Southern Copper Corporation $SCCO Shares Bought by General Pension Society PZU Joint Stock Co

General Pension Society PZU Joint Stock Co increased its holdings in shares of Southern Copper Corporation (NYSE:SCCO) by 1.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 393,286 shares of the basic materials company’s stock after purchasing an additional 3,932 shares during the quarter. Southern Copper accounts for 11.5% of General Pension Society PZU Joint Stock Co’s portfolio, making the stock its 2nd biggest position. General Pension Society PZU Joint Stock Co’s holdings in Southern Copper were worth $47,729,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

SCCO has been the subject of several analyst reports. Scotiabank restated an “underperform” rating on shares of Southern Copper in a research report on Tuesday, January 27th. Morgan Stanley restated an “underweight” rating and set a $154.69 price objective on shares of Southern Copper in a report on Friday, January 30th. Wall Street Zen cut shares of Southern Copper from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $116.51 price target (down previously from $118.49) on shares of Southern Copper in a report on Friday, January 23rd. Finally, Zacks Research downgraded Southern Copper from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and seven have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $136.49.

Insider Activity

In other Southern Copper news, Director Lerdo De Tejada Leon Contreras sold 9,326 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $209.56, for a total value of $1,954,344.91. Following the sale, the director owned 605 shares in the company, valued at approximately $126,783.04. The trade was a 93.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bonilla Luis Miguel Palomino sold 403 shares of the company’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 value of $55,544.87. Following the transaction, the director directly owned 1,275 shares of the company’s stock, valued at approximately $175,731.28. This trade represents a 24.02% decrease in their position. The SEC filing for this sale provides additional information. 0.07% of the stock is owned by corporate insiders.

Southern Copper Stock Up 4.1%

Shares of SCCO stock opened at $208.32 on Tuesday. Southern Copper Corporation has a 12-month low of $74.84 and a 12-month high of $218.81. The company has a quick ratio of 3.91, a current ratio of 4.52 and a debt-to-equity ratio of 0.64. The firm has a fifty day moving average of $164.80 and a 200-day moving average of $133.10. The company has a market capitalization of $169.20 billion, a price-to-earnings ratio of 39.16, a P/E/G ratio of 1.64 and a beta of 1.06.

Southern Copper Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 10th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from Southern Copper’s previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, February 10th. Southern Copper’s dividend payout ratio is presently 67.67%.

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.