Gotham Asset Management LLC Purchases 23,022 Shares of Southern Copper Corporation $SCCO

Gotham Asset Management LLC grew its stake in Southern Copper Corporation (NYSE:SCCO) by 5.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 445,987 shares of the basic materials company’s stock after purchasing an additional 23,022 shares during the quarter. Gotham Asset Management LLC’s holdings in Southern Copper were worth $63,986,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Lloyd Advisory Services LLC. purchased a new stake in Southern Copper in the fourth quarter valued at about $29,000. Virtus Advisers LLC purchased a new stake in Southern Copper during the 4th quarter worth approximately $29,000. Caitlin John LLC purchased a new position in shares of Southern Copper in the third quarter worth $30,000. Godfrey Financial Associates Inc. acquired a new stake in shares of Southern Copper during the fourth quarter worth $30,000. Finally, IFP Advisors Inc grew its holdings in shares of Southern Copper by 233.3% during the fourth quarter. IFP Advisors Inc now owns 230 shares of the basic materials company’s stock valued at $33,000 after buying an additional 161 shares during the last quarter. Institutional investors and hedge funds own 7.94% of the company’s stock.

Southern Copper Stock Down 1.5%

NYSE SCCO opened at $191.52 on Thursday. The company has a market cap of $156.88 billion, a P/E ratio of 31.66, a P/E/G ratio of 1.83 and a beta of 1.09. Southern Copper Corporation has a one year low of $88.73 and a one year high of $223.88. The business has a fifty day moving average price of $184.31 and a 200 day moving average price of $176.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.89 and a current ratio of 4.38.

Southern Copper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.1%. The ex-dividend date was Wednesday, May 13th. Southern Copper’s dividend payout ratio is presently 66.12%.

Insider Activity

In other Southern Copper news, Director Bonilla Luis Miguel Palomino sold 200 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $177.82, for a total value of $35,564.00. Following the transaction, the director owned 1,807 shares of the company’s stock, valued at $321,320.74. This represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders sold 404 shares of company stock worth $74,108. 0.07% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SCCO shares. Bank of America lowered Southern Copper from a “neutral” rating to an “underperform” rating and raised their target price for the stock from $162.00 to $175.00 in a research note on Thursday, February 26th. Morgan Stanley raised their price objective on Southern Copper from $155.00 to $160.00 and gave the stock an “underweight” rating in a research note on Thursday, April 9th. Wall Street Zen lowered Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. The Goldman Sachs Group raised shares of Southern Copper from a “sell” rating to a “neutral” rating and set a $178.00 price objective on the stock in a research note on Friday, April 10th. Finally, UBS Group lifted their target price on shares of Southern Copper from $140.00 to $145.00 and gave the company a “sell” rating in a report on Thursday, May 21st. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $145.94.

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.