.8%. 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. Southern Copper’s dividend payout ratio is currently 75.19%.

Insider Activity

In other news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director owned 605 shares in the company, valued at approximately $126,783.04. This trade represents a 93.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Bonilla Luis Miguel Palomino sold 403 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $137.83, for a total transaction of $55,544.87. Following the completion of the sale, the director owned 1,275 shares in the company, valued at $175,731.28. The trade was a 24.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.07% of the company’s stock.

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.